Financing

Madagascar hailed for its efforts to promote industry

Madagascar hailed for its efforts to promote industry

South Africa’s Ambassador Maud Vuyelwa Dlomo commended Madagascar’s efforts in promoting the industry. This happened during a meeting with the Minister of Industry and Private Sector Development, Chabani Nourdine.

 

A trade balance still in deficit

South African Ambassador Maud Vuyelwa Dlomo met with the Minister of Industry and Private Sector Development, Chabani Nourdine. She highlighted, among others, the hosting of the COMESA Summit, the “Origin Africa” event. However, although she welcomed the efforts of the Big Island, it seems that the trade balance between Madagascar and South Africa is still in deficit. Indeed, the amount of import from the Rainbow country was $139 million in 2015 while export was only $125 million.

 

Developing economic relations between Madagascar and South Africa

In addition, a partnership agreement should soon be signed between Midsp and South Africa. This is to further develop their economic relations. This agreement should concern the facilitation of South African investments in the Big Island. In addition, it should also strengthen Madagascar’s capacity in terms of standards and certification of its products.

 

Geographical proximity

In order to successfully establish South African industries in Madagascar, certain conditions must be met. These include the geographical proximity of a port, but also the availability of arable land. The South African Embassy and Midsp should work together to identify the region that fits these criteria. A raid is even planned for the near future.

 

Creation of local jobs

Thus, the purpose of this project is not only to strengthen cooperation between the Big Island and South Africa. It is also a question of significantly increasing the volume of Malagasy exports to the African country. This partnership should also encourage the creation of local jobs. Geographical proximity should also improve economic relations, not least in the area of tourism.

 

Madagascar receives support from South Africa

In recent years, South Africa has shown its support for Madagascar in its efforts to develop and promote its industrialization. Two years ago, the South African Ambassador, H.E. Mrs. Maude Vuyelwa Dlomo paid a courtesy call on the Minister of Industry and Private Sector Development, Chabani Nourdine. Accompanied by a delegation of South African economic operators, she had expressed their interest in investing in Madagascar.

 

For the celebration of “Mandela day”, the Ambassador of South Africa in Madagascar has requested the support of Midsp. Indeed, this edition will see the involvement of the six universities and the private sector through a volunteer project.

 

Photo credit: industry.gov.mg

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