Madagascar to open business unit in SA

Madagascar is to open a special business unit in Johannesburg in order to encourage and strengthen trade ties, it was announced on Wednesday.

Their ambassador, Dr Denis Andriamandroso told delegates at the South African Chamber of Commerce and Industry's annual convention that this strategy was intended to improve operational discussions between businesses.

The new Madagascar House in Houghton Estate would supplement existing embassy activities.

"We open soon," he said.

He noted that while around 30 countries from South Africa have a presence in Madagascar, no company as such was in the country and the intention was to improve this situation.

"Madagascar is young in business and has a lot to learn from a country like South Africa, but it also has a lot to offer," he said.

"Our economy and business are being put ahead of politics," emphasised Andriamandroso.

As part of this, he explained that the country had been divided into six economic regions, a change from what were previously administrative provinces.

"We have a conducive climate for business. It is a peaceful country," he said.

He said Madagascar's population is 18 million people, with 50% under 25 years.

He said key strategies there at the moment included doubling rice production i.e. protecting the food market, and also developing alternative power sources, like hydroelectricity and infrastructure - which still had a long way to go.

He noted that foreign ownership in their mining had increased and for this reason the country was building and extending ports and airports to aid the export of products.

Andriamandroso concluded by saying that Madagascar had created an Economic Development Board and also allowed 100% foreign ownership with full repatriation of profits, dividends and royalties.


By Evan Pickworth

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