On Thursday 30 May 2024, AD Ports Group, a major global player in trade, logistics and industry, and the Economic Development Board of Madagascar (EDBM) signed a Memorandum of Understanding (MoU) to explore a dynamic partnership focused on strengthening business opportunities in the maritime, industrial and logistics sectors in Madagascar.
The MoU was signed by Mohamed Eidha Al Menhali, Regional CEO of AD Ports Group, and Josielle Rafidy, Managing Director of EDBM. Under the agreement, the two entities will focus on several key areas of cooperation and mutual interest. These include the development of economic cities and free zones, ports, yachting and cruise port facilities, as well as the digitalisation of logistics and related maritime services. The development of a maritime academy is also planned.
In addition, the agreement provides for the exploration of the development of Madagascar’s fisheries sector, including the monitoring and enforcement of sustainable fisheries rules and regulations, the development of integrated fisheries infrastructure, ports and marinas, and the promotion of innovation and the adoption of technology throughout Madagascar’s fisheries sector.
A joint working group will be set up by the two parties to oversee the implementation of the projects. This group will focus on developing initiatives, investments and opportunities in the agreed areas of cooperation.
Mohamed Eidha Al Menhali, Regional CEO – AD Ports Group, said: “Our MoU with the Economic Development Board of Madagascar underscores our commitment towards international collaboration and aligns with our leadership’s directions, as we expand our network of trade partners and forge new partnerships globally. We look forward to sharing our expertise and leveraging our resources to unlock new opportunities and foster mutual prosperity.”
Josielle Rafidy, General Manager – Economic Development Board of Madagascar, said: “As part of its mission to promote and facilitate investment, EDBM is delighted to have signed this memorandum of understanding with AD Ports Group, the world’s leading facilitator of trade, logistics, and industry services, as it continues to implement its large-scale investment plan in Africa. This step confirms that Madagascar remains a destination for Foreign Direct Investment in Africa and the Indian Ocean. We are ready to provide the assistance and support needed to bring these joint projects to fruition, alongside Malagasy stakeholders, for mutually beneficial co-development of both economies.”
