Mauritius: Foreign direct investments climb up
A view of Port Louis, the capital of Mauritius (Source: www.destinasian.com)
Despite the difficult economic context, foreign direct investment (FDI) in Mauritius continued its upward climb, rising 16.1 percent in the first six months of 2013 to 4.736 billion rupees ($153.27 million) from 4.077 billion a year ago. The figures were released by the central bank on September 13.
Sector-wise, the central bank said that the real estate sector attracted most investment in the first half at 2.94 billion rupees, followed by construction, which got 638 million rupees.
France was the biggest source of foreign direct investment with 1.31 billion rupees followed by South Africa which put in 725 million rupees. According to the central statistics division of Mauritius, 750 million rupees had been received from France in the January to March period. In 2012, for the full year, France had directed 2544 million rupees of FDI to Mauritius.
According to the World Investment Report 2012 by UNCTAD, FDI inflows in Mauritius increased from USD 273 million in 2011 to USD 361 million in 2012, representing an increase of 32%. In fact, UNCTAD places Mauritius in the top five in the SIDS (Small Island Developing States) category which regroups 29 countries, both in terms of FDI inflows and outflows.
The UN agency also acknowledges the successful diversification of the Mauritian economy from agriculture and manufacturing towards financial services, business process outsourcing, luxury real estate and medical tourism.
The island nation has been successfully marketing itself as a gateway to Africa and is well-established as a popular investment destination.
Source: Reuters, www.investmauritius.com