Madagascar seeks Saudi partnership, says president in Asharq Al-Awsat interview

President Michael Randrianirina told Asharq Al-Awsat that Madagascar views Saudi Arabia as its main partner and outlined a three-pillar plan to restore stability, invest in key sectors, and improve the business environment to attract investment.

President Michael Randrianirina spoke to Asharq Al-Awsat by Zoom in his first interview with an Arab newspaper since taking office in October. He described Saudi Arabia as a primary partner for Madagascar’s refoundation and said the country has potential in energy, agriculture, mining, tourism and human capital. The president outlined a three-pillar economic plan focused on restoring political and institutional stability, investing in structural sectors, and improving the business climate to attract investment. He said Madagascar is preparing investment-ready projects and is coordinating an official visit to Saudi Arabia. Key points: - The three-pillar plan centers on (1) restoring political and institutional stability through a transitional roadmap and executive bodies, (2) investing in structural sectors such as energy, ports, digital transformation, health and mining, and (3) improving the business environment, public-private partnerships and special economic zones. - Randrianirina proposed a joint Madagascar–Saudi investment body called "OIMS" to coordinate and finance projects in energy, ports, health, digital governance, mining, agriculture and tourism. - Priority projects mentioned include a national oil refinery, joint development of heavy oil in western Madagascar, and modernization/expansion of the ports of Toliara and Mahajanga. - The president highlighted mining and rare minerals as a key area for cooperation, with aims of better valuation and traceability of Malagasy resources. - He described anti-corruption measures based on an executive body, independent audits, digital traceability and support for judicial independence, and noted poverty, food insecurity, weak infrastructure and institutions as major challenges. - Madagascar is preparing a package of projects aligned with Saudi Vision 2030 and regional frameworks such as AfCFTA and SADC, and is working with Saudi authorities to arrange an official visit; dates are to be determined. Summary: The announcement frames Madagascar’s immediate economic agenda around partnership with Saudi Arabia and targeted investment in energy, ports, digital systems, health and mining. Madagascar is preparing an organized set of investment-ready projects and coordinating an official visit to the Kingdom as the next step; timing and specific agreements remain to be determined.