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AfricaMoney | September 22, 2017

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MCCI greets favourable budget boosting public & private investment in Mauritius

MCCI greets favourable budget boosting public & private investment in Mauritius

The Mauritius Chamber of Commerce and Industry (MCCI) welcomed ‘pro-investment’ initiatives such as the SMART cities; extension of the Port; improvement of roads; and fiscal incentives to encourage investment for Small and Medium Enterprises (SMEs). (Image: MCCI)

The 166th annual general assembly of the Mauritius Chamber of Commerce and Industry (MCCI) was held at The Labourdonnais hotel in Port Louis last Thursday. On this occasion, numerous distinguished personalities from the private and public sector were present to discuss the relevant points from Budget 2015.

The newly elected President of the MCCI for 2015, Hélène Echevin, COO — Project & Process Optimisation — at the Food and Allied Group, commented on the common objectives of the private sector.

“The wish of the MCCI is to continue to cooperate with the private and public sectors, to reach common goals,” she noted.

Outgoing MCCI President Sébastien Mamet, for his part, commented on and made an assessment of the 2014 economic situation and Budget 2015 by noting the weakness of the growth rates, which have not exceeded 5% for the last five years.

“The weak growth rate is the result of an under-performing investment rate and we should not try to compare Mauritius with other countries, as we do not have the same economic structure,” he added.

He also stressed upon the fact that growth rates across all major economic indicators for investment, growth and trade balance have been either negative or insufficient.
However, he also expressed his bullishness on some measures taken for Budget 2015, stating that the MCCI welcomes ‘pro-investment’ initiatives such as the SMART cities; extension of the Port; improvement of roads; and fiscal incentives to encourage investment for Small and Medium Enterprises (SMEs).

The private sector also welcomes engagement from the government to facilitate business affairs, particularly on reduction in the number of required licenses and the injection of Rs 120 billion for private and foreign investment, he concluded.

As for the Minister of Trade and Industry, Ashit Gungah, he noted that the government is determined to be a facilitator for private sector businesses.

“The economy is at a cross-roads and a choice is imperative between either continuing with ‘business as usual’ or taking brave decisions to transform the economy. For me, whether it is the public sector or the private sector, we must be capable of working together to chart out the future of our country — and the vision of our government is to reach a 5.7 % growth rate for the state economy,” declared the Minister.

In addition, he explained that the government wishes to give a new boost to the manufacturing sector through budgetary and fiscal incentives.

“We have to favour diversification away from traditional markets into newer ones including regional economies. We must provide assistance to companies to penetrate new and emerging markets. The National Export Strategy will be an instrumental catalyst by which, in a competitive landscape, we will be able to meet the expectations of Mauritian exporters,” he concluded.

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