Mauritius attracts FDI of Rs 7.93 bn in first half of 2014 on real estate boost
The real estate sector attracted the maximum FDI in the first half of 2014 at Rs 3.19 billion against Rs 5.92 billion received across the full year 2013. (Image: Mauritius Property)
Mauritius attracted Foreign Direct Investment (FDI) of Rs 7.93 billion in the first six months of this year, boosted by investments into the real estate sector, according to data published by the Bank of Mauritius.
The real estate sector attracted the maximum FDI in the first half of 2014 at Rs 3.19 billion against Rs 5.92 billion received across the full year 2013.
Of this, the share of the Integrated Resort Scheme (IRS)/ Real Estate Scheme (RES)/ Invest Hotel Scheme (IHS) is estimated at Rs 2.13 billion for the first six months of 2014, compared to Rs 4.59 billion received for 12 months in 2013.
The hospitality sector received Rs 2.23 billion from January to June 2014, financial and insurance activities attracted Rs 1.42 billion, while Rs 19 million went into the share of agriculture, forestry and fishing.
The report also highlighted that investments of Rs 26 million went to manufacturing; Rs 36 million to utilities (electricity, gas, steam and air conditioning supply); Rs 260 million to construction and Rs 40 million into wholesale and retail trade as well as repair of motor vehicles and motorcycles.
In addition, FDI in professional, scientific and technical activities amounted to Rs 1 billion while administrative and support service activities attracted Rs 2 billion worth of investments from overseas.
During the first semester of 2014, ‘Information and communication’ and ‘Human health and social work activities’ attracted investments of Rs 139 million and Rs 532 million respectively.
Analysing investments by geographical origin, developed countries brought in Rs 5.95 billion to Mauritius for the period January to June 2014, with France as the main source country for Mauritius-focused FDI, bringing Rs 2.17 billion to the island economy.
France was followed by the United Kingdom, which invested Rs 776 million in Mauritius till mid-2014, while the United States brought in the least investment among all developed countries at Rs 24 million.
The total investments coming from developing economies amounted to Rs 1.97 billion, hailing mainly from Asia at Rs 1.12 billion, and followed at a distance by Africa at Rs 842 million.
Concerning direct investments made overseas by Mauritian companies during the first half of the year, the total amount is estimated at Rs 1.66 billion against Rs 4.13 billion for the full year in 2013.
Investments of Rs 531 million were dedicated to health services, while hospitality benefited from Rs 410 million, Rs 307 million was allocated to the financial services sector and Rs 241 million went to the real estate sector.
Total investments by Mauritius in African economies hit Rs 685 million, of which Rs 124 million went to Kenya, Rs 50 million to Madagascar and Rs 467 million to the rest of Africa, excluding South Africa, Mozambique, Reunion Island and Seychelles.
Mauritian investment in France also saw robust growth, from Rs 212 million for the whole year in 2013 to Rs 543 million in the first semester of this year alone.
Finally, there was also a noteworthy increase in Mauritian direct investment directed towards the United Arab Emirates, at Rs 188 million for the first half of 2014 compared with Rs 163 million for the full year in 2013.