One of the world’s fastest growing economies, Madagscar is an island nation lying off the south east coast of Africa. Of the 25 million people who live in Madagascar, around 1.6 million live in Antananarivo, the island’s capital.
82% of Madagascar’s workforce is employed in agriculture. Agricultural products – banana, cassava and beans – account for the bulk of Madagascar’s exports.
If one were to sum up Madagascar’s economic prospects in a single word, that word would be: ‘potential’. Madagascar is blessed with abundant natural resources, and offers investors a wealth of untapped potential, including a competitive workforce.
In recent years, Madagascar has worked hard to attract foreign investment. The country runs a number of Export Processing Zones. Most of the country’s garment exports – an important source of national income – originate here.
Following the financial crisis of 2002, the government developed a recovery plan in concert with foreign governments and investors, establishing a steering committee to oversee foreign investment. In addition, the government identified its foremost priorities as road infrastructure, land reform and the fight against corruption.
Madagascar is blessed with an extraordinarily diverse ecosystem – around 150,000 species native to the island are found nowhere else on earth. Ecotourism is a growth industry and a strong potential source of foreign income.
HLB Madagascar full range audit services to companies of all types, structures and sectors.
Latest insights, case studies and news from across the network
Industrial manufacturing for the digital age
New technologies are driving change in the industrial manufacturing sector, which is undergoing a rapid transformation.
How is the European hospitality industry combatting the impact of travel restrictions?
It is no secret that COVID-19 has had a severe impact on the EU hospitality industry. Fortunately measures are being put in place to help the sector rebuild and allow...
Why Cybersecurity should be on your Not-For-Profit's radar
As a result of the coronavirus pandemic, cybersecurity concerns of Not-For-Profit organisations have intensified as they’ve pivoted to remote work environments and taken steps to secure their networks.
Get in touch
Whatever your question our global team will point you in the right directionStart the conversation