Morocco tops Maghreb countries in attracting foreign investment

Morocco has topped Maghreb countries in terms of attracting foreign direct investment (FDI), local media reported on Sunday.

Citing a report by the Arab Investment and Export Credit Guarantee Corporation, the Moroccan financial daily L’Economiste said the North African kingdom attracted 2.3 billion U.S. dollars worth of FDI in 2016.

According to the report, Morocco overtook its neighboring Maghreb nations such as Algeria with 1.5 billion U.S. dollars, Tunisia with 958 million U.S. dollars and Libya with 493 million U.S. dollars worth of FDI in 2016.

Among Arab countries, Morocco came at fifth after the Unite Arab Emirates (UAE), Egypt, Saudi Arabia and Lebanon.

It noted that Arab countries drained some 30.8 billion U.S. dollars worth of FDI in 2016, a 25 percent increase compared to a year earlier.

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