Antananarivo, May 9, 1:50 p.m. – Andry Rajoelina praises Madagascar as an investment destination. In front of thousands of investors who came to attend the annual Investment Congress in Abu Dhabi in the United Arab Emirates, the President of the Republic is showing off what Madagascar can offer them to encourage them to come and invest on the Big Island.
The Head of State highlights, in particular, the natural reserves which the Big Island abounds to “welcome luxury eco-lodges, eco-resorts and high-end club hotels”. All that remains for investors is to come and build “11,500 additional rooms, a priority for Madagascar, in order to satisfy growing demand”. He also mentions the numerous “sites [qui] are suitable for the installation of marinas”.
Andry Rajoelina also highlights the availability of “more than 36 million hectares of arable land” on the Big Island while the world would need “more than 800 million hectares of agricultural land to feed the world population”. He then insists that Madagascar can offer “enormous potential to close the global food gap”. “We have the natural resources, fertile soils and favorable climate to be a major agricultural breadbasket,” he says.
In the fishing sector, the President of the Republic mentions a potential shrimp production of up to 300,000 tonnes while for the moment, Madagascar only produces 30,000 tonnes. “Our waters are rich in quality fish products, particularly shrimp which benefit from the prestigious Red Label,” he says.
In the mining sector, finally, the Head of State highlights “the considerable reserves of cobalt, vanadium, iron, gold, graphite and precious stones”. According to him, these reserves are “estimated at 300 million tonnes”. He also recalls the adoption of a new mining code with incentive measures “in order to strengthen Madagascar’s commitment to a solid regulatory framework that encourages responsible investments”.
In his speech, Andry Rajoelina recognizes that Madagascar still faces many challenges. “To fully exploit this potential, we must modernize our
agricultural techniques, invest in research and development,” he concedes. And “our dependence on thermal energy represents a major challenge, with 90% of our production relying essentially on this expensive source,” he adds.
To reassure his interlocutors, the President of the Republic highlights ongoing energy projects, such as the installation of solar parks in 47 of the country’s 120 districts, or Madagascar’s determination to exploit its hydroelectric potential estimated at more than 7,800 MW. Among the projects currently underway are the Sahofika and Volobe power plants whose construction is announced for this year.
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