Madagascar: Turkish investors on a prospecting mission

Turkish investors are in Madagascar. This visit follows the economic roadshow led by the President of the Republic on the sidelines of the diplomatic forum in Antalya, Turkey, at the beginning of the month.

A first step. A delegation of Turkish economic operators is conducting a prospecting mission in Madagascar. This could be the precursor to a massive investment in large-scale projects, including the construction of the new city of Tanamasoandro.

An exchange and information session between the delegation of Turkish operators and some members of the government was held yesterday at the conference room of the Ministry of Foreign Affairs Anosy. “We discussed priority development sectors and projects where they can engage,” explains Rafaravavitafika Rasata, Malagasy Minister of Foreign Affairs. The establishment of Special Economic Zones (SEZs), as well as the new city project in Imerintsiatosika, were among the topics discussed.

The visit of these Turkish operators follows an invitation from Andry Rajoelina, President of the Republic, during various meetings on the sidelines of the diplomatic forum in Antalya, Turkey, at the beginning of the month. Also on the sidelines of this event, the President of Iavoloha had a bilateral meeting with his Turkish counterpart, Recep Tayyip Erdogan. An economic cooperation agreement between Madagascar and Turkey was signed on that occasion.

Experiences

In a press release reporting the Rajoelina – Erdogan meeting, the Presidency of the Republic indicates that “the Turkish government will soon send a list of Turkish operators who will be able to support Madagascar in the construction of the new city in Imerintsiatosika.” Furthermore, the cooperation agreement signed in Antalya provides for “the establishment of a joint economic committee aimed at strengthening trade exchanges between the two countries.”

Indirectly, Turkey is already a major player in the construction of infrastructure projects in the Great Island. To the tune of 90%, the country is the main supplier of construction materials to Madagascar. “According to them, they are ready to invest a lot of money. They have the advantage of working quickly and efficiently. They are also willing to contribute to attracting other foreign investors to Madagascar,” affirms Minister Rasata, who is the signatory of the Antalya agreement on the Malagasy side.

Turkish investors have experience in major infrastructure projects in Africa. For example, they participated in the construction of Diamniadio, the new Senegalese city. The Turks are also involved in various projects for large medical or sports infrastructure. Recently, they completed the construction of the new Financial Center in Kinshasa, the capital of the Democratic Republic of Congo (DRC). A complex of four towers with 21 levels, inaugurated in December 2023.

Garry Fabrice Ranaivoson