Foreign direct investment (FDI) in Morocco reached a record 16.1 billion dirhams (MAD) by the end of May, showing a nearly 20% increase from the previous year, according to Government Spokesperson, Mustapha Baitas.

Baitas attributed this significant growth to government reforms, particularly the investment charter and improvements in the business climate. The implementation of the New Investment Charter in March 2023 led to the approval of 115 projects worth 173 billion dirhams, creating 96,000 new jobs.

He highlighted that 82% of these projects are already underway and will have a substantial impact on both FDI and national private investment.