Blue Economy

The rich marine natural resources of the Mauritian waters provide great potential for fisheries. The country has ambitious plans to expand its fisheries sector to meet the growing exports demand. Continuous efforts are being implemented by the Government through strategic policy actions to support the sustainable growth of the sector. The fisheries sector provides enormous potential to support the fish and seafood processing enterprises.

• Fishing quota rights and licenses are regulated to protect the resource base, effectively to harvest the resource.
• Multitude efforts on monitoring, control, and surveillance made at the national level to combat illegal, unreported, and unregulated (IUU) and ensure compliance of fishing vessels to provide reliable reports.
• Multiple free trade agreements with key countries are likely to ensure that those operating in the local market enjoy global access.
• Our proximity and access to the growing African, Asian and European markets, strategic policy actions and access to the natural resources provide a competitive advantage to prospective investors in new and existing projects.

Mauritius is strategically positioned on the South-South trade corridor which represents an annual USD 3.75 trillion in maritime trade. With some 30,000 vessels passing the country’s maritime zone annually, the bunker segment has experienced a sustained average growth of 13% per annum since 2004 to reach some 660,000 M, representing a market estimated at some USD 250M per annum. However, this volume represents roughly 13% of the current regional demand, estimated at 5,000,000 metric tonnes. Government target to increase bunker sales at Port-Louis to 1,000,000 MT by 2025 and 1,500,000 by 2027.

The rapid growth of the bunkering sector is attributed to the gradual liberalization of bunker trade in Mauritius. Moreover, in a bid to achieve the set target, a series of incentives have been established ranging from discounts of port charges to tax benefits. In its quest to positioning itself on the charter of international bunker traders and shipping lines, Mauritius has adopted best international practices in terms of environmental and operational standards as well as product quality assurance monitoring.

There are currently seven licensed operators engaged in bunker operations at Port-Louis, delivering different types of marine fuels both by pipeline at quay and by bunker barges.

Opportunities:

• Bunker trade by pipeline with onshore storage
• Bunker trade by exclusively by barge
• Bunker trade by barge supported with onshore storage
• Paper bunker trading servicing clients calling at Mauritius
• Paper bunker trading servicing international clients not calling to Mauritius

Mauritius offers several competitive advantages to demarcate itself as a competitive bunkering destination, which includes the following:

• Exemption from excise duty and VAT on bunker fuel including for bunker barges operating within Ports-Limits
• Corporate tax exemption from bunker trade in IFO 380
• Exemption from environmental levy
• Discounted prices on port charges (port dues & anchorage fees) by the MPA.

Mauritius stable economic and political environment has earned it a place as one of the most respected and compliant registries in the world. The conducive business environment supported by a pool of bilingual professionals, and a solid technological backbone are core attributes for high- end marine based service delivery in Mauritius. In addition to being strategically located for all vessels crossing the Indian Ocean, Mauritius is also a member of major international maritime conventions.

The following advantages offered by Mauritius explain its fast evolution as an emerging hub for ship registry and ancillary services:

• Political stability & neutral flag
• Law firms and licensed management companies to assist in ship registration and its corporate management
• No labour restriction on employment of foreign seafarers
• Seafarers are not taxed on their personal income
• Dry dock yards to provide ship maintenance
• Vessels are exempted from tax freight earnings
• No withholding tax on dividends paid from a Mauritius Shipping Company
• Customs and excise duties exemption on ship’s stores, consumables and spare parts
• No capital gains tax is payable upon the sale or transfer of a ship or of the shares in a shipping company
• No estate duty is payable on the inheritance of shares in a shipping company.

Mauritius is an enticing destination for resource exploration and exploration. The vast hydrocarbon reserves off the coast of East Africa and Madagascar proves significant prospects for hydrocarbons in the Exclusive Economic Zone of Mauritius. Additionally, the recent discovery of inactive hydrothermal fields reported by the joint Mauritian and Japanese expedition within our EEZ provide important insights into the biodiversity and biogeography of vent-endemic ecosystems in the Indian Ocean and the like hood of mineral deposits. The previously discovered fields of polymetallic nodules and mineral ore in ocean basins close to our maritime zone presents potential targets for deep-sea mining to support the increase and welfare of the human population.

The introduction of the Offshore petroleum actl paves the way for a conducive business environment for exploration, exploitation and production of oil in the Exclusive Economic Zone (EEZ) of Mauritius.

Mauritius has significant potential for Oil and Gas Support Services Sector. The hydrocarbon discoveries along the East Coast of Africa and off Madagascar position Mauritius as an ideal platform to service the oil and gas industry. The country competitive position is underpinned by a strong economy, increased regional connectivity, supportive government policies, trade links with key markets, existing Regional Headquarters Scheme coupled with other offerings of the Mauritius IFC as well as existing schemes for export-oriented enterprises provide for substantial benefits for companies operating in the sector. There is scope for growth for companies to invest in Oil and Gas Support Services, new oil and gas discoveries and in underexplored frontier basins.

Deep Ocean Water Application is distinguished by cold, nutrient-rich and pathogen-free seawater found at depth of the ocean. It has attracted particular interest as a renewable resource for energy and marine primary production, and also been dedicated as the useful material for Sea Water Air Conditioning, Green Data Centres, High-end Aquaculture, Pharmaceuticals, and Thalassotherapy amongst others.

Mauritius favors a private sector engagement for this nascent industry by providing for fiscal incentive, a resilient and low risk environment to invest and do business. Currently, one project is under way in the Port-Louis region and, upon completion of its first phase, it will provide green cooling to several public and private buildings in the city center. With the abundant of ocean resources, Mauritius offers a broad range of investment opportunities in this field.