In recent years, information and communication technology, seafood, hospitality and property development, healthcare, renewable energy, and education and training have emerged as important sectors, attracting substantial investment from both local and foreign investors.

Why Mauritius?

1.A COMPETITIVE, WELL-DIVERSIFIED & BROAD-BASED ECONOMY

Over the years, Mauritius has crafted a strong growth-oriented developmental path which has enabled us to achieve one of the highest per capita income in Africa. Indeed, from USD 400 in 1968 when we obtained our independence, our development strategy has propelled us in the league of high-income countries with a GNI per capita of USD 12,740 in 2019. 

2.GOOD GOVERNANCE AND INVESTOR PROTECTION

Mauritius is a beacon of political, social and economic stability. With its wide network of Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements (IPPAs), Mauritius offers investors a conducive environment for doing business which guarantees predictability, certainty and security. 

3.INTERNATIONAL ACCOLADES/ BENCHMARKS 

Mauritius is amongst the top 20 countries in the world for ease of doing business and has over the years consolidated its leadership position in Sub Saharan Africa.  This acknowledgement by the World Bank confirms that Mauritius remains a competitive and attractive jurisdiction for the international investors’ community. To further streamline processes and facilitate ease of doing business in Mauritius, the Economic Development Board, in collaboration with the European Union have officially launched the National Electronic Licensing System (NELS) on Thursday 28th March 2019. 

4.A SOPHISTICATED INTERNATIONAL FINANCIAL CENTRE OF SUBSTANCE 

Mauritius has a sophisticated, transparent and well-regulated international financial centre with a conducive ecosystem offering a complete range of financial products such as treasury management centres, global funds, protected cell companies, captives, family offices and trusts. To incentivize new activities, the Government has introduced tax holidays for setting up regional headquarters, investment banking, and fund management, amongst others.

5.TELECOMUNICATION

Mauritius is currently connected to two undersea cables namely: South Africa Far East (SAFE) and Lower Indian Ocean Network (LION)/LION2 cables for the provision of international Internet capacity. To position Mauritius on the digital superhighway, the island will be soon connected  to two additional international Fiber Optic Cables namely, the Indian Ocean Xchange Cable (IOX), linking Mauritius, Reunion Island and Rodrigues to South Africa and India and the MElting poT Indian Oceanic Submarine System (METISS) connecting Mauritius, Reunion island, Madagascar and South Africa. 

6.AIR CONNECTIVITY 

Mauritius is served by more than 20 Airlines and connecting over 150 destinations world-wide.  The country is well-placed to grow its footprint in Africa with code share agreements with South African Airways and Kenya Airways acting as two new gateways into the African continent.  The Single Africa Air Transport Market creates the potential for even broader connectivity.  

7.PORT CONNECTIVITY & CAPACITY 

Mauritius is developing an island container terminal to cater for container traffic beyond 2025. The Government is investing Rs 47 billion (USD 1.3 billion) for the development of the blue economy and the transformation of the Port Louis Harbour into a regional maritime hub. These projects include the construction of an island terminal, a wave breaker, a fishing port and storage facility for Oil and Gas amongst many others. The Mauritius Container Terminal (MCT) is set to become one of the largest container ports in the region; already, several projects are being implemented and with the wharf extension being completed over a length of 800 meters. This project, to the tune of MUR 6.5 billion, attests to the government’s vision to make Port-Louis the privileged maritime platform of the Indian Ocean.

Sector opportunities

1.CREATIVE INDUSTRY 

The creative sector is increasingly becoming a valuable segment contributing to the local, regional and global economies by generating income, jobs and exports. As per the government’s vision the creative sector is a potentially new economic driver to stimulate growth, job creation and investment. In Mauritius, the creative economy is evaluated at 3.5 % of GDP, representing approximately 14 billion rupees.

2. FINANCIAL SERVICES. A SOPHISTICATED INTERNATIONAL FINANCIAL CENTRE OF SUBSTANCE

The Mauritius IFC boasts more than two decades’ track record in cross-border investment and finance, and offers an unparalleled well-regulated and transparent platform. As an internationally recognised jurisdiction of repute, the Mauritius IFC is home to a number of international banks, legal firms, corporate services, investment funds and private equity funds.  

Leveraging on its state-of-the-art infrastructure, modern and innovative legal framework and ease of doing business regime, the Mauritius IFC offers a panoply of competitive financial products and services, including private banking, global business, insurance and reinsurance, limited companies, protected cell companies, trust and foundation, investment banking, global headquarter administration, amongst others. 

Opportunities & Services:

• Treasury services, including foreign currencies, risk management and investments.
• Funds, including Shari’a-compliant investment funds.
• Trade Finance, including letters of credit, bank guarantees and collection and discounting of bills.
• Representative offices of foreign banks in Mauritius
• Regulatory Framework

3.LIFESCIENCES 

In line with Government`s vision to broaden the economic space, the Economic Development Board has identified medical biotechnology as a sector of immense potential with high value-added activities. Mauritius has a nascent clinical research industry which presents enormous potential for expansion. The introduction of the Clinical Trials Act in 2011, has led to significant emphasis on clinical research. The medical biotechnology sector accounts for a turnover in excess of MUR 2.3 billion and there are currently 5 Contract Research Organizations operating on the island and carrying out trials on various pathologies such as hepatitis, diabetes, HIV etc. Mauritius represents a multi-ethnic, drug naive population. With infectious and lifestyle diseases like diabetes, cardiovascular diseases, cancer, hypertension prevailing in the countries and countries of the region, there is great opportunity for running clinical trials.

4. OCEAN ECONOMY

Mauritius is a tiny land mass surrounded by a vast maritime zone of 2.3 million square kilometers and an additional sea area of 396 000 square kilometers co managed with Seychelles. The ocean represents our historical, cultural, environmental and economic heritage.

The Mauritius blue economy is currently represented by coastal tourism, fishing, seafood processing and seaport activities that are also considered as traditional ocean activities. These activities excluding coastal tourism represent 10% of the Growth Domestic Product (GDP) and employ around 7,000 people.

The Government aims at increasing the share of GDP of the blue economy to 20% in the medium term. The strategy would be to work on the consolidation of traditional activities but also develop emerging ones such as aquaculture, maritime services, marine biotechnology and oil & gas exploration.

Opportunities: 

• FISHING The Indian Ocean holds the second largest stock of tuna resources: Albacore tuna, the Bigeye tuna, the Skipjack tuna and the Yellow fin tuna.
• SEAFOOD PROCESSING Preferential market access to the EU, USA and regional countries.
• QUACULTURE Strategic review of aquaculture sites for the Fisheries and Marine Resources Act. Sites to be proclaimed soon.

5.RENEWABLE ENERGY 

Mauritius target 40% of renewable energy in its electricity mix by 2030 from a current 21.7%. This projected target is higher than IRENA and SEFORALL global renewable energy targets of 30 to 36% of renewable energies contribution in the energy mix by 2030. To this effect, utility scale solar and wind projects of a total capacity of some 80 MW are currently grid connected resulting in an increase in electricity generated from primary renewable energy sources from 5.5% in 2016 to 8.1%. Government aims at achieving its target of doubling the contribution of renewable energy in the electricity mix through the implementation of targeted strategies, namely:

6. REAL ESTATE & HOSPITALITY 

The real estate development is in pursuit to make Mauritius a vibrant business and financial hub. The strategies at work are to bring in the following three outcomes: a competitive economy with world class infrastructure (housing, retail and lifestyle infrastructure), facilities and amenities in order to attract world class players, regional headquarters and multinationals; a sustainable environment that can optimise land use, protect amenity and preserve a high-quality living environment; and a high-quality of life to root and attract talent to support the economy. The development of a network of smart cities over the island is helping Mauritius to again re-invent itself, this time from an industrial country into a high-tech and service-based economy. 

7. LOGISTICS 

The setting up of the Mauritius Freeport in 1992 was aimed primarily at developing Mauritius into a competitive logistics and distribution centre for international trade. It has over the years grown into a thriving business platform and is home to global operators. Airport of Mauritius Ltd is pursuing the modernization of SSR International Airport and is working towards setting up the necessary infrastructure to allow private sector partners to develop new business activities. A new zone has been identified, as part of the Airport Master Plan, in the southern part of the airport for the implementation of a new Cargo and Freeport zone to create adequate facilities with a view to increase annual freight volume up to around 90,000 tons by 2025. Airports of Mauritius (AML) has earmarked over 34.6 hectares of land to create serviced plots that are now available for lease to interested operators and developers willing to set up cargo, freeport and logistics facilities.

8.MANUFACTURING – NEW INDUSTRIES The manufacturing sector remains a major GDP contributor (12.5% in 2019) of the Mauritian economy. Advancement in technology, changing consumer preferences, demographics, digitalisation are shaping the new manufacturing landscape. In line with Government’s Vision 2030 there is much emphasis on revamping the manufacturing industry through diversifying its industrial base and adopting a value-added strategy. 

The Economic Development Board

T: +230 203 3800

Email: contact@edbmauritius.org