AD Ports Group and Economic Development Board of Madagascar Sign MoU to Explore Development of Ports, Maritime and Logistics

Abu Dhabi, UAE – 30 May 2024:AD Ports Group (ADX: ADPORTS), one of the world’s main facilitators of world commerce, logistics, and business, and the Economic Development Board of Madagascar have at this time signed of a Memorandum of Understanding (MoU), to discover a dynamic partnership centered on bolstering business alternatives throughout maritime, business and logistics sectors in Madagascar.

The MoU was signed by Mohamed Eidha Al Menhali, Regional CEO – AD Ports Group, and Josielle Rafidy, General Manager – Economic Development Board of Madagascar.

Under the phrases of the Memorandum, each entities would give attention to key areas of cooperation and mutual curiosity, together with however not restricted to the event of financial cities & free zones, ports, marina and cruise port services, digitalisation of logistics and maritime associated companies, as well as to the event of a maritime academy. Furthermore, the memorandum goals to discover the event of the fisheries sector in Madagascar, together with monitoring and enforcement of sustainable fisheries guidelines and rules, infrastructure growth of built-in fisheries, harbours and marinas, in addition to fostering innovation and know-how adoption throughout the fisheries sector in Madagascar.

Mohamed Eidha Al Menhali, Regional CEO – AD Ports Group,mentioned: “Our MoU with the Economic Development Board of Madagascar underscores our dedication in the direction of worldwide collaboration and aligns with our management’s instructions, as we increase our community of commerce companions and forge new partnerships globally. We look ahead to sharing our experience and leveraging our sources to unlock new alternatives and foster mutual prosperity.”

Josielle Rafidy, General Manager – Economic Development Board of Madagascar,mentioned: “As half of its mission to promote and facilitate funding, EDBM is delighted to have signed this memorandum of understanding with AD Ports Group, the world’s main facilitator of commerce, logistics, and business companies, because it continues to implement its large-scale funding plan in Africa. This step confirms that Madagascar stays a vacation spot for Foreign Direct Investment in Africa and the Indian Ocean. We are prepared to present the help and assist wanted to convey these joint initiatives to fruition, alongside Malagasy stakeholders, for mutually helpful co-development of each economies.”

A joint working group can be established by each events to oversee the implementation of the initiatives, specializing in the event of initiatives, investments, and alternatives within the agreed areas of cooperation.