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MADAGASCAR: on the Road to Stability and Development

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MADAGASCAR: on the Road to Stability and Development Sponsored Report MADAGASCAR BACK TO THE INTERNATIONAL SCENE MADAGASCAR On the road to stability and development With its return to the international scene, 2016 stood out work with us.” There are already a number of US companies working as a key year for Madagascar and 2017 is forecasted to be with Malagasy partners, such as the country’s year for reconstruction Caterpillar, Ford and Symbion Pow- er, who have all chosen to do busi- There is no question that Madagas- na, stresses, “We aim to achieve a ness with local players, and Groupe car made progress in 2016, as high- growth rate in GDP of 4,5%, and Star, Coca-Cola’s oldest partner in lighted by the Malagasy President, we believe that our current policies the world dating back to the 1950s, Hery Rajaonarimampianina: “Look- will help us reach this goal in 2017. is the leading beverage manufactur- ing back at 2016, we can really talk We are trying to attract investors er and distributor in the country. Hery Rajaonarimampianina about political, social and economic by improving the business environ- Sara et Cie is a Malagasy compa- President of the Republic achievements, as demonstrated by ment. We are a country blessed with ny specialized in working with inter- of Madagascar the strengthening of our relations resources of wealth, but we cannot national donors. As a leader in con- with donors and the hosting of claim that we can achieve our goals struction, the company is a prime Cie’s Managing Director, David world-class summits which, in turn, without external aid.” The govern- example of a Malagasy business that Ranaivo, believes foreign investors helped consolidate the country’s ment will be investing the funding managed to survive the 2009-2013 would benefit from working with stability.” At the Francophonie and into specific sectors. Agriculture will crisis period, during which it lost local partners: “If foreign investors COMESA summits, the coun- be at the forefront, a sector which 80% of its turnover and was close to choose to do business in Madagas- try hosted more top international 80% of the population depends on. bankruptcy. Sara et Cie’s strategic car, they have a vested interest part- representatives than ever before. Others sectors that will play an im- turnaround was triggered by for- nering with Malagasy local compa- Furthermore, the successful ‘Do- portant role in the country’s growth eign direct investment which had a nies which, whatever the situation, nors and Investors Conference for include infrastructure, energy, live- tremendous impact on the compa- will always be present in the coun- Madagascar’ held in Paris resulted stock, fishing and tourism. ny, and has since led it to become a try. Sara et Cie has existed for more in record funds (10 billion USD) be- The Malagasy government is reference in the eyes of international than 50 years in Madagascar, and ing promised to the country. With currently implementing initiatives institutions investing in Mada- foreign companies regularly request 6.4 billion USD of the total coming to favor investment into the country gascar. The company particularly partnering with us.” He says that from international funding agencies, – it has made significant progress seeks to build partnerships with US this shift should happen as soon as it is clear that the private sector has with regards to public finances, in- counterparts, in order to buy tech- possible: “What we need is an accel- also pledged extensively to contrib- cluding the improved collection of nologies that will help Madagascar eration of the process, so that the ute to Madagascar’s development. taxes, and in modernizing a num- develop its infrastructure. Sara et donors concretize new projects with ber of the country’s public com- 2017: A year for reconstruction panies. Eric Razafimandimby, the Although Madagascar has the re- Malagasy Minister of Public Works sources necessary to become a lead- says, “2017 is a year of stimulus and ing African nation, it has lacked the continuity. At the level of the Minis- means to turn these resources into try, we will strengthen road quality a sustainable source of income and controls, increase partnerships to growth. However, the country has raise the funding required, through now been given the means to rebuild agreements between the private itself. The Malagasy Prime Minister, sector and public authorities. Our Olivier Mahafaly Solonandrasa- priority is to encourage investors to 1 MADAGASCAR BACK TO THE INTERNATIONAL SCENE Sponsored Report the Malagasy State, and that private car. The bank provides value-added has a great environmental impact. country will strengthen the contri- foreign investors return as quickly services such as mobile and online However, the mining code that we bution of the mining sector to the as possible to Madagascar.” banking, and is the first bank in are going to ratify in the near future economy, which to date amounts The Société du Port à gestion Madagascar to be ISO 9001:2015 attaches great importance to the to 2% of GDP. By 2018, the share Autonome de Toamasina (SPAT) certified on all of its banking oper- protection of environmental and of the mining sector is expected to has also made successful PPP agree- ations. BMOI’s Managing Director, social resources.” reach 12-15% of GDP.” ments with international partners. Alain Merlot, is truly optimistic BCMM has managed mining In 2017, BCMM will achieve a The government authority is re- about the country’s potential and permits, administration fees and major milestone with the opening of sponsible for three quarters of the says that the Malagasy economy is the distribution of taxes for decen- its new Mining Business Center, set maritime trade on the island and on the verge of accelerating drasti- tralized territorial authorities in up to facilitate investments, com- in charge of managing and mod- cally: “The potential of Madagascar Madagascar for 16 years. The state- munication and interaction between ernizing the Toamasina port, Mad- has existed for a long time, and ev- owned company is a central plat- mining stakeholders. All of the Mal- agascar’s most important gateway eryone is convinced: the question form for the Malagasy mining busi- agasy mining administration struc- to the Indian Ocean. The Japan that arises is not why Madagascar ness. With its overall goal to turn tures related to mining operators International Cooperation Agency has not developed, but when the Madagascar into a destination for will now be gathered on one site (JICA) has been the principal inves- country is really going to take off, mining projects and investments, and the Mining Business Center is tor in the development of this port because this is inevitable.” With the company works to improve the expected to become the gateway to and this year it will be launching a regards to the Paris Conference he synergies between public authori- mining investments in Madagascar, plan for its extension, which will says, “The promises have started to ties and mining companies across as well as a platform for trade and enable port traffic to increase five- be realized in 2017, primarily those the country, promote the interests exchange with domestic and for- fold upon completion. The port involving the budget releasing. De- of the mining sector and enhance eign companies in the sector. This has become the largest provider of spite the crisis, the Malagasy econ- mining investments. is bound to increase the potential jobs in Toamasina, Madagascar’s omy was able to resist mainly due In 2016 it issued almost 10,000 for the forging of partnerships with second largest city, accounting for to a resilient private sector. The in- licenses. BCMM’s General Manag- companies and international opera- more than a third of the total em- jection of these funds from donors er David Ratsimbazafy says, “2017 tors. Ratsimbazafy says, “Thanks to ployment. Christian Eddy Avellin, will have a very important multiplier is a pivotal year as several compa- this new business center, BCMM is Managing Director of SPAT empha- effect.” nies will move from the research able to accompany investors in all sizes, “The Indian Ocean is becom- stage to the exploration stage, par- back office procedures, throughout ing a major hub, so we need to take Developing the mining sector ticularly in the field of graphite and the whole value chain (research, advantage of this strategic opportu- With gold, nickel, cobalt, chrome, rare earths”. He adds, “We believe exploitation, exportation, etc.), and nity… It is the PPP that brought sapphires and rubies, and new proj- that in the longer term, the explo- even help them set up a company us where we are today. PPPs create ects foreseen in uranium, Madagas- ration of five major mines in the under Malagasy law.” win-win situations: the private sec- car has extensive mining potential. tor gets the required return on in- The government has made notable vestment, and at the same time the progress in enhancing the ease of infrastructure development benefits doing business in this sector and the country and the population.” according to the Malagasy Minister Other key PPPs in Madagascar of Mines and Oil, Ying Vah Zafilahy, include projects with the Swiss “We are in the process of finalizing a group SGS, which provides world new mining code and we will estab- leading inspection, verification, test- lish a mining observatory to ensure ing and certification services, and better traceability. All relevant min- with one of its subsidiaries, Gasyn- istries and governmental bodies at a et, which played an important role provincial and regional level should in the modernization and digitaliza- be involved so that we can guarantee tion of trade in the country.
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