Dynamic and completely open to the outside world, Madagascar’s major trading partners are: France, the United States, Germany, Mauritius, Japan, South Africa and China.


The main industries are :

• Agriculture (rice, vanilla, cloves, coffee and essential oils)
• Textiles
• Seafood (prawns, fish, crayfish)
• Tourism
• Mining (precious and industrial stone)

GDP per capita: 250 USD
Salaries : 40 USD per month (workers/employees)
345 USD per month (managers)
Well-developed banking system.
Indian Ocean Commission Free Trade Area (figures May 2004)

INVESTING AND SETTING UP A BUSINESS

Following recent economic reforms, Madagascar has striven to open up to the market economy, and recently introduced a One Stop Shop for foreign investors and new business creators : G.U.I.D.E.
This organisation welcomes investors, providing them with information about the economic climate in Madagascar and the formalities involved in setting up a business. It processes accreditation applications for exemption status (free trade area). The One Stop Shop also serves accreditation documents and provides support for registered companies.
G.U.I.D.E : c/o Ministry of Industrialisation, Trade and Private Sector Development :
Nouvel Immeuble FIARO, Ampefiloha, Antanarivo 101
tel. : +261 20 22 684 64 - email: guide@wanadoo.mg

Office opening hours

Administration
Morning: 8.00 am to 12.00 pm
Afternoon: 12.30 pm to 4.30 pm

Private Companies
Morning: 8.00 am to 12.00 pm
Afternoon: 2.00 pm to 6.00 pm

Useful addresses:

Poste d’Expansion Economique (PEE - Economic Development Office) at the French Embassy,
2 rue Andriatsilavo, Ambatomena - tel: +261 20 22 399 99 - www.dree.org/madagascar

CCI France-Madagascar: Immeuble Tana 2000, Ankorondrano - tel. : +261 20 22 696 49

Madagascar United States Business Concil (MUSBC) :
Lot II N19 NANISANA Antananarivo M/CAR - Tél : 22 410 40

Money :

The ariary monetary unit is gradually replacing the Malagasy franc (one ariary equals five francs). For example: 1 euro = 12,000 fmg (06/2004) = 2,400 ariary

Banks :

Banque Centrale de Madagascar, rue Revolisiona Socialista, Antaninarenina - tel. : +261 20 22 217 51

BNI-CL (a subsidiary of Crédit Lyonnais) 74 rue du 26 Juin 1960 - tel. : +261 20 22 228 00

BMOI (subsidiary of BNP-Paribas) Place de l’Indépendance - tel. : +261 20 22 346 09

BFV-SG (a subsidiary of Société Générale), 14 rue Jeneraly Rabehevitra, Antaninarenina, www.bfvsg.mg

BOA (Bank of Africa), UCB, SBM, CMB...

Bureau de Change :

SOCIMAD, branches in towns and at the airport

Money Transfer :

Western Union, available in most financial establishments

COMMUNICATIONS CONSULTANCY AGENCIES

- Factories Mc Cann-Erikson Worldwide - Centre d’Affaires Multiplex, Androhibe - tel: +261 20 22 438 58 / 22 438 73
- Tam Tam, Lot IVS II rue Zafimaharosoa, Antanimena - tél. : 22 218 70
- Circus Madagascar: Lot 126, Antanetibe, Ivato, BP 11048 tel. : +261 20 22 450 54
- Sinergy Communication: Avenue Lenine, Antimena tel. : +261 20 22 231 35 (FCB network)
- Adrenaline, Nouvel immeuble Ny Havana, Village des jeux, Ankorondrano tel. : +261 20 22 378 01

Consultants, Auditors & Accountants, Estate Agents :

- Ordre des Experts Comptables et Financiers, 10 Rue Patrice Lumumba, Tsaralalana - tel. : +261 20 22 632 22
- Cabinet Fivoarana, 13, rue Patrice Lumumba - tél. : 22 219 25
- IBSC : Investment, business creation, accounting and taxation advice Lot II, 45 Rue Pasteur Rabary, Ankadivato – tel. : +261 20 22 209 48
- Delta Audit Deloitte & Touche, 17/18 Rue Patrice Lumumba, Tsaralalana tel. : +261 20 22 653 73
- Cabinet Lamina, 143 Route Circulaire, Ankorahotra tel. : +261 20 22 672 08

Estate Agents :

-Guy Hoquet Villas et Locaux Professionnels, Centre Commercial Tana, Water Front – tel. : +261 20 22 345 89
-Austral Immobilier, 28 Rue Andrianampoinimerina tel. : +261 20 22 626 25

Business Centre :

Wanadoo Business Centre: Internet, word processing, fax, on demand copying and binding, printing, translation of documents (English and German), administrative help, meeting organisation, seminars, receptions, etc. An inviting and practical space for business people: c/o Hotel Colbert, Antaninarenina – tel. : +261 20 22 661 65

Translations :

Société de Services de Traduction et d’Interprétation, opposite
Lot VB 30 M Ambatoraka - tel. : +261 20 22 235 77