Bussines in Madagascar
In 2008, GDP grew 7 per cent. Demand was driven mainly by private and public investment. Private investment was led by two large
foreign-funded extractive industry projects - for nickel and cobalt in Ambatovy run by Sherritt, majority-owned by Canada's Dynatec;
and Rio Tinto's Qit Madagascar Minerals (QMM) venture for ilmenite in Fort Dauphin. Public works include the upgrade of the International
Airport of Ivato-Antananarivo (to be completed by 2011), construction of a new highway in the capital,
port construction in Ehoala (for the QMM mining project) and expansion of the port of Toamasina (to facilitate the Sherrit project).
The external sector made a negative contribution to GDP growth via a slowdown in exports and a sharp increase in imports of equipment
for the mining projects.
Exports of nickel and cobalt from Ambatovy were originally planned to start in 2010 but Sherritt recently announced a one-year delay as
the company renegotiates contracts for construction materials, freight and labour in light of the more difficult international environment.
The production of chrome in Tsaratanana is expected to rise to 190 000 tons. Uranium exploration is ongoing in Beravina.
Coal will be mined in Sakoa starting in 2010, with production put at 5 million tonnes annually for a period of 60 years. Oil exploration
is proceeding at a slow pace although the extraction of modest quantities from the Tsimiroro fields started in March 2008.
In 2008, the national authorities applied for membership in the Extractive Industry Transparency Initiative (EITI), which will help ensure
the transparent management of natural resources and accelerate reforms to reduce the cost of doing business.
Growth opportunities are expected in tourism and in telecommunications. Tourism development targets high-end, environmentally-friendly projects.
In 2008, the country decided to open selected protected areas for eco-tourism under the guidance of the Ministry of the Environment and in
collaboration with the International Finance Corporation. A new law was issued, areas were identified and the first tenders planned
for mid-2009. The programme targets wealthy tourists who spend about USD 500 (US dollars) per day, as in top South African resorts,
while protecting the environment and distributing a substantial part of the benefits to local communities. In addition, luxury hotels
are planned on the islands of Sakatia and Amporaha, scheduled to open in 2010. The development of information and communication
technologies (ICT) services is linked to the recent completion of the national backbone and to the upcoming connection with two
submarine cables networks.
How's the business in Madagascar?
Madagascar Business comments
Over here they have the same desease that all Africa have corruption and beaurocracy.I am an american doing business here Madagascar.
Jay Mule, USA
This's a great place to do business but we must do home work first. It's can make you or break.
Joly , Madagascar
So bad to do business over here, sorry that reality.
Jean , Madagascar, Paris
Haha. I woke up down today. YouÂ’ve chereed me up!
i want to live in madagascar but i do not know how to do .is it possible to give me an idea .we´re ready me and my family we are 3 persons my baby 33months and my wife 25 years of age and me .i am waiting for the answer .
Goncalves , angola/luanda
Hey Goncalves, you need to go to Madasgascar Embassy in Angola to get more information about your Visa and others things about the country.
John , Madagascar
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