Madagascar might not be the first name that comes to mind when one thinks of global investment hubs. But Thomas Ottosen, the quietly determined CEO of Madagascar Invest, believes that’s exactly why it’s worth paying attention to. In a candid conversation with TheCEO.in, he talks about why Indian investors are uniquely positioned to tap into the island nation’s untapped potential and why now may be the perfect time.

Q: Thomas, Madagascar isn’t a market that most Indian investors would be deeply familiar with. What would you say to someone hearing about its potential for the first time?

Thomas Ottosen:
That’s a fair point, and honestly, it’s also the opportunity. Madagascar isn’t overexposed or saturated like many emerging markets. What it offers is a kind of quiet potential that’s just waiting for the right partners to come in and unlock it. It’s a country rich in natural resources, strategic location, and human capital, yet it hasn’t seen the scale of investment it deserves.

So, when people ask me, “Why Madagascar?” I say: Because the foundation is there, and the future hasn’t been written yet.

Q: What exactly does Madagascar Invest do in this ecosystem?

Thomas Ottosen:
We see ourselves as enablers. Our team works with global investors to help them find the right entry points into Madagascar, be it in agriculture, energy, tourism, mining, or digital services.

But we go beyond matchmaking. We help navigate regulations, build partnerships with reliable local players, and most importantly, de-risk the process. It’s not about dropping capital and walking away. It’s about building sustainable, long-term value, for the investor and for Madagascar.

Q: You’ve recently shown strong interest in building bridges with Indian investors. Why India?

Thomas Ottosen:
India and Madagascar already share some strong historical and cultural links. There’s a thriving Indian community in Madagascar that’s been here for generations. That creates a natural comfort level. But beyond that, we’ve seen how Indian entrepreneurs approach new markets, with adaptability, patience, and deep relationship-building.

And if you look at the sectors where Madagascar is growing, agriculture, processing, solar energy, digital infrastructure, these are areas where India has world-class capabilities. It’s a good match, and we want to actively build on that.

Q: What sectors are seeing the most traction right now? Where should Indian investors be looking?

Thomas Ottosen:
Agribusiness is number one. We have vast arable land, fertile soil, and a tropical climate that supports year-round cultivation. What we need is scalable know-how in processing and logistics, areas where India is incredibly strong.

Renewable energy is another. Madagascar is heavily reliant on imported fuel. Indian expertise in decentralized solar, microgrids, and storage solutions can help us leapfrog traditional energy models.

We’re also seeing interest in infrastructure, healthcare, and digital connectivity. From affordable housing to diagnostic centers to mobile fintech, the space is wide open.

Q: What does the business climate in Madagascar look like today? Are there real incentives for foreign investors?

Thomas Ottosen:
There’s definitely progress. The government has been taking steps to simplify processes and open doors to global investors. Special Economic Zones are in place, there are tax breaks and export incentives, and institutions like the Economic Development Board of Madagascar (EDBM) are getting more efficient.

But more than the policies, what matters is the mindset. There’s a growing understanding here that foreign investment isn’t just welcome, it’s essential for growth. That’s creating an energy you can feel on the ground.

Q: What about the risks- infrastructure, policy shifts, red tape?

Thomas Ottosen:
They exist, and it would be unfair to say otherwise. Madagascar is still evolving as a business destination, and that comes with certain challenges. Infrastructure, for example, is improving, but it’s not yet on par with global standards in every region.

That’s exactly where we come in. Madagascar Invest exists to absorb some of that friction, whether it’s understanding local regulations, securing the right land, or helping set up cross-cultural teams. With the right guidance, the rewards far outweigh the risks.

Q: Can you give us a real-world example of an investment that’s worked well?

Thomas Ottosen:
Of course. We helped an Indian company set up an organic spice processing unit just outside Antananarivo. With local sourcing and Indian-quality processing, they now export to Europe and East Asia. The returns have been strong, but more than that, it’s created jobs, brought skills into the region, and opened up a new export category for the country.

That’s the kind of win-win we’re always aiming for.

Q: If there’s one thing you wish Indian investors understood about Madagascar, what would it be?

Thomas Ottosen:
That they’re early, and that’s a good thing. Most global investors still see Madagascar as off the radar. But being early means having the first pick of opportunities, shaping markets, setting benchmarks.

Madagascar isn’t the next big thing, it could be the next big thing. But only if the right partners come in with the right mindset. And we believe India can lead that change.

Madagascar looks interesting as an investment opportunity, right? Just connect with Madagascar Invest and get started today!