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AfricaMoney | August 23, 2017

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Mauritius ICT & Innovation Minister sees ‘Second Economic Miracle’ by 2020

Mauritius ICT & Innovation Minister sees ‘Second Economic Miracle’ by 2020

Pravind Jugnauth congratulated NJ Global on choosing Mauritius as a sound investment platform and highlighted the deep economic relationship that binds India and Mauritius. (Image: ION News)

NJ Global, the Mauritius-based subsidiary of Indian fund management specialist NJ India Invest Pvt. Ltd, plans to make the most of its local financial platform to allow Mauritians and foreigners to invest in India.

On Wednesday, Mauritius Minister of Technology, Communication and Innovation, Pravind Jugnauth, and the island’s Minister of Financial Services and good governance, Roshi Bhadain proceeded to the launch a new product of fund management specialist NJ Global — the NJ Global Opportunities Fund — at Le Labourdonnais Waterfront Hotel in Port Louis.

It may be noted NJ Global is an emergent wealth advisory platform for distribution of offshore funds by financial advisors across the globe.

Pravind Jugnauth congratulated NJ Global on choosing Mauritius as a sound investment platform and highlighted the deep economic relationship that binds India and Mauritius. He foresaw these ties as being beneficial to both nations in the years to come. Furthermore, he stressed that innovation and institutional support must go hand-in-hand to contribute to the socio-economic prosperity of Mauritians.
 
In his address, Minister Jugnauth said that the prevailing economic success of Mauritius and the achievement of the goal of a high-income economy with a per capita income of USD 12,000 by 2020 will be a testimonial to how innovative the country is, particularly in terms of technology adoption. For too long, innovation has been relegated to the backseat; and innovative ideas have to be fully tapped and nurtured, in particular those of our youngsters, he pointed out.

“I am confident that by 2020, we will realise our vision of making this second economic miracle happen, and move to the next stage of our socio-economic development by joining the club of high income nations,” he stressed.

According to the Minister of Financial Services, Roshi Bhadain, a large part of the global business sector is linked to India and both governments have been conducting negotiations over the double taxation avoidance agreement for nearly two years. It is now time to conclude negotiations and reach a decision. This objective can now be achieved with the new Indian government, and is in the best interests of both economies. He highlighted that Mauritius is fortunate to be chosen as a gateway to Africa by countries across the globe. The minister noted that he would hold working sessions with the Financial Services Commission, economic operators, the Board of Investment, all stakeholders and investors concerned in investment strategies.

Roshi Badhain also emphasised promoting Mauritius on the international front as a favourable investment destination, along with improved working practices encompassing new methodologies, technology and innovation within regulatory bodies in the financial services sector. This is in line with the policy to increase the ease of doing business in Mauritius without impairing the stringent regulations that uphold the island economy’s repute as a financial sector of excellence.

About NJ Global Invest:

NJ Global Invest (Ltd.) is a wholly owned subsidiary of NJ India Invest Pvt. Ltd. and is incorporated as a Global Business License 1 company under the laws of Mauritius, and it has obtained the License of an “Investment Dealer (Full Service Dealer, Excluding underwriting)” issued by Financial Services Commission (FSC), Mauritius. NJ (Global) has established an offshore fund distribution company, to provide wide range of offshore funds & offshore Portfolio Advisory services to the Global investors under B2B distribution model.

Source: ION News

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