FDI in Morocco up 36 percent in 2018: ministry

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RABAT, Oct. 22 (Xinhua) -- The foreign direct investment (FDI) in Morocco hiked by 36 percent in 2018, the Moroccan Ministry of Finance said on Tuesday.

Morocco attracted FDI worth 3.6 billion U.S. dollars last year, the ministry said in a press briefing, citing a report that was addressed to the parliament with the Appropriation Bill 2020.

Morocco has improved its regional positioning by ranking fourth in Africa in terms of attracting FDI, behind Egypt (6.8 billion dollars), South Africa (5.3 billion dollars) and Congo (4.3 billion dollars), the ministry said.

Insurance and industry accounted for 21 percent and 18.2 percent respectively of the total FDI received by Morocco, followed by real estate, 16 percent, trade, 10 percent, energy and mining, 9 percent, transport, 8 percent, and tourism, 5 percent, it said.

Morocco's Minister of Finance Mohamed Benchaaboun, presented on Monday the Appropriation Bill 2020 during a plenary session of the parliament.

The bill targets a growth rate of 3.7 percent of Morocco's economy in 2020. Enditem

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