Mauritius Enhances Captive Insurance Framework to Strengthen the Mauritius International Financial Centre
12 Sep 2024
Mauritius welcomes investment and embraces business. Globally recognised as a safe, stable and easy environment to conduct business, Mauritius is a great place to invest, work, live and retire, with future ready infrastructure, global connectivity and world class talent.
Invest in a project of at least Rs 500 million and take advantage of incentives, rebates, exemptions and preferential rates.
Leverage on our unparallel preferential market access to 68% of the world’s population and benefits from a panoply of Free Trade Agreements.
Mauritius’ residence program allows foreign nationals to make a real estate investment into the country and apply for a residence permit to live, work, and retire in Mauritius.
Live and work remotely from Mauritius and experience a long stay or retire in a picture-perfect tropical paradise.
Leverage on our unparallel preferential market access to 68% of the world’s population and benefits from a panoply of Free Trade Agreements.
Agriculture has played a major role in the national economy for decades. Although it is no longer the largest contributor to national production and wealth generation, the sector still contributes significantly to GDP (3.9%), export earnings, forex earnings and employment. Over the years, the sector has evolved substantially; for instance, the sugar industry has graduated into the cane industry with includes production of refined and special sugars, alcohol & rum; while high value-added horticulture, fruits and vegetables and a multitude of processed foods are now produced locally.
The challenge in the post-covid era is to achieve self-sufficiency and food security. Several measures have been introduced to encourage import substitution, food processing, technology-based farming, and production of high-end products such as nutraceuticals.
Government’s strategy aims at modernising the sector through the adoption of new technologies; enhancement of food quality and safety; adoption of good agricultural practices and green agriculture concepts; and promotion of value addition. Business opportunities to integrate new agricultural technologies to boost the sector’s efficiency and increase land productivity are available.
The Mauritius Agricultural Landscape
Crops | 2022 | |
---|---|---|
Area harvested (hectares) | Production (tonnes) | |
Sugar cane | 39,199 | 2,256,806 |
Tea (green leaves) | 659 | 6,351 |
Food crops | 7,770 | 115,211 |
Mauritius is highly dependent on food imports. Besides, the country is subject to natural calamities which can affect crop yields. The use of modern farming techniques will help mitigate the impact of such risks and contribute to reducing our dependency on imports. The adoption of techniques such as greenhouses, hydroponics, aquaponics, and vertical farming can be considered.
The rising concerns of consumers on the negative impact of agrochemicals has led to an increase in demand for safe fruits and vegetables. In line with the Government’s policy for bio-food production, farmers are encouraged to eliminate the use of synthetic agrochemicals and shift to environmentally friendly productions.
To foster the development of the nutraceutical sector, the Mauritian Government has initiated the development of a framework to chart the way for the private sector to engage into large-scale production of nutraceuticals and functional foods.
View PDF: Development of a Nutraceutical Framework and Industry in Mauritius
In a bid to guide existing and aspiring operators in the nutraceutical arena, the EDB has developed a user-friendly database which boasts optimized information on more than hundred plants with nutraceutical potential. The database can be consulted at: http://app-edb-nutra.azurewebsites.net/
Government has introduced several incentives to encourage investment in the nutraceutical sector and establish the proper ecosystem for transformation of crops with high nutraceutical potential into value-added products.
Food processing presents opportunities to minimise post-harvest losses; increase shelf life of farm produce; and reduce imports. Numerous investment opportunities exist for the transformation of agricultural products and livestock into products for intermediate or final consumption.
Agricultural Biotechnology is gaining momentum globally especially with the degradation of our environment as a result of climate change. These circumstances provide impetus for the application of biotechnology to food and food crops in the future. While it is still at infancy stage in Mauritius, Agricultural Biotechnology has brought a positive impact in many countries. Prospects in Mauritius are enormous.
Through a panoply of schemes and unique incentives offered, EDB Mauritius supports the expansion and growth of business operations as a way to enhance substantive and value-added economic activities in Mauritius.
Julie de Chasteauneuf, Communication and Marketing Officer
Indika Pharma Ltd
Setting up in Mauritius means joining a long list of world-class businesses that have chosen our country as their regional base of operations. These exceptional businesses include: