A business climate to improve to attract investors

On February 24, 2025, the Economic Development Board of Madagascar (EDBM) unveiled its ambitions for this year, with the objective of attracting 25 new investment projects, each with an average capital of 5 million USD.

Adriannie Tahoma, Director of Investor Services, « qualified these forecasts by specifying that their achievement will depend on the economic context and the necessary adjustments after prospecting in the field ». The year 2024 was marked by encouraging results, with the creation of 1,650 new companies via a dedicated platform. As well as the processing of 1,398 employment authorization applications through the E-Work system. The EDBM aims to continue the digitalization of its services to facilitate the procedures of investors.

In terms of foreign investment, the institution has materialized 14 projects out of 98 prospecting proposals, with a conversion rate of 14.47%. Foreign direct investment (FDI) has also increased, reaching 519 million USD in 2023, compared to 469 million USD in 2022. The main investing countries are France, the United States, Mauritius, Japan and South Korea.

Tojo Ramamonjisoa, Director of Reforms and Private Development at EDBM, highlights that access to energy, transport infrastructure, security and updating of professional information represent major challenges. EDBM must intensify its efforts to improve the business climate and attract more investments in 2025.