Morocco receives $2.3 billion investment boost
Morocco has signed a series of investment deals totalling $2.3 billion (£1.2 billion) that will see the construction of a variety of new tourist facilities.
The Maghreb Arabe Press news agency reports that a 3,000-bed resort will be created in Marrakech, creating property opportunities in the area, in addition to a 585-bed complex.
Manufacturing in Morocco will also be boosted by the creation of a metal rolling plant in Mohammedia, to be established by Maghreb Steel.
The news agency states that Morocco is "Morocco is keen on developing partnership with foreign and offshoring companies" as part of its long-term inward investment strategy.
According to the United Nations Conference on Trade and Development's World Investment Report 2006, foreign direct investment (FDI) in Morocco reached nearly $3 billion in 2005 - more than double the figure observed in 2005.
The statistic for 2005 was more than the combined FDI numbers for Tunisia and Algeria.
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