Message from Honorable Dr. Renganaden Padayachy
Message of Dr. The Honorable Renganaden Padayachy,
Minister of Finance, Economic Planning and Development
As we start a new chapter, that of 2021, it is with sights set on a future made up of opportunities that need to be consolidated and others to be created, that I invite investors and economic operators to consider this new year.
Before turning to the future, I would like to express my gratitude to all those who have maintained their investments in Mauritius over the past year. Revealing of the country’s ability to adapt and reinvent itself, I see in this continued commitment a strong testimony that investor confidence in the Mauritian economy is well and truly present.
While 2020 has been marked by disruptions in many ways, the year has nevertheless allowed Mauritius to demonstrate its resilience once again in the face of adversity. A result of shared efforts and successful protocols, Mauritius has set itself up as an exemplar in the management of the pandemic. To-date, the country is one of the few in the world to be recognised as a “Covid-safe” destination, that is, where the virus does not circulate in the local community.
Moreover, it is this unprecedented situation enjoyed by the country, backed by the launch of vaccination campaigns around the world, which allows us to enter the year 2021 with the hope of a gradual and positive economic recovery. International organisations and agencies, like the International Monetary Fund (IMF) or Moody’s, are also expecting sustained growth for Mauritius in 2021. The information and communication technology (ICT) sectors, high value-added manufacturing such as pharmaceuticals, or even financial services, are in fact following suit.
Of course, if the recovery at the local level is intrinsically linked to the evolution of the international situation, the fact remains that the Government of Mauritius has spared no effort to maintain our rank as the leading African country in terms of business environment while preserving the livelihoods of the Mauritian population.
In fact, despite the economic situation, the Economic Development Board (EDB) has been facilitating a total of 201 projects currently under implementation, for an amount of 238.3 billion rupees, including local and foreign direct investments.
Mauritius is also rethinking its tourism sector by coupling it to a medium-term residency strategy. The implementation of the Premium Visa in November 2020, allowing foreigners to easily settle in Mauritius for a period of one year – whether they are digital nomads, investors or even retirees – contributes to this adaptive and innovative openness strategy.
Being able to reside and work in Mauritius in an idyllic and safe setting; this is the value proposition that we are proud to be able to promote.
Mauritius, a land of investment opportunities where it is good to live, has so much to offer. The Government of Mauritius is committed, more so in the current context, to making the arrival of foreign investors in Mauritius an easy and hassle-free process and I can only encourage all those who have the ambition to make it happen.