RenCap sees Egypt, Morocco leading industrialization-based growth in MENA

RenCap sees Egypt, Morocco leading industrialization-based growth in MENA: Egypt and Morocco are seeing “promising changes” that should help improve the overall picture for MENA countries’ economic competitiveness, Renaissance Capital Chairman Christopher Charlier said at RenCap’s annual MENA Investors Conference, according to an emailed statement (pdf). Morocco is expected to see continued FDI inflows, while Egypt could be on the cusp of a manufacturing FDI boom, global chief economist Charles Robertson said. The two North African countries enjoy “proximity to the EU and wage levels … [that] are 20-50% of central European levels and 7-17% of France’s level,” which lend further support to FDI flows, Robertson said.