Targeting foreign and domestic investors who are considering investing in the country, the platform provides clear, reliable and current information on the relevant laws, regulations, costs and opportunities.
The guide was created jointly by the Economic Development Board of Madagascar (EDBM), the United Nations Economic Commission for Africa (ECA) and the United Nations Conference on Trade and Development (UNCTAD). EDBM, which requested the guide, will also ensure it is kept up to date.
Speaking to an audience of government officials, private sector representatives, journalists and diplomatic corps, Ms Tantely Rahoeliarivahy Rajobson, Economic Adviser to the President of Madagascar and Chair of EDBM Board noted that, “foreign investors are often held back from committing to African economies, including Madagascar, by a lack of relevant and updated information and the iGuide is meant to help address this issue.”
Mr Joseph Baricako, Economic Affairs Officer at the ECA, explained that foreign direct investment is an important source of development finance and drives economic growth, diversification and structural transformation. “The web-based tool will certainly attract more investment in Madagascar and assist in building the capacity of local institutions, such as EDBM,” he added.
Mr Ian Richards from UNCTAD, presented the guide and its contents. He demonstrated how users can find information on how to register a company, acquire land, benefit from fiscal incentives, hire employees, obtain work permits, priority sectors such as tourism and apparel, and find out which markets they could access duty-free. He also showed how feedback from existing investors in Madagascar had been integrated into the guide for more credibility.
Madagascar is the fifth country to launch the investment guide since the start of 2018, following the Republic of the Congo, Malawi, Zambia and Nigeria.
Two more official launches of the iGuide will shortly take place in Ethiopia and Mauritania. To date, twelve countries in Africa, Asia and the Caribbean have an online investment guide at their disposal.