Morocco has soared into the top 40 of the world’s most desired destinations for Chinese investors, climbing up from 60th position to 33rd, according to The Economist Intelligence Unit (EIU) in its latest report entitled “China Going Global Investment 2023” index.
Gaining 27 positions in 10 years, Morocco is now ranked fifth in the Arab world, behind the UAE, Saudi Arabia, Qatar, and Egypt, and third in Africa, after South Africa and Egypt.
Morocco’s significant advancement occurs against the backdrop of Chinese corporations’ emergence as worldwide investors over the last decade under China’s Belt and Road strategy.
The EIU analyzes the most appealing investment locations for Chinese investors, taking into account economies with high operational and financial risks, as well as that status of their bilateral relations with China.
According to EIU projections, by 2024, China is anticipated to reclaim its position worldwide as the second largest source of foreign direct investment (FDI).
Singapore is ranked top as the most appealing site for Chinese investors in 2023. This attractiveness stems from Singapore’s reputation as a well-established global commercial center, its cultural links with China, and its neutrality in Sino-Western disputes.
Indonesia ranks second because of its nickel deposits, abundant and economical labor, and enormous market size.
Malaysia is ranked third, followed by Hong Kong in fourth, Thailand in fifth, Vietnam in sixth, Switzerland in seventh, the United Arab Emirates (the first Arab country) in eighth, Saudi Arabia in ninth, and Chile in tenth place.
Morocco and China recently celebrated 65 years of diplomatic relations. Morocco was the first African country to join China’s Belt and Road initiative in 2013. Last year, the signing of the Belt and Road Joint Implementation Plan Agreement on January 5, 2022, marked the beginning of a new era of collaboration between Morocco and the People’s Republic of China.