Dubai–Madagascar Business Forum Highlights Investment Opportunities And Economic Cooperation

A delegation of 60 companies from Madagascar visited Dubai Chambers to explore investment opportunities and potential business partnerships. The Dubai–Madagascar Business Forum, held at the chamber's headquarters, aimed to strengthen economic ties between the two regions. The event highlighted cooperation in high-potential trade and investment sectors.

Andry Rajoelina, President of Madagascar, led a high-level delegation including ministers, senior officials, and business leaders. They were welcomed by Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. Representatives from Dubai’s private sector were also present.

In his keynote speech, President Rajoelina praised Dubai’s global economic status and expressed interest in deepening bilateral relations across several priority sectors. He emphasised the importance of collaboration for mutual growth. This sentiment was echoed by Sultan bin Saeed Al Mansoori during his welcome address.

Al Mansoori stated, "The steady growth in economic ties between Dubai and Madagascar reflects our shared commitment to strengthening bilateral partnerships and exploring new opportunities for impactful cooperation that support sustainable economic growth." He noted the launch of Emirates Airlines’ direct service to Antananarivo in September 2024 as a significant milestone.

The introduction of this direct flight is expected to boost bilateral trade, tourism, and collaboration. Al Mansoori highlighted that Dubai’s non-oil trade with Madagascar increased by 90% in 2024. It grew from AED 692 million in 2023 to AED 1.3 billion, showcasing the expanding momentum of their economic relations.

He added that they are committed to supporting relationships between business communities in both regions. This includes capitalising on promising opportunities within vital sectors of mutual interest.

Investment Opportunities Highlighted

During the forum, Mohammad Ali Rashed Lootah presented promising sectors for bilateral investment and trade collaboration. He outlined key investment opportunities available in Dubai for businesses from Madagascar across various sectors such as tourism, entertainment, logistics, real estate, information technology, and financial services.

This comprehensive presentation aimed to attract Malagasy investors by showcasing the diverse opportunities available in Dubai's thriving economy.

The forum successfully reaffirmed the importance of strengthening economic ties between Dubai and Madagascar. It focused on advancing cooperation across high-potential trade and investment sectors while highlighting new avenues for collaboration.

With inputs from WAM