Over the past two decades, real output
growth averaged just below 6% per year, leading to a more
than doubling of per capita income and a marked improvement
in social indicators. However, since 2002, the economy started
to face some serious challenges as a result of globalization,
involving the erosion of trade preferences for both textiles
and sugar, two pillars of the economy. Economic growth declined
to 3-4% while unemployment, government budget deficit, and
public debt increased steadily.
The government that took office in July 2005 embarked on a
bold economic reform program aimed at moving Mauritius from
reliance on trade preferences to global competitiveness. The
reform strategy, outlined in the FY 2006-2007 government budget,
was designed not only to remedy fiscal weaknesses but also
to open up the economy, facilitate business, improve the investment
climate, and mobilize foreign direct investment and expertise.
The reforms and the opening up of the economy have already
started to positively impact the economy. GDP growth increased
to 5% in 2006, and the same rate is expected in 2007.
In addition to encouraging the restructuring and modernization
of the textile and sugar sectors, the government is putting
much emphasis on the development of the ICT sector and the
promotion of Mauritius as a seafood hub in the region, using
existing logistics and distribution facilities at the Freeport
(free trade zone at the port and airport). To further diversify
the economic base and generate sustainable growth, the government
is actively encouraging the following economic activities:
(i) the land-based oceanic industry, (ii) hospitality and
property development, (iii) healthcare and biomedical industry,
(iv) agro-processing and biotechnology, and (v) the knowledge
industry.
The business climate is friendly yet extremely competitive.
The World Bank 2007 Doing Business Survey ranks Mauritius
32nd in the world and second in Africa for ease of doing business.
Mauritius has a long tradition of private entrepreneurship,
which has led to a strong and dynamic private sector. Firms
entering the market will find a well-developed legal and commercial
infrastructure. With regard to telecommunications, Mauritius
has a well-developed digital infrastructure and offers state-of-the-art
telecommunications facilities including international leased
lines and high speed Internet access. Telecommunications services
were liberalized in January 2003. The government policy is
to act as a facilitator to business, leaving production to
the private sector. However, it still controls key utility
services directly or through parastatals, including electricity,
water, waste water, postal services, and broadcasting. The
State Trading Corporation controls imports of rice, flour,
petroleum products, and cement.
Our Partner in Mauritius is Mr. Jack Bismohun and our training
facility address is :
Cyber IT Training Services Ltd
Mahatma Gandhi Avenue (MGI Complex)
Bon Air
Moka
Rep. of Mauritius
Tel : +230 433 2500
Fax : + 230 433 2625
