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Today, We are counting on productive investment as a lever for boosting our economy and making sure our country engages in the promising sectors. We expect the new Investment Charter to significantly enhance Morocco's attractiveness as far as both domestic and foreign investment is concerned

Excerpt from the Speech of His Majesty the King, may God Assist Him, at the Parliament on the occasion of the opening of the 1st session of the 2nd legislative year of the 11th legislature, on October 14, 2022.

National Investment Strategy

For over a decade, investment in Morocco has been steadily growing. However, this investment is predominantly driven by the public sector, representing two-thirds of the total investment. The state's goal is to achieve a 65% share of private investment by 2035, in accordance with the recommendations of the New Development Model.

Private investment, averaging 90 billion Dirhams per year (one-third of total investment), is currently supported by approximately 40% from Foreign Direct Investment (FDI), concentrated notably in the manufacturing sector, and about 60% by Moroccan investment, mainly in Real Estate, Commerce, Extractive Industries, and Construction.

Thus, in accordance with the Royal High Directives, the Ministry of Investment, Convergence, and Evaluation of Public Policies has set as its primary objectives to generate 550 billion dirhams of private investment and create 500,000 jobs between 2022 and 2026.

To achieve these goals, strategic pillars have been identified by 2026, namely:

  • To increase private investment in productive sectors (manufacturing industries, renewable energy, extractive industries, agriculture, fishing & aquaculture, tourism, outsourcing, digital, transport & logistics, waste management, etc.).
  • To channel some public investment into private investment through the promotion of public-private partnerships (PPPs).
  • Supporting the upgrading of private companies’ growth in private investments correlated with GDP growth in sectors such as real estate, commerce, financial services, and social services.

In terms of regional distribution of private investment, the ambition is to minimize territorial disparities. This effort will allow all the regions of the Kingdom to capture a more significant share of private investment during the period 2022-2026.

As part of defining the sectoral and regional targets of the national investment strategy, a convergent approach is being finalized, incorporating all public and private stakeholders, both at the sectoral and territorial levels.

Investment Objectives in numbers



Achieve 550 Billion Dirhams of private investments by 2026


Create 500,000 jobs between 2022-2026

The Investment Charter

"The adoption of the new framework law 03-22 forming the Investment Charter is part of the implementation of the High Directions of His Majesty King Mohammed VI, may God assist Him, as pronounced on the occasion of the Opening of the 1st session of the 2nd legislative year of the 11th legislature on October 14, 2022: Our wish is that the new National Investment Charter gives a tangible boost to Morocco's attractiveness for private investments, both domestic and foreign.'

This new Charter also endorses the recommendations of the New Development Model and the Government Program, which make investment the engine of the Kingdom's economic recovery."

The pillars of the Investment Charter

The Investment Charter provides the investor with a transparent, readable, and structured environment around three pillars, namely :


The creation of mechanisms and support systems for investment


Unified and territorialized governance of investment

The Objectives of the Investment Charter

The 9 fundamental objectives of the state's action in the development and promotion of investment are as follows:

Creation of stable jobs

Reduction of territorial disparities

Orientation of Investment towards priority sectors

Strengthening the Kingdom’s attractiveness to establish it as a continental and international hub for FDI

Promoting exports growth and developing the expansion of Moroccan companies abroad

Encouraging the substitution of imports with local production

Achieving sustainable development

Improving the business climate and facilitating the investment processes

Increasing the share of private investment in the total investment

Focus on Priority Sectors

The sectors deemed priorities by the New Investment Charter to attract investments.

The 4 Investment Support Mechanisms

The new Investment Charter establishes a comprehensive support system consisting of unprecedented support provisions, covering all categories of projects and stakeholders, through:

  • One main support mechanism: The main support mechanism aims to support investment projects that meet defined criteria, reduce disparities between the provinces in terms of attracting investments, and promote investment in priority or promising sectors.
  • Three Specific support mechanisms: The first one is dedicated to strategic investment projects, the second is for the development of Moroccan businesses abroad, and the third is specifically for very small, small, and medium-sized enterprises.
The 4 Investment Support Mechanisms

National Investment Commission (CNI)

In order to support the implementation of the new Investment Charter, a new National Investment Commission has been established by Framework Law No. 03.22 forming the Investment Charter. Chaired by the Head of Government, its powers have been strengthened. It approves investment agreements between the State and investors and designates strategic status to investment projects. Concurrently, the new investment charter formalizes the decentralization of the development and approval of investment agreements at the territorial level for projects with investment amounts below 250 million dirhams.

  • Number of investment agreements and amendments approved in the NIC: 110
  • Investment amount: 130 Billion dirhams
  • Direct and indirect jobs to be created: 68,300
  • Number of projects approved in the NIC: 5
  • Investment amount: 43 billion dirhams
  • Direct and indirect jobs to be created: 27,700
  • Number of additional projects granted strategic status in the NIC: 11
  • Investment amount: 248 billion dirhams
  • Direct and indirect jobs to be created: 200,000

The Investment Observatory


In light of the ambitions set by the New Development Model, Morocco needs to enhance data flows to monitor the National Investment Strategy.

The Investment Observatory will produce reliable, comprehensive and actionable data to evaluate the implementation of the National Investment Strategy. It will also have a monitoring system to:

  • Support the implementation of the investment strategy.
  • Measure the evolution of investment and its distribution.
  • Improve knowledge of the investment ecosystem.

The Investment Observatory will be responsible for producing economic intelligence. Its study is currently being finalized.


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Downloadable Documents


Framework Law No. 03.22 forming the Investment Charter


Decree No. 2-23-1 regarding the implementation of the main investment support mechanism and the specific support mechanism dedicated to strategic investment projects.


Order decree No. 3.12.23 regarding the implementation of the main investment support mechanism and the specific support mechanism applicable to strategic investment projects.


Brochure to Understand the Investment Charter ( Booklet )