Opening Madagascar to Chinese investors

Four agreements were signed between Chinese and Malagasy companies ahead of the 9th edition of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).

The agreements include projects to develop energy resources, create a special economic zone, and collaborate on advanced agricultural technologies. The signing of these agreements was part of an economic cooperation roundtable between China and Madagascar, organized by the China-Africa Chamber of Commerce.

In his speech, Andry Rajoelina reaffirmed Madagascar’s openness to reliable Chinese investors, particularly in the fields of agriculture, industry, and tourism. He also announced the development of 12,500 hotel rooms and the expansion of 100,000 hectares of arable land through the application of modern agricultural technologies. During the summit’s opening, Chinese President Xi Jinping unveiled ten strategic partnership areas that will guide China-Africa cooperation over the next three years.

These areas include mutual learning between civilizations, commercial prosperity, industrial cooperation, connectivity, and health. To support these programs, Xi Jinping also announced an investment of 360 billion yuan or about 50 billion USD.