The private sector and the State of Madagascar have just signed a historic pact for the industrialization of the country. After more than a year of talks, the nine largest employers’ organizations in the country have committed alongside the Ministry of Industrialization, Trade and Consumption to double the contribution of industry to Madagascar’s GDP by 2040.
This industrial programming pact aims to stimulate economic development by emphasizing the transformation of local resources and the improvement of the competitiveness of Malagasy companies. It identifies five promising sectors: agro-industry, textiles, essential oils, mining processing and energy.
This strategic partnership is a first for the country, marking a new long-term programmatic approach to the industry. To ensure effective monitoring of its implementation, a National Industrialization Council will be created, bringing together the representatives of the signatories.
The challenge of this pact goes beyond economic development. As the presidential election approaches, ensuring the continuity of the state is essential to ensure the realization of this plan, even in the event of a change of political regime. Private companies also stress the importance of the release of the decree implementing the law on industrial development and the text on the National Fund for Industrial Development, which will support the country’s major industrial projects.
This partnership between the private sector and the State marks a major turning point in the economic development of Madagascar. By focusing on industrialization, the country hopes to increase its productivity, create jobs, attract investment and contribute more to national development. This pact offers a vision of the future for the Malagasy industrial sector and opens the way to new opportunities for growth and prosperity for the country