Mauritius is constantly reinventing itself. The country is taking advantage of its strategic position at the crossroads of Africa, Asia and Australia. It is gradually transforming itself into an international center and jurisdiction for investors seeking security, transparent regulation and high added value.
Over the years, the economy has changed dramatically. The trigger came when the country abandoned a single-crop farming model in favor of a diversified, knowledge-based and innovation-driven economy supported by a wide range of activities. Mauritius offers excellent opportunities for business in the following sectors:
The Food Industry
The geostrategic position of Mauritius gives it a number of advantages, including safe and protected agricultural production against pests and diseases, as well as a quarantine and surveillance system that contribute to the high quality of its agricultural products.
The new agro-industrial landscape is now oriented towards improving food security through investments in technology-based production and high value-added activities.
The agri-food sector offers investment opportunities in the following areas::
- Agri-food processing activities
- Agricultural biotechnology
- Organic farming
- Dairy farming
- Technology-based agriculture such as hydroponics and aquaponics and integrated agriculture
Located in one of the world's cleanest oceans, Mauritius offers investment opportunities in:
- The breeding of fish in traps in the lagoon for a production varying from 300 to 500 tons per unit,
- Breeding in out-of-lagoon traps with an approximate capacity of 2,000 tons per production unit,
- Aquaculture farms,
- The breeding and fattening of tuna in traps, as well as
- High-tech production techniques
A list of fish species, already pre-approved by the Ministry of Fisheries, is available in the 2007 Aquaculture Master Plan.
Mauritius has become a recognized provider of quality education in the region. Investment opportunities exist in the establishment of schools:
- Pre-primary, primary and secondary international level;
- Trades Learning Center;
- University campuses, schools for the professional sector
Recognized as a well-regulated jurisdiction that inspires confidence, Mauritius has established itself as an international financial center for cross-border investment. Investment opportunities exist in:
- The banking sector (private banks and investment banks)
- Insurance and reinsurance
- Stock market listing and capital raising (by regional companies, mining exploration companies, global funds as well as Global Business Companies (GBC))
- Administration and management of funds
- Corporate Service Providers
- Accounting and auditing services
- International Legal Services
- Real Estate Brokers
- Regional Headquarters
- Registration of aircraft and ships
- Surveillance services
- Regional Treasury Centers (RTCs)
- Wealth management and investment consulting firms
The health sector in Mauritius has been transformed into an integrated cluster supported by a core of high added value activities such as hi-tech medicine, medical tourism, medicine and property education -be. Multinational healthcare companies have invested in centers of excellence with multiple specializations and super-specialized to best meet the healthcare needs of both domestic and international patients.
There are possibilities for setting up:
- Medical institutions with multiple specialization and super-specialized
- Specialized Centers for Diabetes Research and Treatment
- Geriatric centers specializing in the care of the elderly and rehabilitative medicine
- Therapy centers specialized in new treatments from stem cells
- Reconstructive aesthetic surgery clinics
- Dental surgery clinics and dento-facial orthopedics
- Convalescent clinics offering specialized care to patients with acute and chronic diseases
- Wellness and Health Centers
Hotel & Real Estate
Mauritius has succeeded in positioning itself on the international stage as a top-class tourist destination.
One of the measures announced in the 2015/2016 budget was the restructuring of the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). As a result, the Investment Promotion Act was amended by the Finance (Miscellaneous Provisions) Act 2015.
The legislation governing investment promotion provides for the establishment of a Smart City Scheme (SCS) and the Property Development Scheme (PDS) - the integrated real estate development program. The two new plans will be administered by the BOI under new regulations. In addition, a master plan is being prepared for the development of these sectors.
The Smart City Scheme (SCS) will promote targeted economic activities while strengthening the industrial and service base as well as the path to economic diversification to promote and support environmentally sustainable development.
The Property Development Scheme (PDS) is expected to attract more investment from abroad by allowing non-citizens to acquire apartments and other real estate as part of the program.
Permits or certificates already issued to companies for the development of IRS or RES projects will remain in force. On the other hand, non-citizens who acquire real estate under the IRS or the RES, for an amount in excess of US $ 500,000 or the equivalent, will still be able to apply for a residence permit.
However, the BOI will continue to review applications submitted under the provisions of the Invest Hotel Scheme (IHS).
The ICT-BPO industry has grown rapidly as operators from value-added businesses compete. The sector has developed special capabilities in telecommunications, BFSI, IT Application Development as well as maintenance. Opportunities exist in the following sectors:
- Outsourcing: voice and voice (customer service, technical helpdesk, telemarketing, front office management)
- IT Outsourcing, Data Centers and Disaster Recovery
- Multimedia and design
- The development of mobile applications
- Knowledge Process Outsourcing as Legal Process Outsourcing - legal services
Mauritius has designed an ecosystem that allows companies in the ICT-BPO sector to develop. The country offers the following advantages:
- Proven testing area for new technologies
- Multilingual human resources trained as well as IT professionals
- Continuous decrease of around 15% per year in connectivity costs
- Excellent business environment for a great collaboration
- Competitive costs relative to the quality of the offer
- Reliable and redundant international connectivity with two international submarine networks
- Innovative Training Scholarships Offered by Government
In addition to being a proven bilingual provider for customer service and a safe alternative for high added value services, Mauritius is also increasingly seen as the ideal platform for business services Targeting Africa.
The Manufacturing Sector
The manufacturing sector has evolved towards the adoption of technology. It offers investment opportunities in the following areas:
- Textiles and Clothing
- Non-textiles including light engineering
- Food processing and seafood processing
- High-precision engineering including products such as watches and jewelry, medical devices, pharmaceuticals, electronic components and products, parts for the aerospace and automotive industry, among others.
The Cinematographic Industry
Mauritius has a lot to offer. Its pleasant climate throughout the year, its wide variety of natural sites, urban and rural areas, landscapes and incentives for film production are all attractions.
The Film Rebate Scheme, an expense reimbursement plan of 30% (QPE), was introduced in early 2013, making Mauritius even more attractive to Producers of international films. The rebate applies to a wide range of projects including feature films, TV movies, documentaries and high-end commercials.
The Ocean Economy
The government's vision is to make Mauritius, within the next ten years, a nation fully aware of its immense potential as an ocean state. The 2012-2015 government program identifies the development of the ocean economy as a priority area for economic growth and job creation. Many opportunities exist in this sector, namely:
- Fisheries, Aquaculture and Seafood Processing
- Exploitation of energy from oceanic depth currents
- Commercial ports
- Bunkering and storage of petroleum products, among others
As you can see, Mauritius is an open door to any genre of investment. Why not be the next investor in this wonderful island of the Indian Ocean?