Mauritius’ Board of Investment set to pursue new economic vision 2015-19
The first edition of BOI’s newsletter for 2015 has chosen to put the spotlight on the Government programme, which will shape Mauritius for the next four years on the economic principles of “Innovative Socialism.” (Image: Wikipedia)
Mauritius’ premier investment promotion agency, the Board of Investment, has emphasised the new economic model with a focus on the vision presented by the newly elected Government to move the island economy forward over the next five years.
The first edition of BOI’s newsletter for 2015 has chosen to put the spotlight on the Government programme, which will shape Mauritius for the next four years on the economic principles of “Innovative Socialism”, with key strategic objectives targeting sustainable economic development, job creation and an equitable distribution of wealth.
Moreover, the BOI recognised the new economic pillars of development such as a regional bunkering centre, the development and growth of the marine economy, the implementation of the duty-free-paradise concept and ICT-enabled services will significantly broaden the economic architecture of the country.
The BOI also notes that attention must be placed equally on Africa. Accordingly, the support provided by the government to entrepreneurs eyeing Africa will intensify, be it for the manufacturing sector or cross-border investments. The successful materialisation of the Africa Strategy requires an improved air and sea connectivity to tap major markets across the continent.
The investment government institution believes in the implementation of economic measures in all transparency and a spirit of good governance, of the vision set out in the 2015 programme will enable Mauritius to sustain and improve its position as an investment destination and business centre of choice.
The 2015-2019 Programme recommends strong actions to revitalise private investment in the existing pillars of the economy with an emphasis on greater business facilitation and improvement of the investment climate. The plan suggests revisiting and unlocking several investment projects that have been stuck in the pipeline for too long.
These projects will be executed on a joint venture basis with the participation of local private sector and international investors. This new approach will instil a new confidence factor in the whole business community.
The Government Programme underlines that to achieve a higher growth rate, it is essential to have macroeconomic stability. To this end, there will be better coordination of monetary and fiscal policies. Urgent emphasis will be placed on resolving the problem of excess liquidity in our banking system, inflation will be kept under control, and new policies will be implemented to raise national savings.