About CountryLocated in the Indian Ocean off the south-east coast of Africa, Madagascar is one of the largest islands in the world, covering 587 thousand km² with 22.4 million inhabitants.
Since its establishment in early 2014, Malagasy new Government has embarked on economic recovery after a long socio-political crisis that lasted almost one presidential term. In view of presidential vision to making Madagascar a modern and prosperous nation, new strategic orientations are consistent with inclusive and sustainable development and aligned with Sustainable Development Goals.
The State’s General Policy, the National Development Plan and the Presidential Contingency Programme are the reference documents for achieving the desired objectives, inter alia a 2-digit growth rate from 2018.
Madagascar’s sources of growth come from (i) agriculture as local output is generally competitive; (ii) tourism as the country’s rich natural environment makes it an attractive destination for tourists; (iii) competitive wage, high skill and labor-intensive goods such as handicrafts, textiles, and clothing; and (iv) mining which is currently benefiting from huge increases in foreign investment.
Source: Economic Development Board of Madagascar (EDBM)