Miano: Kenya-Madagascar road project to boost trade and investment
Africa
By
David Njaaga
| May 11, 2024
Kenya's investment and trade sectors stand to gain significantly from a major infrastructure project in Madagascar.
The project entails constructing a 250 Km road connecting Antananarivo to Toamasina, aimed at strengthening Kenya's economic relations with Madagascar and bolstering its position within the African Continental Free Trade Area (AfCFTA).
Speaking in Nairobi on Saturday, May 11, during the launch of the Madagascar Road Construction Project, Investments, Trade and Industry Cabinet Secretary Rebecca Miano, said the project, led by Gabeire A Group (GAG), a Kenyan company, will enable the efficient movement of goods, services, and people across Africa, aligning with the infrastructural goals of the African Union.
She said the project will encourage both Domestic Direct Investments (DDIs) and Foreign Direct Investments (FDIs), while also expanding domestic and international market access.
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GAG's involvement spans various modes of Services Trade, including cross-border trade, commercial presence, and the presence of natural persons, which is expected to stimulate Kenya's export trade sector.
At the same time, the project will involve a team of skilled Kenyan engineers and technicians exporting their expertise and technology to Madagascar.
Miano said the initiative will not only demonstrate Kenya's proficiency in infrastructure development but also create opportunities for Kenyan professionals on the global stage.
"With this milestone and others done in the country and in Togo, the Kenya Kwanza Government is even more emboldened to promote local companies like GAG to construct multi-billion projects in Kenya, across Africa and the rest of the world," she said.