A national fund will be established to prioritize investments in key sectors such as agro-industry, mining processing, textiles, energy, and essential oils. During the official launch of the National Industrialization Council of Madagascar (CNIM) on November 21 in Antananarivo, Minister Andriniaina Rasoarahona explained that the fund will “channel resources toward the most strategic and promising industrial projects.” 

He emphasized that the creation of this fund continues the government’s ongoing efforts and public-private dialogue, while supporting economic recovery through solutions and strategies aimed at enhancing the competitiveness of industries – whether small, medium, or large.  Meanwhile, CNIM was established to oversee the Industrial Programming Pact of Madagascar, signed in July 2023 following extensive public-private consultations. This strategic framework sets a national trajectory toward sustainable and competitive industrialization, with the ambitious goal of increasing the secondary sector’s contribution to 30% of GDP by 2040. CNIM will also be responsible for defining and supervising the fund’s priorities to determine which projects are eligible for investment. 

The objective is to “strengthen the competitiveness of Malagasy industries while creating jobs and meeting local needs.” The minister added that “this fund is an important lever to structure industrial development and ensure the continuity of government initiatives.” With the support of the African Development Bank, CNIM will be able to “oversee the implementation of the Pact and adjust investments according to national priorities.” 

According to Minister Rasoarahona, the national fund will “encourage and guide investments, support the growth of local businesses, and sustainably strengthen Madagascar’s industrial sector.” 

Irina Tsimijaly 

Source : L'Express de Madagascar