Mauritius A Nurturing Environment

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4 Mauritius A Nurturing Environment

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9 Mauritius Key Facts Population: 1,280,925 GDP per capita: US$ 7,000 (market price) GDP per capita: (PPP) : US$ $13,500 (2010 est.) FDI:US$ 330m p.a. (av. 2006/10) CPI: 3.2% (av.) Repo rate: 5.75% Socio-Economic Conditions Labour force: 597,000 Public Spending on education: 3.1%GDP Tertiary Enrollment: 1,500 p.a. Human Resources # mobile subscribers (per 1000): Broadband connectivity with EU and S.E Asia Daily flights to EMEA, Asia Links to all major seaports Connectivity No Natural Resources

10 Mauritius Diversification and Growth GDP Market Price US$ 6.0bn 4.7bn US$ 9.3bn 6.7bn ICT 6% FS 12% Other national output* Tourism 7% Manuf 19% Sugar 2% US$ 3.9bn 3.1bn ICT 6% FS 10% Tourism 8% Manuf 19% Sugar 4% US$ 1.1bn 830m FS 11% Tourism 4% Manuf. 13% Sugar 6% US$ 301m 235m Manuf 24% Tourism 3% Manuf 10% Sugar 23% Sugar 14% Diversification by Industry Group Calculated as a % of factor cost. Other national output includes education, healthcare, government expenditure and non-export output (construction etc.) among others Source: CSO; GDP by industry group ; av. buy & sell XR movements for year (76 & 85 av. rate used)

11 Economic Trajectory ( ) Biotechnology Marine and Seafood Creative industries Renewable Energy and Environment Knowledge and R&D ICT 5.8% Logistics 11.1% Property and Real Estate 11.5% Healthcare, wellness and Medical Tourism 3.4% Information and Communication Technologies Logistics Property and Real Estate Healthcare, wellness and Medical Tourism Agro-Industry 6% Manufacturing for Exports 25% Tourism 5% Financial Services 13.2% Agro-Industry 4.7% Manufacturing for Exports 20.1% Tourism 8.6% Financial Services 10.8% Agro-Industry Manufacturing for Exports Tourism Financial Services

12 Export Processing Zone Infrastructure EPZ not restricted to designated industrial estates or enclaves but is instead dispersed throughout the whole island. Necessary legislative framework was created. Labour market Availability of surplus labour Labour costs about 25% of those in Hong Kong and Singapore Bilingual Highly adaptable workforce Setting of IVTB by government to maintain attraction of the labour market Fiscal incentives Income tax reliefs and exemptions from customs duties on EPZ related imports and exports Free repatriation of capital, profits and dividends Availability of preferential financing schemes

13 The EPZ - Evolution STAGE 1 Take off ( ) Vigorous expansion of investment, employment and exports High level of imports of plants and machinery Net export coefficient at around 10% STAGE 2 External and Internal ( ) Sustained but slower expansion Slow increase in employment Limited role of foreign investment Rise in exports coefficient close to 40% STAGE 3 Revival of the Boom ( ) Rapid expansion Surge in the number of companies Employment growth Foreign investment amounting 25% of total EPZ investment Export coefficient averaged at 26% STAGE 4 Consolidation and Reorientation ( ) Slow initial decline in export growth Decline in the number of companies Stagnant employment level Net export coefficient eased to slightly below 20 percent

14 2006 The Turning Point Opening of Economy From Trade Preferences to Global Competitiveness The Business Facilitation Act Investment Schemes Harmonised Fiscal Regime Harmonised

15 Mauritius International Rankings Indices World Bank Doing Business Survey 2010 Outsourcing Readiness Index (Africa) 2009 Ranking 1st in Africa 20 th out of 183 countries 2nd in Africa Mo Ibrahim Index for Good Governance 2009 Global Competitiveness Index 2008 Democracy Index 2008 International Property Rights Index 2007 Index of Economic Freedom st in Africa 3 rd in Africa 57th out of 133 countries 1 st in Africa 26th out of 167 countries 3 rd in Africa 44th out of 115 countries 1 st in Africa 12th out of 179 countries

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17 Administration & Permits Set up a typical company in an unregulated activity in 3 working days The Board of Investment: facilitates setting up of foreign investors and talents in Mauritius delivers investment certificates for residential property projects selling to foreigners

18 Investors Perspective Mauritius combines a strong business environment with a unique quality of life Investors top 5 reasons to invest in Mauritius Political & socio-economic stability Ease of doing business Quality of life & cultural compatibility Competencies & skills of a bilingual workforce Reliable modern infrastructure Additional factors: Low business costs Harmonious Industrial Relations Market Access Mature Financial Services Sector Supportive Government policies

19 Mauritius-China: A Strong Partnership Algeria Egypt Nigeria Zambia Ethiopia Mauritius China

20 Mauritius Jinfei Economic & Trade Cooperation Zone Project Setting up of an economic & trade cooperation zone at Riche Terre Land Area: 211 hectares Investment: USD 1.3 billion ProposedActivities: Manufacturing & Processing: High-Tech Industry, Food Processing, Medical Devices & Pharmaceutical, Renewable Energy Logistics & Trade: Warehousing, Trading/Commercial Activities, Freeport Activities Info & Business: Business Centre, Office Space, Hotel/Hospitality Residential Community: Knowledge (Universities/Business School), Hospital, Apartments/Villas

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22 Incorporated in August 2009, the Zone Company hosted the grand groundbreaking ceremony on September 16, 2009.

23 Mauritius Jinfei Economic & Trade Cooperation Zone We have chosen Mauritius because of its friendly people, conducive business environment, favorable policies and Government support. Mauritius enjoys preferential market access to the EU, US, COMESA and SADC. Particularly, Mauritius can act as an ideal platform for Chinese enterprises to do business with Africa. CEO of Jinfei

24 Board of Investment The Governmental Agency responsible for investment promotion and facilitation in Mauritius Services offered include: Counselling on investing in Mauritius Providing information on current business conditions Organisation of meetings and visits Identification of joint venture partners Africa Strategy

25 ThankYou The Place where you want to be Board of Investment, Mauritius