Transcript Slide 1
The evolving economic landscape, investment opportunities and
improved business climate of Mauritius
www.investmauritius.com
Mauritius Embassy,
Cairo, Egypt
Agenda
1.
Overview: The Mauritius Economy
2.
The Mauritius Business Environment
3.
Investment Opportunities
The Mauritius
Economy
Mauritius Attributes
Dynamic & diversified economy
Political, social and economic stability
Strong and supportive private sector
Established rules of law with the
Privy Council as the Highest Court
of Appeal
The Mauritius
Economy
Evolving Economic Landscape
INNOVATION DRIVEN
SERVICES
INDUSTRIA
L
MONOCRO
P
USD 320*
Sugar
USD 1,000
Textile
Sugar
Tourism
USD 2,500
Textile
Sugar
Tourism
Financial
Services
ICT
Freeport
USD 20k by
2020s
USD 7,500
Textile
ICT
Financial Services
Seafood
Logistics
Property Development
Healthcare & Life Sciences
Knowledge
Renewable Energy
* GDP per
capita
The Mauritius
Economy
Sectoral GDP Contribution (2010)
Public
Administration
6.1%
Education
4.4%
Healthcare
3.6%
Manufacturing
18.4%
Real Estate
12.3%
Construction
6.9%
Financial
Intermediation
10%
Retail
11.8%
Logistics
9.5%
Hospitality
7%
Agenda
1.
Overview: The Mauritius Economy
2.
The Mauritius Business Environment
3.
Investment Opportunities
The Mauritius
Business Environment
New Business Environment
Start
Up
Start a business
in 3 working days
No minimum
capital requirement
100% Foreign
ownership
Occupation
Permit
Delivered In 3
working days
Silent
agreement principle
Total issued to
date: 8654
Property
Acquisition
Facilitate
property acquisition
Ex post control
The Mauritius
Business Environment
Mauritius Fiscal Regime
Taxation
Exchange Control
Homogenised
15% corporate tax
Personal
Income
tax set at 15%
Local
government
tax
Land Acquisition
Acquisition of
property by noncitizen
Free movement of
Capital
Land transfer &
Registration Duty
at 5%
The Mauritius
Business Environment
International Benchmarks
INDEX
RANK
Index of Economic Freedom 2010
12th out of 179 countries -1st in Africa
World Bank Doing Business Survey
20th out of 183 countries -1st in Africa
Ibrahim Index of African Governance
1st out of 48 African countries
Global Competitiveness Index 2010 -
55th out of 133 countries
2011
2010
2011
The Mauritius
Business Environment
FDI Inflows (1997 – 2010)
USD millions
464.9
380.6
227
293.1
240.7
87.7
61.4
93.6
36.3
9.1
40.4
383.8
56.1
29.3 30.6
Agenda
1.
Overview: The Mauritius Economy
2.
The Mauritius Business Environment
3.
Investment Opportunities
Investment
Opportunities
From Sugar to Cane Industry
Cost reduction
through
centralisation
and clustering
process
Energy
Production via
renewable
resources
Sugar Sector
Strategic Plan
& Multi
Annual
Adaptation
Strategy
Development of
an efficient cane
industry: white &
special sugar,
ethanol
Investment
Opportunities
Evolution of
Manufacturing Sector
Nascent
Manufacturing
Vertical Integration of
the Textile Industry
Bulk Apparel
Jewellery
Manufacturing
Producer’s
Designs
(Brands)
1970s- 1980s
1990s – 2000s
Value Addition &
Diversification
Fashion
Industry
Precision
Manufacturing
Medical
Devices
2010
Investment
Opportunities
Manufacturing Sector
Actual contribution to GDP: 18.3%
FDI: In excess of MUR 1 billion - 2010
FDI Evolution for past 5 years
1,026
485
271
181
149
Investment
Opportunities
Evolution of
Seafood Industry
2010s
2010 Marine Sustainability
- Large scale aquaculture
- Offshore fishing farms
- Sustainable development
Exclusive Economic
Zone of 1.9 million km²
Support Agencies &
Infrastructure
1990s
Modern Fisheries
- Diversification of fishing
activities
- New technology
Cold Supply Chain
Readily available
2000s
Seafood Hub
1980s
Tuna canning
- Tuna fishing & canning for export
- Fish processing & storage facilities
- Fish transshipment
- Ship repair and other services
Market Access
Investment
Opportunities
Exclusive
Economic Zone
Investment
Opportunities
Property Development
Landscape
2010 Onwards
2000 Onwards
1990s
- Hotels
- Commercial
- Office
1980s
- Hotels
- Hotels
- Commercial
- Office
- IRS
- RES
- Hotels
- Commercial
- Office
- IRS
- RES
- Mixed Use
- Invest-Hotel
Investment
Opportunities
Cumulative Sales of
IRS & RES villas
USD 831
million689
Cumulative Sales - Units
700
639
608
600
544
500
USD 387 million
400
405
376 387 391
351
299
300
258
214
200
USD 82 million
98
100
20
0
49
65
133
161 177
482
426
510
566
Investment
Opportunities
Hospitality & Property Investment
USD million p.a
1157
Total Investment
1186
1198
887
632
495
554
504
391
Foreign Investment
234
196
205
275
103
7
7
17
43
Source: BOM FDI Statistics;
* BOI provisional forecasts 2010
Investment
Opportunities
Nationality of
IRS & RES buyers
Nationality – IRS Buyers
Nationality – RES
Buyers
Indian
3%
Swiss
4%
French
37%
South
African
30%
Mauritius
9%
British
20%
French
36%
British
3%
Mauritius
11%
South
African
41%
Investment
Opportunities
Future Developments
Industrial parks
Real Estate (IRS, RES, Mixed
Use)
Hotel
Knowledge
Hospitals
Investment
Opportunities
Regional Logistics Hub
Transshipment by Port of Discharge:
The most competitive port in the region: Low Port Dues and Cargo Handling Cost
New utilization rate: 57 per cent (700 000Teus)
Investment
Opportunities
Container Traffic
Total Container Traffic
YEAR
2010
1980
20, 712
2010
332, 662
Transshipment
Total Containers
Total Transshipment
Containers
YEAR
2010
1980
0
2010
109,992
CAGR of 10%
Investment
Opportunities
Freeport Performance
Volume (tons)
Cumulative Investment
(MUR Billion)
323,000
5
CAGR 18%
2.5
20,956
1.5
Investment
Opportunities
Evolution of
ICT-BPO Industry
2002
400 companies
Promulgation of DPA Act
First Certified TIER IV
Data Centre in the Indian
Ocean
148 companies
Shift towards more value
added domain , software
development activities
Break through:
Connection to SAFE
International Fibre
Optic Cable
2004
72 companies
Data Entry and
Telemarketing activities
Emergence of Mauritius as a
Disaster Recovery and
Business Continuity hub
2006
2008
258 companies
Mauritius positioned as a
Data Centre hub
2010
Investment
Opportunities
ICT/BPO Industry
Job Creation
Sources of investors
11,435
USA, Canada
& Carribean
islands
2%
South Africa &
other African
Countries
4%
6,960
10,440
3,801
5,513
Mauritius
42%
Europe
40%
15,000
Contribution to GDP (%)
6.4
With a
Mauritian
Partner
4%
Asia Pacific
6%
Indian Ocean
Islands
3%
5.3
5.4
5.3
5.5
5.7
Investment
Opportunities
Evolution of
Financial Services Sector
Launching Mauritius as
an ‘offshore’ centre
1838
Creation of first
commercial bank in
Mauritius
1992
Introduction of the single
banking license
2001/2002
New financial products &
strengthening of the
Regulatory framework
Anti Money Laundering Act
2002
2004
Moving to
Substantive,
High Value Added
Services
2007/2008
Legislations for New
Investment Products
2010
Investment
Opportunities
Your IFC for Emerging
Markets Investment
Geographical Breakdown:
Source of Investment
Africa
16%
Others
4%
Americ
a
30%
Geographical Breakdown:
Investment through GBC1
Americ Europe
a
4% Others
2%
4%
Africa
13%
Europe
24%
Asia
26%
Asia
77%
* Figures as at June 2010
Investment
Opportunities
Capital Market
Transactions
First exchange in Africa to list, trade
and settle in USD, Euro and GBP
Breakdown of Foreign Investment on
SEM
Recognised by UK’s HMRC
Total Annualised Return: approx 18%
First multi asset class exchange in this
region (Turnover > 50 Million USD)
European
Union
13%
Others
8%
South
Africa
6%
Cayman
Islands
3%
United
Kingdom
35%
Ivory
Coast
2%
Ghana
1%
Hong Kong
2%
United
States
30%
Investment
Opportunities
Emergence of Mauritius
as a Medical Hub
Contribution of Healthcare sector to GDP (2010): 3.6%
2020:
Target of 100,000
foreign patients
2011:
800 beds in private sector and 3,500 beds in
public sector
2010:
Above 10,500 foreign patients seeking
outpatient & inpatient treatment in
Mauritius
2006:
Business Facilitation Act promotes foreign
investment in medical institutions
2005:
1000 foreign patients
visited Mauritius
Emerging as a medical
travel destination with 500
beds
2010 - 2011:
Preparation of Clinical & Preclinical
Research Legislation
2007-2009: Increasing FDI in Healthcare
sector.
Major international players invest in high quality
specialty and multi-specialty centers.
Investment
Opportunities
Overview of the
Healthcare Sector
Number of Private Clinics
Treatment Areas
Dentistry
11%
Orthopaedics
12%
Chiropractors
10%
20
Fertility
8%
17
Hair Treatment
3%
ENT
1%
Others
12%
Cardiology
18%
Cosmetic And
Plastic surgery
25%
12
13
13
20
Investment
Opportunities
Evolution of foreign patients
seeking treatment in Mauritius
Source countries of foreign
patients
Medical travel: an eight-fold
increase over four years
Reunion
Island
14%
10,600
8,500
5,000
1,000
France
14%
UK
5%
South Africa
8% Comoros
3%
Rest of the
World
13%
1,500
Seychelles
15%
Madagascar
28%
Investment
Opportunities
Knowledge Sector
2012
Construction of new campuses
by the Government
2011
Setting up of Study Mauritius Office
61 higher educational institutions
2010
The Tertiary Education Commission
(TEC) regulates private post-secondary
education institutions
1976
Dedicated Ministry for Tertiary Education,
Science, Research and Technology
2005
More than 41,000 students enrolled in
Tertiary
2000
Education
Creation of the 2nd Public University: University of Technology, Mauritius
Enrolment in Tertiary Education: 17,000 students
Free Education by the Government
Investment
Opportunities
Knowledge Sector
1,000 foreign students are studying in Mauritius
Target: 100,000 students by 2020
Breakdown of Foreign Students by Region
African
10%
Asian
39%
European
9%
Regional
42%
Investment
Opportunities
New Sectors &
Opportunities
Thank You
Embassy of
Mauritius, Cairo