On Thursday, Abu Dhabi Ports Group announced the signing of a memorandum of understanding with the Madagascar Economic Development Board. The aim is to build a strong partnership that will enhance trade between the two parties in various sectors.
The MoU was signed by Mohamed Aida Al Menhali, Regional CEO of Abu Dhabi Ports Group, and Joselle Rafdi, Director General of the Madagascar Economic Development Board. Under the terms of the memorandum, the focus will be on enhancing key cooperation areas of mutual interest. This includes developing economic cities and free zones, ports, cruise ship facilities, and berths, as well as digitizing relevant logistical and maritime services. Opportunities to develop Madagascar’s fisheries sector and strengthen innovation and technology sectors will also be explored.
Mohamed Aida Al Menhali expressed his group’s eagerness to expand its network of strategic partnerships and enter international markets while Joselle Ravdi highlighted that Madagascar remains an attractive destination for foreign direct investment in Africa and the Indian Ocean. She emphasized her country’s readiness to provide necessary support for joint projects and economic cooperation.
In response to this agreement, both parties have agreed to establish a joint working group to oversee project implementation. The working group will focus on developing initiatives, investments, and opportunities in agreed-upon areas of cooperation. Through this partnership, both parties aim to explore new opportunities while enhancing mutual prosperity in their respective countries.
