Skip to content Skip to Search
Skip navigation

Saudi-Morocco fund to drive investments – and closer ties

Cargo ships near Tangier. A agreement on shipping projects was signed at the Saudi-Moroccan Economic Forum, held in Riyadh Reuters/Youssef Boudlal
Cargo ships near Tangier. A agreement on shipping projects was signed at the Saudi-Moroccan Economic Forum, held in Riyadh
  • Agreement on shipping projects
  • Moroccan executives visit Riyadh
  • Trade trebles between countries

Saudi Arabia and Morocco are setting up a joint investment fund as part of a deal to strengthen co-operation between their private sectors.

The Saudi-Moroccan Economic Forum, held in Riyadh on Sunday, also included an agreement on direct shipping line projects.

In addition, Saudi companies will get more support in accessing North African and European markets, and Saudi Arabia will speed up the pace of participation by Moroccan companies in Vision 2030 projects.

Executives from more than 100 Moroccan companies, plus government representatives, visited Saudi Arabia to explore investment opportunities in agriculture, industry, finance, renewable energy, real estate, construction, services, healthcare and technology.

Saudi-Morocco trade more than trebled in 2022 to reach SAR16.4 billion ($4.4 billion). 

The value of Saudi exports to Morocco rose by 234 percent, while Moroccan exports increased by 153 percent, according to the state-run Saudi Press Agency.

The World Bank reports that foreign direct investment inflows to Morocco remain strong and increasingly directed towards the manufacturing sector. 

“Morocco has shown strong resilience in the face of a number of shocks, most recently the September earthquake,” said Jesko Hentschel, the World Bank’s Maghreb and Malta country director.  

The forum in Riyadh, organised by the Federation of Saudi Chambers in collaboration with the General Confederation of Moroccan Enterprises, follows the signing of a declaration that aims to boost Morocco’s trade with the UAE.

The declaration, which includes a commitment to invest in high-speed trains in Morocco, was agreed in December during King Mohammed VI’s state visit to Abu Dhabi.

Morocco’s economic growth is expected to have increased by 2.8 percent in 2023, driven by a partial recovery of agricultural output, services and net exports, the World Bank has predicted. 

This recovery is expected to continue in the medium term, with real GDP growth projected to reach 3.1 percent in 2024, 3.3 percent in 2025, and 3.5 percent in 2026. 

Latest articles

Dubai South Aldar logistics warehouse

Dubai South and Aldar to work together

The state developer Dubai South and the Abu Dhabi-listed Aldar Properties will jointly develop facilities in Dubai South’s logistics district. The new joint venture will offer build-to-lease and build-to-suit facilities. Aldar will lead the design, development and delivery of the new facilities, starting with a Grade A logistics facility with 24,000sq m of gross floor […]

WTO director general Ngozi Okonjo-Iweala said Iraq and Lebanon both want to resume talks and the organisation will 'try to go as fast as possible'

Iraq and Lebanon face long wait to join WTO

Iraq and Lebanon have indicated a desire to resume talks aimed at joining the World Trade Organization (WTO), but history suggests the two could be in for a long wait. To join the WTO, a government has to bring its economic and trade policies into line with the organisation’s rules and principles and negotiate with […]

DP World's terminal at Dakar in Senegal, one of the countries in the first phase of the decarbonisation project

DP World and Masdar link up for project to decarbonise ports

Two of the UAE’s biggest companies have formed a partnership that aims to decarbonise ports in the Middle East and Africa. Logistics group DP World has signed a three-year agreement with clean energy giant Masdar. Their initial focus will be on ports in Saudi Arabia, Senegal and Egypt. The companies will identify the best sites […]

PIF enlists global banks for second debt market issue

Saudi Arabia’s Public Investment Fund (PIF) has hired banks for its upcoming Shariah-compliant dollar bond, marking its second venture into the bond market this year. The sovereign fund, which manages over $700 billion in assets, has mandated Goldman Sachs, HSBC and Standard Chartered as joint global coordinators, Reuters reported, citing a PIF document. Investor meetings […]