Rédaction Africa Links 24 with lexpress
Published on 2024-03-21 02:45:00
During her official visit, Park Ji-Hyun, the ambassador of South Korea, met with Edgard Razafindravahy, the Minister of Industrialization and Commerce.
Malagasy business operators are invited to the South Korea-Africa Summit taking place on June 4 and 5 in Seoul. This is an opportunity to attract Korean investors and develop sustainable projects together.
During a courtesy visit on Tuesday, South Korean Ambassador Park Ji-Hyun met with Edgard Razafindravahy, Minister of Industrialization and Commerce.
The meeting highlighted several bilateral initiatives, with a focus on the upcoming South Korea-Africa Summit scheduled for June 4 and 5 in Seoul. The ambassador emphasized the importance of Malagasy private sector participation in this event. She described the summit as a valuable opportunity for Malagasy companies to establish and strengthen partnerships and collaborations with Korea.
The discussion also touched on Madagascar’s significant efforts to improve its business climate, including the recent adoption of crucial legislation such as the Investment Law and the Cooperative Societies Law, which are awaiting their implementing decrees. These legislative measures, along with the industrial programming agreement established with the private sector, aim to stimulate investments and boost the national economy.
Ambassador Park was briefed on the “One District, One Factory” (ODOF) initiative promoted by the Ministry. This program aims to encourage local industrial development and job creation across the country, aligning with Madagascar’s efforts to revitalize its economy through strengthening local capacities. The ambassador praised this project as a positive step towards Madagascar’s sustainable development.
Finally, the meeting discussed Madagascar’s intention to attract South Korean developers to participate in the development of four economic zones on the island. Leveraging South Korea’s recognized expertise in successful economic zone development, Madagascar aims to replicate a similar success, thereby fostering economic growth and employment. Ambassador Park reaffirmed South Korea’s commitment to supporting Madagascar in this endeavor, highlighting Korea’s interest and support for Madagascar’s industrial and economic development. This visit marked an important step in strengthening bilateral relations, demonstrating a shared commitment to promoting economic progress and sustainable development.
Itamara Randriamamonjy
Read the original article(French) on lexpress.mg
