Madagascar and Turkey seek more investment
The two nations aim to boost economic ties and development projects, focusing on energy, education, and trade.
Madagascar and Turkey aim to deepen their economic partnership by attracting more investment and development projects. This goal was stated on Thursday, October 29, in Antananarivo during a reception celebrating the 103rd anniversary of the Turkish Republic. Discussions focused on opportunities within the Malagasy economy.
Minister of Public Security Erick Michel Wouli Soumah Idrissa affirmed the authorities' commitment to strengthening bilateral relations. Ambassador Halime Ebru Demircan confirmed Turkey's interest in increased collaboration in energy, education, and trade. A significant past achievement is the Ambohimanambola thermal power plant, built by Turkish group Aksa for over $80 million.
Sectors like agriculture, infrastructure, mining, tourism, health, and renewable energy are now targeted for Turkish capital. The government seeks to promote industrialization, process national products, and create jobs. Discussions are ongoing for agreements on fishing, electricity, and investment promotion. Since 1992, 181 Malagasy students have received Turkish university scholarships.
Why it mattersMadagascar's government hopes to foster industrialization, develop processing of national products, and create jobs through increased Turkish investment.