Egypt and Madagascar open a new chapter in economic partnership
$123 million in trade and a plan to expand joint investments
Written by Ziad Abdel Fattah:
Dr. Mohamed Farid Saleh, Minister of Investment Foreign Trade, with the President of the Republic of Madagascar, Michael Randrianireina, discussed ways to enhance economic and investment cooperation between the two countries, during a high-level roundtable held at the Ministry headquarters, with the participation of a number of ministers, officials and representatives of the Egyptian and Malagasy business community, within the framework of the official visit of the Malagasy President to Cairo.
The Minister of Investment stressed that the visit of the President of Madagascar represents an important opportunity to elevate economic relations to a new stage based on transforming political understandings into joint projects and investments on the ground, which will enhance sustainable development and serve the interests of both countries.
$123 million in trade exchange during 2025
He pointed out that the volume of trade exchange between Egypt and Madagascar amounted to about $123 million during 2025, explaining that this figure does not reflect the great economic potential that the two countries possess, especially in light of the opportunities available in the infrastructure, energy, agriculture, food industries, logistics and mining sectors.
The minister explained that Egypt and Madagascar’s membership in COMESA provides ample opportunities to build integrated regional value chains and enhance intra-regional trade, stressing that Egyptian companies possess extensive experience that qualifies them to contribute to the implementation of major development projects within Madagascar.
Projects implemented by Egyptian companies in Madagascar
Farid reviewed the most prominent projects implemented by Egyptian companies in Madagascar, most notably the highway project linking the capital Antananarivo and the port of Toamasina, with a length of 250 kilometers and investments amounting to about $923 million, in addition to cooperation in developing the new administrative capital of Madagascar, through providing advisory support and technical expertise.
The minister also announced that Egypt is working on launching an investment fund in Africa in partnership between the Egyptian sovereign wealth fund and the private sector, with the aim of supporting joint investments in priority sectors, stressing that Madagascar is one of the promising markets to benefit from this initiative.
He pointed out that the economic reform program implemented by the state has contributed to enhancing the competitiveness of the Egyptian economy and improving the investment environment, through simplifying procedures, accelerating the issuance of licenses, automating services, and strengthening the role of the private sector in economic activity.
He stressed that financial technology, payment systems, and logistics, along with the energy, water, agriculture, and food security sectors, represent promising areas for cooperation between the two countries, calling for increased trade missions and direct meetings between companies to transform investment opportunities into actual projects.
For his part, President Michael Randriani expressed his appreciation to President Abdel Fattah al-Sisi for the warm welcome, stressing his country’s desire to expand the economic partnership with Egypt and benefit from Egyptian expertise in infrastructure, urban development and energy projects.
The Malagasy president explained that his country is not only looking for funding, but also aims to build sustainable development partnerships that achieve mutual benefit, praising the Egyptian development experience and describing it as an inspiring model for African countries.
In the same context, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones, affirmed that the Authority is working to create a more attractive investment environment by simplifying procedures and developing services provided to investors, in addition to supporting the expansion of Egyptian companies in African markets, which contributes to enhancing economic integration, transferring expertise, and building value chains within the continent.
