Relations between Morocco and France continue to deepen more and more. The two countries have always been mutually supportive, and this is demonstrated by the projects carried out between the two, plus some economic agreements. The latest report from France's overseas promotion agency confirms that Morocco has become the leading investor in France in terms of business done in North Africa.
"Moroccan investors were behind 15 of the 37 investment projects in North Africa in 2021 (40% of the projects)," the French agency has confirmed. The published figures point out that France has become one of the Kingdom's main interests, and have described it as "attractive" when it comes to investing. In addition, jobs have also been positively affected by this interest.
"Investment projects have created half of the jobs created by North African companies in 2021, with almost 260 jobs created," adds the agency. It also highlights that since 2014, this is a booming trend. Since that year, until 2021, Moroccan investments registered in France have been brought in and have been able to create around a thousand jobs. In addition, the company clarifies that the main French regions where the Kingdom invests the most in the Ile-de-France (30% of projects), Auvergne-Rhône-Alpes (12%) and Occitania (9%).
The report provides the key to understanding why Morocco is interested in French projects. To begin with, France is a priority to start investing and this is because extending into Europe, and all the activities offered by the European market, is a key opportunity for the Moroccan market to enter other economies. It highlights that 49% of the Kingdom's investments are made up of "decision-making centres that are located for the first time on the European continent since 2014," the agency's document points out.
Business France adds an example in the text to show the clear exemplification of Moroccan investments in France. It shows the case of Lubripice, a company dedicated to the purchase of spare parts for automotive sector materials and founded by two Moroccan partners. This business exports products from France, which are distributed in Morocco, Senegal and Côte d'Ivoire, in addition to other markets in Africa, with French as a link between them.
It also highlights that, in addition to these, projects framed under the sectors of consulting and business and IT services account for more than half of the Moroccan investment projects in the French country registered since 2014.
A clear example of this case is the company Allo Garant, which is dedicated to offering rentals to foreign students who travel to France to study and is based in the city of Lyon, in the southeast of France. Initially, it was mainly dedicated to hosting young Moroccans, but over time it has expanded and now welcomes students of all nationalities.
Business France adds that last year alone, more than 1,607 foreign investment projects were carried out in France. This is also a good figure as it has increased by 32% after the fall caused by the coronavirus. 2021 means the highest level of projects carried out since 2014.
France during 2021 has become one of the favourite places for investment. The agency notes that some sixty countries have established themselves there, although it specifies that the majority come from other European countries. The main foreign investor in France is Germany, while the United States accounts for 15% of the projects and the United States creates the most jobs of all (22%).