A boost for regional economic development

Regional economic development is set to take off again post-Covid with the introduction of an ambitious five-year recovery plan. Initiated by Cap Business Indian Ocean, the main objective of the plan is to usher in a new paradigm of regional economic development, with an emphasis on more equity, sustainability, and resilience.

Major challenges

Officially launched on 22 November 2021, the plan focuses on key sectors like the blue economy, connectivity, tourism, energy, construction and agriculture while taking into account major issues like inclusion, biodiversity, the circular economy and low carbon emissions.

Funded by France, through a grant from the French Development Agency (Agence Française de Développement), the mission to accompany and accelerate transitions towards a more just and sustainable world has emerged as a reality.

 “This new strategy constitutes an important step in the development of our activities for the benefit of businesses in the region. The 2021-2026 roadmap is the result of a feasibility study through which we have identified priority sectors, as well as the major challenges facing our territories. Our aim is to support the regional private sector in a necessary transition towards more virtuous models in our main industries,” says Ms Virginie Lauret, Executive Director of Cap Business Indian Ocean.

Strategic autonomy

In order to implement its strategy, the organisation will strengthen public-private dialogue through the setting up of dedicated platforms. It will also participate in the lookout for solutions and provide support to project leaders through financing or technical assistance.

In the same breath, this recovery plan seeks to reposition Cap Business Indian Ocean. It is also intended to be a driving force to propel the capacities of this association through the constitution of a permanent team of heads of missions, and the consolidation of the strategic and operational autonomy of its governing bodies.

Cap Business Indian Ocean represents the private sectors of the Indian Ocean islands including Madagascar, Comoros, Mayotte, Réunion, Seychelles and Mauritius. It works in partnership with the Indian Ocean Commission and the French Development Agency.