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.
Foreign Offices
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
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