Launching of the book ‘Doing Business in Mauritius’: a useful guide for potential investors.
The book will be a useful guide for potential investors. We must keep up our efforts to attract private investment as it is the primary source of economic growth and job creation.
Between 2009 and 2015 we have been witnessing a decline in private investment as a ratio of GDP. This has been the main reason behind the declining growth of our economy, which resulted in sluggish job creation.
This Government has taken new measures to improve the ease of doing business, intensified our promotion campaigns abroad and strengthened the major economic institutions and infrastructures.
Here are some examples:
- An e-licensing platform was launched by the EDB to process 245 types of permits/clearances via this single platform.
- Two ongoing infrastructure projects that will redefine our economy and society. These are the Metro Express and the transformation of our port from a destination port into a hub for the region.
- Metro Express will open opportunities for new businesses, especially in and around the stations. We are confident that most of these new activities will be run by SME’s.
- Our film industry is taking off, attracting highly reputed film producers.
- The digital economy is unfolding and our plan is to develop Mauritius into a Fintech hub for the region.
- Our Africa strategy is making its way and so is the ocean economy endeavour.
- The unemployment rate is on a downward trend – it is now at 7.1 percent, which is the lowest in 16 years.
- Private investment as a ratio of GDP, is now on a rising trend.
- Foreign Direct Investment has increased to Rs 17.5 billion in 2017 from Rs 13.6 billion in 2016. This is a 28 percent rise.
- Negative Income Tax.
- The minimum wage, the most important reform in the labour market for decades.