AD Ports Group has signed a Memorandum of Understanding (MoU) with the Economic Development Board of Madagascar to explore a dynamic partnership to enhance commercial opportunities in Madagascar's maritime, industry, and logistics sectors.
The agreement was signed by Mohamed Eidha Al Menhali, regional CEO of AD Ports Group, and Josielle Rafidy, general manager of the Economic Development Board of Madagascar.
"As part of its mission to promote and facilitate investment, EDBM is delighted to have signed this memorandum of understanding with AD Ports Group, the world's leading facilitator of trade, logistics, and industry services, as it continues to implement its large-scale investment plan in Africa. This step confirms that Madagascar remains a destination for Foreign Direct Investment in Africa and the Indian Ocean. We are ready to provide the assistance and support needed to bring these joint projects to fruition, alongside Malagasy stakeholders, for mutually beneficial co-development of both economies," stated Josielle Rafidy.
Under the terms of the MoU, the two entities will focus on key areas of cooperation and mutual interest. These include developing economic cities, free zones, ports, marina and cruise port facilities, and digitalizing logistics and maritime services.
Additionally, the deal aims to explore the development of a maritime academy. It also seeks to advance Madagascar's fisheries sector by monitoring and enforcing sustainable fisheries regulations, developing integrated fisheries infrastructure, harbours, and marinas, and promoting innovation and technology adoption within the sector.
"Our MoU with the Economic Development Board of Madagascar underscores our commitment towards international collaboration and aligns with our leadership’s directions, as we expand our network of trade partners and forge new partnerships globally. We look forward to sharing our expertise and leveraging our resources to unlock new opportunities and foster mutual prosperity," commented Mohamed Eidha Al Menhali.
