In a strategic move aimed at enhancing its economic potential, Madagascar has announced plans to establish its inaugural gold refinery plant, with crucial support from the United Arab Emirates (UAE). President Andry Rajoelina shared this development during his address at the 13th edition of the AIM Congress in Abu Dhabi, emphasizing his nation’s commitment to sustainable economic growth.
Highlighting Madagascar’s strategic significance as an emerging market, President Rajoelina emphasized the country’s central role in regional trade dynamics. He underscored the importance of partnerships and investments in unlocking the nation’s rich potential across various sectors.
The announcement comes amidst the ongoing AIM Congress 2024, a platform dedicated to navigating the evolving investment landscape and fostering global economic development. With support from the UAE Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development, the event serves as a catalyst for international collaboration.
Key discussions at the congress have centered on embracing technological advancements, particularly in artificial intelligence (AI), and the pivotal role of Investment Promotion Agencies (IPAs) in driving economic growth. Moreover, industry leaders have recognized Africa’s potential as a burgeoning industrial hub, signaling opportunities for broader economic diversification.
As Madagascar prepares to embark on this transformative journey, supported by the UAE’s expertise and resources, the establishment of the gold refinery marks a significant milestone in the nation’s economic trajectory. With a focus on responsible investment and regulatory frameworks, Madagascar aims to leverage its natural resources and strategic location to attract global investments and propel sustainable development.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
8th May, 2024
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