The Mauritian authorities have been very prudent in adopting the best of international laws and practices. Today, the investment sector is among their foremost priorities. Not only the national Government but Multinational Companies (MNCs), too, are finding it a most desirable platform to work upon. The reasons are many, a few of which are the tiny nation’s political stability, low population and a strong economy.
Besides, Mauritius has several special service companies, trust laws, tax advantages, financial regulations and flourishing banking and insurance businesses. These have combined to make the nation an attractive investment centre. Indian companies have taken advantage of this facility in no small measure with many renowned Indian companies having set up shop there.
The major industries providing the best of business opportunities are:
- Infocomms and media
- Manufacturing and light processing
- Seafood and marine industry
- Hospitality and property development
- Biomedical industry
- Knowledge industry and
- Financial services.
INFOCOMM
Mauritius is poised to become the key regional ICT hub in this part of the world. Its competitive advantage lies in its ability to provide huge cost savings, thereby, increasing the profitability of companies. State of the art infrastructure, ICT security legislations, skilled, multi-lingual manpower, etc. are some of the other advantages it enjoys. The island nation also aspires to become a hub for telecommunication providers and digital media entertainment.
MANUFACTURING
Mauritius is among the first developing nations to have embarked on an Export Processing Zone (EPZ) in the 1970s. The manufacturing industry, along with tourism, has been a vanguard of the country’s economic development. As such, plenty of investment opportunities ar to be found in the areas of electronics,, micro-mechanics and precision mechanics, clock and watch making, precision plastics, energy production, agro-industry and jewellery.
SEAFOOD AND MARINE INDUSTRY
The Mauritius Freeport provides more than 80,000 cubic metre of storage facilities representing a capacity of more than 22,000 tonnes of fresh, chilled or frozen products. This is the largest in the Indian Ocean. The fishing port is equipped with bot private as well as government-owned deep-sea quays capable of berthing vessels ranging from15 mwtre boats to 200 metre plus reefer carriers.
A one-stop shop service dealing solely on seafood has been set up here. In the industry, investment avenues are plentiful. These are in Tuna transhipment, Seafood processing facilities, Aquaculture and fish farming, Ancillary services and Land based oceanic industry.
HOSPITALITY
The hospitality and property development cluster is fast becoming a driver of the nation’s economy. Over the last few years, a lot of new beach resorts and tourist villas have sprung up. International hotel groups as well as private builders are taking an active interest as they see this as a potential goldmine for Mauritius as well as themselves.
Besides, the government is giving a well-defined thrust to the sector through strategic ploys, namely:
- Opening up air access
- Promoting business tourism
- Developing Mauritius into a duty-free island and
- Allowing foreigners to acquire property.
Investment opportunities abound in activities such as Hotel development, Leisure activities, real estate property development.
BIOMEDICAL INDUSTRY
The island possesses a well-developed network of public hospitals, private clinics and also qualified, competent doctors, nurses, dentists and pharmacists. There also exists a number of prestigious institutions awarding medical degrees and proffering courses in Health Sciences, Engineering and Biotechnology. The Government is promoting Mauritius as a spot for medical tourism by increasing infrastructure pertaining to health care, wellness and leisure facilities. On the whole, this industry is witnessing tremendous growth.
KNOWLEDGE INDUSTRY
This industry has grown by leaps an bounds within a short time span. Possessing all the ingredients, facilities and scholars, the country is well poised to impart quality education and institutions to students from all over the world, boasting, especially, as it does of a ‘rainbow’ or a mixed population and culture. With a rich cultural heritage and strong bonds with Asia , Africa and Europe, it is only a matter of time before Mauritius comes to the forefront of the global education and knowledge industry.
FINANCIAL SERVICES
The financial services sector in Mauritius is a dynamic and vibrant one. This consists, primarily, of the banking an non-banking components. The latter encompasses Global Businesses, Trusts, Insurance, Stock Exchange, Leasing, etc.
To be slightly more specific, the areas which hold out greatest promise are Aircraft financing and leasing, Asset Management, Consultancy Services, Employment Services, Fund Management, Trading, Licensing.
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