Mauritius enters into an Investment Promotion and Protection Agreement with United Arab Emirates to boost cross-border investment.
Mauritius and United Arab Emirates has signed an Investment Promotion and Protection Agreement with objective of boosting cross-border investment by protecting investors from direct or indirect double taxation, improve commercial and economic relations and broaden investment opportunities.
The Minister of Finance and Economic Development, Vishnu Lutchmeenaraidoo, has signed an Investment Promotion and Protection Agreement with the government of the United Arab Emirates.
This agreement is of strategic importance as significant economic exchanges are planned with the United Arab Emirates (UAE) for major development projects, in particular the Maritime Hub of Port Louis.
The Finance Minister had working sessions with the UAE authorities to discuss about employment opportunities for Mauritians in Dubai as well the development of an investment corridor between Dubai and Africa via Mauritius.
Lutchmeenaraidoo and his delegation held extensive discussions with DP World, the UAE port operator which currently manages 65 ports around the world, in regards to the development of the Maritime Hub, including the setting up of a free port in the area of Jinfei at Riche Terre.
A delegation of DP World is expected in Mauritius on September 28 to have further discussions on the Maritime Hub and the free port.
The Mauritian delegation also had meeting with potential investors, such as Allana Group, the UAE Exchange and Pure Gold Group, who have expressed interest to invest in Mauritius in the sectors such as manufacturing, financial services and the free port among others, or who want to use Mauritius as a platform to invest in Africa.
Fi8nally it is t noted that Mauritius is positioning itself as an international financial centre that aims to connect the African continent with the largest financial centers in Asia, the Middle East, Europe and the United States and as at date, Mauritius has signed 42 Investment Promotion and Protection Agreements.