Mauritius-Madagascar: Transcending to a New Era of Economic Collaboration
The newly elected President of the Republic of Madagascar, His Excellency, Mr. Andry Nirina Rajoelina graced the National Day Celebrations of Mauritius on the 12th March 2019 as the Chief Guest.
In this context, the Economic Development Board hosted a Business Forum and Networking Event on Wednesday 13th March 2019 at the Westin Turtle Bay Resort and Spa, in Balaclava. The event themed “Mauritius-Madagascar: Transcending to a New Era of Economic Collaboration’’ saw the participation of over 400 guests including businessmen from both countries. The event served as a platform to foster greater interactions between the high-level delegation led by the President and the Mauritian business community.
In his keynote address, His. Excellency, Mr. Andry Nirina Rajoelina, President of the Republic Madagascar has reiterated his commitment to pursue the economic transformation of Madagascar and put the country on the path of socio-economic development. As such, Foreign Direct Investment is a sine qua non to fuel even further this renewed dynamism.
In this regard, the President expressed his determination to improve the investment climate by ensuring the security of the Malagasy population as well as of the investors’ community. To provide further impetus to the existing excellent bilateral ties between Madagascar and Mauritius, he has invited the Mauritian business community and entrepreneurs to explore investment opportunities in Madagascar. He further elaborated that investments in key sectors high on the agenda of his government namely, rice cultivation, extraction of precious metals, construction, real estate, tourism and green energy will provide a new dynamism to the Malagasy economy whilst at the same time boosting the entrepreneurial fabric of Mauritius.
The President has highlighted that the business forum serves as an excellent platform to bring together all stakeholders with a view to reinforce the confidence and determination towards sustained prosperity of our two countries, through the creation of a shared foundation for productivity.
In his welcome speech, Honourable Seetanah Lutchmeenaraidoo, GCSK, Minister of Foreign Affairs, Regional Integration & International Trade emphasized on the immense potential of ocean economy with an Exclusive Economic Zone of 2.3 million km². He also underscored that both Madagascar and Mauritius are blessed with a vast maritime zone which could be harnessed and explored.
The CEO of the Economic Development Board Mauritius, Mr. François Guibert emphasized that Mauritius and Madagascar should leverage on the similarities shared by both countries and work towards the establishment of a convergent vision to achieve a new era of economic partnership. Mr. Guibert reiterated his commitment to work closely with the EDBM and authorities of both countries for the implementation of the legal, institutional, strategic and operational frameworks to encourage movement of people, capital and goods.
Mr. Andry Ravalomanda, General Director of the Economic Development Board of Madagascar underlined that this forum represents an opportunity to strengthen the partnership between our two countries. He invited potential investors to consider the emerging opportunities in several sectors of the economy.
With a view to consolidating fruitful collaboration between the Madagascar and Mauritius, the following agreements were signed:
-MoU between the Economic Development Board Mauritius (EDB) and the Economic Development Board Madagascar (EDBM)
- MoU between the Mauritius Africa Fund (MAF) & the Economic Development Board Madagascar (EDBM)
The signing ceremony of two the MoUs preceded a thematic session which was moderated by Mr. Yash Manick, CEO of the Mauritius Africa Fund. Drawing on their vast knowledge, the panellists deliberated on the following themes:
- New leadership and emergence of Madagascar
- Drivers of the growth of the Malagasy economy
- Connectivity, logistics and business gateway
- Opportunities and Challenges in the Tourism Sector of Madagascar
- Mauritius as a platform for cross-border investments
The Business Forum concluded with B-to-B networking sessions.