Morocco attracted much more foreign investment in 2025, almost doubling the amount it received a year earlier, according to a new United Nations report. The UN Trade and Development (UNCTAD) World Investment Report 2026 says foreign direct investment (FDI) into Morocco reached $3.3bn in 2025, up from $1.7bn in 2024.
The increase puts Morocco among Africa’s top ten destinations for foreign investment. It also makes the country the second biggest recipient in North Africa after Egypt.
The report shows Morocco’s FDI has changed from year to year. It received $1.4bn in 2020, $2.3bn in both 2021 and 2022, before falling to $1.1bn in 2023. Investment recovered to $1.7bn in 2024 before rising sharply in 2025.
Moroccan investment abroad also increased, reaching $813m in 2025, compared with $681m a year earlier.
The total value of foreign investment held in Morocco rose to $80.8bn, up from $64.5bn in 2024. Moroccan investments overseas also grew from $10.8bn to $12.7bn.
Morocco received nearly 15% of all foreign investment flowing into North Africa and about 4.8% of Africa’s total.
Egypt remained the region’s biggest destination with $15.5bn, while Morocco attracted more investment than Algeria ($1.5bn), Tunisia ($1.2bn) and Libya ($828m).
Across Africa, Egypt ranked first, followed by Guinea ($7.8bn), Mozambique ($5.7bn), Nigeria ($4bn), Ethiopia ($3.8bn), Uganda ($3.4bn) and Morocco ($3.3bn). Kenya, Côte d’Ivoire and Ghana completed the top ten.
UNCTAD said Morocco’s strong performance was helped by investment in manufacturing and the car industry, including a $1.5bn Stellantis project.
The report comes as foreign investment into Africa fell by 26%, from $94.3bn in 2024 to $69.5bn in 2025.
North Africa recorded the biggest drop, with investment falling 56% after an exceptionally strong 2024 driven by Egypt’s Ras El Hekma project.
West Africa was the only region to record strong growth, with investment rising 44% to $19.6bn. East Africa also grew, while Southern and Central Africa both saw declines.
Globally, foreign direct investment rose 6% to $1.624tn in 2025.
UNCTAD said the recovery was “fragile and uneven.” It added that investment is increasingly following “strategic calculation and industrial policy.”
The report highlighted electric vehicles as one of the fastest-growing industries for new investment. It named Morocco as one of the world’s emerging EV production hubs, alongside countries including Brazil, Canada, India, Indonesia, Mexico, Saudi Arabia, Spain, the United Arab Emirates and the UK.
UNCTAD said Morocco’s progress has been supported by years of industrial policy, the 2022 Investment Charter and major battery projects.
These include a battery factory in the Rabat Salé Kénitra region, which started with a $1.3bn investment and could eventually reach $6.5bn.
The report also highlighted Morocco’s growing use of renewable energy for industry. It pointed to the COBCO battery materials project in Jorf Lasfar, which plans to run entirely on renewable electricity by the end of 2026, and Gotion’s battery factory in Kénitra, which will be powered by a dedicated wind farm and battery storage system.
UNCTAD also praised the role of Tanger Med port, saying its close links with industrial zones and car factories help strengthen Morocco’s manufacturing sector.
It added that the Mohammed VI Investment Fund has committed $1.9bn to support strategic projects, working with international partners including the European Investment Bank, the International Finance Corporation and the African Development Bank.
