Investment in Morocco rises 50 per cent

27 March 2008
Foreign direct investment (FDI) into Morocco increased 50 per cent in 2007, according to the government’s latest figures, while strong growth continued in the tourism sector.

FDI reached $4.5bn in 2007, up from $3bn in 2006, according to a statement made by Industry, Trade & New Technology Minister Ahmed Chami on 27 March.

The increase in inward investment was a result of the government’s efforts to promote investment through tax incentives to investors, said the minister.

The kingdom’s tourism sector generated $8bn in 2007, according to information published on the official government website, Maghreb Arabe Presse, on 26 March.

Morocco was the destination for 7.45 million tourists over the course of the year.

The government aims to attract 10 million tourists a year to the kingdom by 2010, from 2.3 million in 2004.

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