A recent report from the U.S. Department of State underscores a significant gap in Morocco's investment mechanisms, particularly concerning its lack of a robust filtering process for foreign investments across several strategic sectors. These sectors include critical minerals, rare earth elements, telecommunications, and renewable energy.

The report does not accuse Morocco of actively excluding or favoring particular investors; rather, it emphasizes that there is no documented evidence of the Moroccan government rejecting foreign investments on grounds of national security or economic policy. Instead, Morocco’s investment framework relies predominantly on sector-specific restrictions. For instance, foreign investors are limited to holding a maximum of 49% of capital in sectors such as air and maritime transport as well as in marine fishing. Furthermore, in the mining sector, the National Office of Hydrocarbons and Mines (ONHYM) is mandated to retain a minimum of 25% of exploration permits or operational licenses.

Critical Minerals as a Focus of U.S.-Moroccan Relations

The importance of critical minerals has become increasingly prominent in U.S. economic policy. As early as January 2026, the administration of former President Donald Trump initiated talks regarding the importation of processed critical minerals, aiming to lessen dependence and secure supply chains. This topic gains additional sensitivity as Washington and Rabat engage in discussions related to mining resources.

On May 5, 2026, Moroccan Energy Transition and Sustainable Development Minister Leila Benali met with U.S. Ambassador Richard Duke Buchan III in Rabat. Their discussions were centered on mining resources, natural gas, and electrical infrastructure, with the goal of advancing significant projects and enhancing Morocco's investment attractiveness. This dialogue reflects Morocco’s desire to boost its mining resource exploitation while simultaneously attracting new foreign investments, as the U.S. seeks to secure access to essential minerals for its industries.

The American report highlights that several of these strategic sectors could potentially accommodate foreign investments without any thorough preliminary examination, raising questions about the effectiveness of Morocco's current investment regulations.

As reported by lanouvelletribune.info.