With its Vision 2030, Mauritius confirms its will to transform, diversify and modernise its economy and infrastructure, while encouraging sustainable development and quality of life according to the triple concept of work-live-play. Thus, the 2015-2016 budget reflects the ambitions of the government to transform Port Louis harbour into a regional hub, to build Smart Cities, to promote the renewable energy sector through the Mauritius Renewable Energy Agency, to provide support to the financial sector, which contributes 10.3% to the GDP and employs over 15 000 highly-skilled professionals, or to develop the oceanic industry, a future economic pillar.
For investors, whether local or foreign, this represents real business opportunities in advanced fields such as biotechnology, agro-industry and organic farming, aquaculture, exploration of seabeds for hydrocarbons, sea-water air conditionning (SWAC), precision engineering, medical technology and even vocational training.
The creation of Smart Cities, for example, will require an infrastructure (recycling plants, desalination, power generation plants, etc.) for which tax incentives were announced. Similarly, they provide a framework for innovative companies specialised in research and development or high-precision industries.Once again, incentives have been proposed, such as tax deductions on expenses incurred for scientific research, or for the purchase of equipment. This confirms an implementation strategy for Africa, combined with measures, grants and institutional instruments to develop special economic zones such as Ghana, Senegal and Madagascar.
A global vision that aims to make Mauritius a strategic development partner and a business platform across the region.
The Board of Investment, whose main function is to promote Mauritius as a business center, has recently positioned itself abroad to be closer to potential investors. An office is already operational in Paris and Johannesburg; a third will be opened by the end of the year in New Delhi.
And next year, it will be the turn of London, Geneva and Beijing. Other innovations: the Invest Lounge, a one-stopshop for projects exceeding an investment of 500,000 euros. The goal would be to facilitate administrative procedures and the granting of permits.
A courted Diaspora
The Mauritian Diaspora Scheme has been created as a special program to encourage professionals of the Mauritian diaspora to return to Mauritius.
They will enjoy a number of benefits, such as tax exemption on income for a period of ten years, exemption from customs duties for the purchase of a vehicle and on registration fees for buying a property within a Smart City or a PDS.
More information available at: www.diaspora.mu