Saudi Arabia trails UAE in race to invest in Morocco

Saudi Arabia is stepping up its presence in the Maghreb through a Memorandum of Understanding with Morocco, the self-proclaimed “gateway to Africa.” The agreement, signed on June 16 and reported on by L’economiste, pledged to deepen cooperation in sustainable and environmentally conscious development.

The two kingdoms agreed to focus on forest management, desertification control, and climate change adaptation. The deal also outlines provisions for technical and scientific collaboration, the development of supportive legal frameworks, improved reforestation practices, modernization of plant nurseries, adoption of innovative technologies, and the enhancement of applied research.

This comes after the UAE’s $13 billion investment in Morocco’s struggling water and energy sectors in May, which further cemented Abu Dhabi’s role as a leading regional investor, while Riyadh tries to catch up.

L’economiste