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Development

development mauritius

The Mauritian economy is considered one of the most successful in Africa and is often cited as an example of a long-term stable economy. The Mauritius economy has developed from being reliant solely on sugar revenues (Agriculture) to a more diverse economy with five major pillars: sugar, tourism, textiles, financial services and IT.

Traditionally sugar was the main source of income for Mauritius but diversification gave rise to new pillars to create a stronger economy.

In spite of its small economic size, limited natural resources and remoteness from world markets; Mauritius has transformed itself from a poor sugar economy into one of the most successful economies in Africa in recent decades, largely through reliance on trade-led development but also its ability to negotiate tax, investment and financial agreements with Asian and African countries that established Mauritius as an financial transit hub and tax haven both in the Grey zone thus, attracting foreign companies and investors to the benefit of the country.

Technology also occupies a prominent place within the economy and is gradually positioning itself as one of the most important sources of income for the country.

origin of the word sugarEtymologically the word "Sugar" has its roots in the word "Arquera" which means "sand "in Sanskrit, one of the first known languages. This term has transformed into the word sugar in all Indo-European languages: sacquerons in Greek; in Latin, saccharin; sugar in English; in German, zucker; zucchero in Italian; in Arabic, sukkar; and azucar in Spanish. Sugarcane was first introduced to Mauritius by the Dutch and cultivated by the French and British as the tropical climate was perfect for growing sugar cane.

international agreements mauritiusMauritius has signed various international trade agreements that provide preferential access to key markets. The Common Market for Eastern and Southern Africa (COMESA) Free Trade Area (FTA) was established in October 2000 with nine African member states initially. There are now 16 member states trading on a full duty free and quota free basis consisting of the following nations: Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Kenya, Libya, Madagascar, Malawi, Mauritius, Sudan, Rwanda, Seychelles, Uganda, Zambia, Zimbabwe.

freeport mauritiusThe activities of the Mauritius Freeport have positioned Mauritius as a leading regional trading, logistics value-added and distribution hub. Due to its strategic location in the Indian Ocean, Mauritius is today host to over 27,000 global operators looking to explore the regional and international consumer markets.

economic indicators mauiritius Here are some of the factors that make Mauritius an attractive prospect for foreign investors:
GDP per capita: approx. USD 9,600 (2016)
Moody’s Investors Service: BAA1 (2017)
GDP Growth: 3.6% (2016)
Unemployment: 7.9% (2015)
Inflation: 1.2%
Repo Rate: 4%
Convenient time zone (GMT +4)
Main Languages: French and English

foreign investement mauritius Mauritius is an increasingly attractive prospect for foreign investors, with real estate and the financial services the most popular sectors. According to statistics from the Bank of Mauritius, Foreign Direct Investment (FDI) inflows into the Mauritian economy for 2016 saw an increase of 41% compared to the previous year, amounting to MUR 13.6 billion.
There are also signs of an increase in FDI from developing countries, with MUR 6.46 billion invested in 2016 as compared to MUR 3.34 billion in 2015. France remains the leading source of FDI in Mauritius with a contribution of MUR 4.5 billion in 2016. The other main sources of FDI are from China and South Africa.
France remains the leading source of FDI in Mauritius with a contribution of MUR 4.5 billion in 2016. The other main sources of FDI are from China and South Africa.