Investments: Mauritius, the island of opportunities
Mauritius has not hesitated to diversify its economy, which was previously based solely on an agricultural monoculture. Over the years, successive governments have trusted innovators by encouraging them through the help of programs dedicated to growth and investment. As an investor, what are the sectors and programs that can lead you to Mauritius? Mauritius, one of the main leaders of the region of Africa The Economic Development Board Mauritius recalls some essential facts about the island: It ranks among the top six countries recommended for people wishing to change their lifestyle, It is one of the leading states in the African region in terms of business facilitation and good governance, Several reports rank it as first in Africa: Countries of choice for doing business in Africa – World Bank’s Doing Business Survey 2017, Most democratic nation in Africa – World Economic Forum – The Global Competitiveness Report 2016-2017, A leader in terms of African economic freedom – 2017 Index of Economic Freedom (Heritage Foundation), Success Story, economic success and good governance in Africa – The 2016 Ibrahim Index of African Governance Why do investors choose Mauritius? Mauritius’ economy currently rests on several pillars: The development of smart cities, The development of the ocean economy, Re-supply and transhipment, The implementation of the “duty-free shopping” concept on an international scale, Medical tourism and biotechnology, Port development and the improvement of Freeport services, Engineering and high precision, Renewable energy, Technology, innovation and communications Mauritius offers advantageous conditions for foreign investors who wish to establish themselves in the country to work. These include: Infrastructure and connectivity, A well thought through taxation system, A secure business environment, The benefits and security of a politically stable and innovative country with an educated population, A favourable geographical location, the island being the crossroads of Africa, Asia and Australia Good investment sectors in Mauritius The Agro-Food sector, which accounts for 3.3% of GDP and 7% of jobs (processing, bio, dairy farming, e-farming), Education, which accounted for 12% of public spending in 2017, Health care, especially medical tourism, ICT-BPO, more specifically, outsourcing, with approximately 24,000 jobs and 800 businesses, Freeport logistics, supported by 7500 square meters of fast-rotation cargo storage facility, The film industry, which weighed 1 billion rupees in 2017 and is supported by the Film Rebate Scheme, Smart Cities, designed to raise the country’s standard of living through living spaces that integrate amenities, professional and leisure areas, Financial Services, in an environment overseen by the Financial Services Commission, The Stock Exchange of Mauritius, with a market capitalization of approximately 7 billion dollars, Real estate and hotel development, thanks to many programs dedicated to foreign investors, Life Sciences, supported by more than 1,300 professionals and nearly 30 companies, The manufacturing sector, with approximately 98,700 employees, more than 700 businesses and 11.8% of GDP in 2017, The ocean economy, which accounts for 10.5% of Mauritius’ GDP and 20,000 employees, Renewable energy, with projects that are working to support growing consumer demand While experts had predicted a bleak future in Mauritius at the time of its independence, the island has proved to be a key economic player in this part of the world, to the extent that every year, many investors settle for this firmly embedded Republic.
