MIRI: Madagascar is inviting foreign direct investments and enhancing bilateral ties with Malaysia and other Asean countries in its drive to boost its economy and job creation in the republic.
Its Prime Minister Kolo Christopher Laurent Roger has embarked on a drive for greater foreign direct investments and jobs creation in his country – the fourth largest island in the world – since taking office in April this year.
Honorary Consul of Madagascar to Malaysia, Humprey Sii said Malaysia and other Asean countries were welcomed to invest in the country which was now also drawing attention of economic powerhouse China and South Korea among others.
“There are a lot of investment opportunities in tourism, agriculture, mining, oil and gas, transportation and other economic sectors which Malaysian business community can participate in.
“Malaysia has good governance and economic transformation in partnership with the private sector as engine of growth, and this is respected by Madagascar’s leadership,” he said.
Sii said the Madagascar Prime Minister in a meeting with the private sector, including those from Malaysia, in conjunction with the country’s Independence Day celebration recently said foreign direct investments (FDIs) were the engine of economic growth for job creation and eradication of poverty.
“The prime minister’s look east and visa-free policies are aimed at boosting trade and investment, and Malaysia should tap into this opportunity in order to help develop the country,” he said.
He thus urged the private sector in Malaysia and Brunei to explore the opportunities in this resource-rich island nation, which economic drivers were tourism, agriculture and mining but was pushing ahead in drawing foreign direct investments to expand her economy.
Earlier this year, China had indicated its interest in promoting cooperation on energy, agriculture, husbandry, fishery, human resources, anti-poverty and other areas to enhance bilateral relations to a new level.
The economic powerhouse said it backed Madagascar’s construction of special economic zones, industrial parks, and transportation and telecommunication infrastructure to help the island nation.
Madagascar is famed for exotic wildlife and also boasts nickel, cobalt, coal, iron ore and uranium deposits.
Kolo returned to Madagascar last year after spending more than 30 years running a radiology practice in Switzerland.