Sunibel

The diversified economy of Mauritius

Since gaining its independence in 1968, Mauritius has went through a remarkable transformation. Previously active in the monoculture of sugarcane, today it prides itself in having a strong and diversified economy.

The island’s diversified economy comprises of:

Ocean Economy

  • GDP Contribution: 4% (exclusive of coastal tourism)
  • Maritime zone of 2.3 million km2, equivalent to the territory of Spain, Germany, Italy, France and United Kingdom combined
  • Export: USD 250 million
  • Re-Export: USD 300 million
  • Employment: 16,000
  • Investment opportunities (with fiscal incentives) in:
    • Fisheries, aquaculture and seafood processing
    • Seabed exploration for hydrocarbon and minerals
    • Ship building and ship registration
    • Marine biotechnology

 

Textile and Manufacturing

  • GDP contribution of 12.1%
  • 85% of total exports
  • Employment: 103,400
  • 810 large establishments
  • Investment opportunities in:
    • Textile & Apparel
    • Seafood Processing
    • Agro-Processing
    • Rum & Spirits
    • Jewellery
    • Pharmaceuticals and Medical devices
    • OEMs and Automotive Components
    • Technical Textiles
    • Metal Fabrication
    • Printing and Packaging
    • Paper products
    • Paints and Chemicals
    • Recycling

 

Real Estate & Hospitality

  • GDP contribution (Real Estate & Construction): 10.5%
  • FDI: 6.7%

 

Financial Services

  • GDP contribution: 13%
  • Employment: 8,635
  • Sectoral growth rate: 1.1%
  • Opportunities in:
    • Investment Banking
    • Fintech
    • Insurance
    • Capital Markets
    • Global Funds
    • Global Treasurey Activities
    • Family Offices

 

ICT-BPO industry

  • GDP contribution: 7%
  • 850 companies
  • Employment: 27,000
  • Internet penetration: 115%
  • Mobile penetration: 143%

 

Education

  • GDP contribution: 4.8%
  • Gross Tertiary Enrolment Ratio: 48.9%
  • Total employment: 29,965
  • Primary schools: 319
  • Secondary schools: 179
  • Training institutions: 464
  • Tertiary educational institutions: 51
  • Investment opportunities (with fiscal incesntives) in:
    • World-class pre-primary, primary and secondary schools
    • Technical and vocational institutes
    • Institutions/university campuses offering courses in innovative fields such as Artificial Intelligence, blockchain, robotics, Fintech, renewable energy, Ocean Economy, creative arts, high tech engineering, biotechnology, life sciences, computing, healthcare among others
    • Centres of excellence
    • Executive education
    • Sports academies

 

Healthcare

  • GDP contribution: 4.6
  • Total employment: 8500 (doctors, dentists, pharmacists, qualified nurses and midwives)
  • Investment opportunities in:
    • Specialised diabetes research and treatment centres
    • Specialised centres for elderly care & rehabilitative medicine
    • Plastic reconstructive surgery clinics
    • Clinics for dental surgery and dento-facial orthopaedics
    • Psychiatric and Mental Health Services hospital
    • Convalescence and pain clinics providing specialised care to patients suffering from acute and chronic conditions
    • Clinics specializing in sports medicine
    • Wellness centres and health resorts for rehabilitation
    • Telemedicine

 

Freeport & Logistics

  • GDP contribution (Transportation and Storage): 0.6%
  • Total trade value: USD 738 million
  • Import volume: 263,081 tons
  • Export volume: 254,236 tons
  • Freeport operators: 205
  • Freeport incesntives:
    • Duty-Free and VAT free for goods and equipment imported into Freeport zones
    • 3% tax on export of goods
    • Preferential market access
    • 100% foreign ownership
    • Free repatriation of profits
    • No foreign exchange control
    • Reduced port handling charges

 

Agro-Industry

  • GDP contribution: 3.3
  • Total Export: MUR 9.3 billion
  • Employment: 41,000
  • Investment opportunities in:
    • Technology-based farming
    • Nutraceutical: The Future of Intelligent Food
    • National Agri-food Development Programme
    • Bio-Farming

 

Lifesciences

  • +1000 trials carried out on cosmetic and pharmaceutical products
  • Number of players: 25
  • Employment: 1,275
  • Investment opportunities (with fiscal incesntives) in:
    • Pharmaceuticals
    • Clinical and Pre-clinical Research
    • Nutraceuticals
    • Biotechnology

 

Creative & film industry

  • GDP contribution: 3.5%
  • GDP: MUR 14 billion
  • Incentive: 30% cash rebate for local and foreign productions

 

Source: Economic Development Board, 2020 – www.edbmauritius.org

 
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