Orrick’s Paris team is advising the Government of Madagascar on the creation of a new agency to spark economic investment in the country. This development comes just after approval this summer by the International Monetary Fund of an extended credit facility to help reinforce macroeconomic stability and boost sustainable and inclusive growth.

The Agence Malagasy de Développement Économique et de Promotion des Entreprises (AMDP) is part of an economic plan to attract French-speaking investors to Madagascar and to monetize the nation’s natural resources. In particular, the country hopes to grow in the areas of agriculture, energy and tourism. Madagascar continues to rebuild its infrastructure and key institutions after extended political turmoil during 2009-2013.

Last week, our team met with President Hery Rajaonarimampianina for AMDP’s official launch, which received coverage in Les Échos. To read the full French-language interview with President Rajaonarimampianina, who will serve as honorary President of the Agency, click here (subscription required).

The Agency’s economic goal of cooperation among countries and regions of the Francophone world fits within the larger framework of the International Organization of la Francophonie (OIF), of which Madagascar is a member. In November, Madagascar will host the 26th Francophonie Summit, a major international meeting of 80 French-speaking countries as well as members of the OIF.

The Orrick team advising on this endeavor is led by Partner David Syed and includes Of Counsel Yun Ma and Senior Associate Adrien Guidet.