The Economic Development Board of Madagascar (EDBM) and AD Ports Group have signed a comprehensive Memorandum of Understanding (MoU) to explore commercial opportunities across Madagascar’s maritime, industrial, and logistics sectors.
The MoU will focus on areas of mutual interest and cooperation, including the development of economic cities and free zones, ports, marina and cruise port facilities, digitalisation of logistics, maritime services, and the establishment of a maritime academy.
Additionally, the agreement aims to advance Madagascar’s fisheries sector by improving monitoring and enforcement of sustainable fisheries regulations, developing integrated fisheries infrastructure, harbors, and marinas, and fostering innovation and technology adoption.
A joint working group will be established to oversee the implementation of projects under the MoU, focusing on the development of initiatives, investments, and opportunities.
The MoU was signed by Mohamed Eidha Al Menhali, Regional CEO of AD Ports Group, and Josielle Rafidy, General Manager of the Economic Development Board of Madagascar.
Mohamed Eidha Al Menhali stated, “Our MoU with the Economic Development Board of Madagascar underscores our commitment to international collaboration and aligns with our leadership’s vision as we expand our network of trade partners and forge new global partnerships.”
Josielle Rafidy added, “As part of its mission to promote and facilitate investment, EDBM is delighted to have signed this memorandum of understanding with AD Ports Group.
This step confirms that Madagascar remains a prime destination for Foreign Direct Investment in Africa and the Indian Ocean.
We are ready to provide the necessary assistance and support to bring these joint projects to fruition, alongside Malagasy stakeholders, for the mutual benefit of both economies.”
