IC 8196 Mineral Resources Of The Malagasy Republic ? Introduction

The possible contribution of an improved mineral economy to the further advancement of the lesser developed regions of the world is a vital consideration today. Many of the newly independent countries recognize the problems and the challenge involved in orderly development of mineral resources. Some countries are inventorying resources, planning development, and encouraging local and foreign participation. The Malagasy Republic, composed of the island of Madagascar and the immediately adjacent islands, formerly the French Overseas Territory of Madagascar, is one of the members of the French Community which achieved independence in 1960. It is making real progress towards improving its mineral economy, an effort particularly remarkable considering the generally unfavorable geographic location of the area with respect to world markets and what is, after all, a comparatively sparse-economic mineralization in the light of discoveries to date. Most of the development of the Malagasy economy before independence was fostered by French private enterprise, although the State participated in some ventures. Since independence, the Government has encouraged private investment from a variety of sources through favorable legislation and has indicated that legitimate investment projects that will further advance social and economic programs will be welcome.