The Mauritian Economy
Facts & figures
Mauritius is the fastest growing financial centre in Africa and the third fastest growing in the world, according to researchers from New World Wealth (NWW). It is one of the African countries with the highest per capita income.
The country has been able to sustain a strong growth-oriented developmental path from the monoculture of sugarcane to tourism, business process outsourcing, and financial services.
Mauritius has strong and friendly relations with countries around the globe. It is a member of multiple organisations, namely
· the World Trade Organization (WTO),
· the Commonwealth of Nations,
· the African Union,
· the Southern Africa Development Community (SADC),
· the Indian Ocean Commission, · the Common Market for Eastern and Southern Africa (COMESA), and
· the recently formed Indian Ocean Rim Association.
Mauritius as a hub
Modern infrastructure facilitating business operations
In line with the goals of its Vision 2030, the Government has approved an investment of more than Rs 100 billion in infrastructure. The Mauritian government plans to continue on modernising the country and validated projects by local and international private investors.
It is forecasted that the projects would generate more than 10,000 direct jobs and half of the investments will be dedicated to Smart Cities, as well as real estate and hotel projects.
Riche Terre Business and Industrial Park
Riche Terre Business and Industrial Park accommodated around 40 projects from 2018 to 2020. These projects include manufacturing, logistics parks and warehousing activities.
The area is being developed and made suitable for port logistics and light industries by increasing the availability of land in Riche Terre and its surroundings for rental by local and foreign manufacturing companies. All part of the Port Development Strategy.
Some Smart Cities projects
JinFei project- A Luxurious and sustainable community to live, work and play
Mauritius JinFei has engaged in several development projects on 175 acres of land at Riche Terre. Eden Garden Culture and Entertainment Square, as well as conference facilities, have been completed. The development of a five-star hotel-apartment complex including restaurants, function rooms, wellness centres and cinemas, among other facilities, are about to start. In the Smart City, more projects, logistics and warehousing, are in the process of being developed. A future investment of Rs 650 million and the creation of 300 jobs are projected for this initiative.
Moka Smart City – an integrated urban development
The PWC office building at Moka Smart City is under completion. Infrastructure works and the development of 61 homes are underway, while 34 commercial and residential projects requiring investments of Rs 500 million. The Economic Development Board (EDB) approved the development of 15 other mixed development projects within the Moka Smart City, with investments of Rs 3 billion.
Other smart cities project worth looking into:
· UNICITI (Médine Ltd) – Spotlight on the West Coast of Mauritius
· Mon Trésor Smart City – redesigning the future of Mauritius Business Portal