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17 Jan 2023 • Business Facilitation

PM facilitates investment of value of MUR 31 billion

This Tuesday 17th January, a High-level Committee chaired by the honourable Prime Minister, Mr Pravind Kumar Jugnauth, reviewed 33 private investment projects having an investment value of MUR 31 billion for facilitation of permits and licences and other bottlenecks to their implementation. The projects were examined in the presence of several Ministers as well as representatives from relevant ministries and that of the Economic Development Board (EDB).

These private sector-led projects will be implemented over the next three years and will add to the existing pipeline of projects that are already under construction or implementation. The projects are related to several economic activities such as manufacturing, tourism, real estate, ocean economy and healthcare amongst others.

The development of private clinics as well as that of senior living retirement project were among the projects facilitated. This falls in line with EDB’s strategy to promote Mauritius as a wellness and medical tourism hub as well as a destination for foreign retirees.

For Mr Ken Poonoosamy, CEO of EDB, it is clear that the various projects which were examined today in the committee and which are closely monitored by the organisation, will further contribute to the momentum generated by the recovery in 2022 of the Mauritian Economy where (i) Total investment grew by more than 6 %, (ii) Private sector investment grew by 7.9%, (iii) Total investment exceeded MUR 110 billion, (iv) the Private sector investment reached MUR 88 billion and (v) FDI is expected to reach the MUR 25 billion mark.

He added that local operators are taking full advantage of the opportunities under the recently signed agreements with China, India and several African countries. The CEO of EDB highlighted that there was a strong rise in exports of goods and services which reached MUR 314 billion in 2022, where Exports of goods amounted to MUR 100 billion and Export of services reached MUR 214 billion. This represents an increase of 49% compared to 2021 (MUR 211 billion).

Mr Poonoosamy expressed confidence that the new projects will help boost growth, investment and create jobs. He further added that it also demonstrates the confidence of the private sector to continue to reinvest in the economy as well as confirming that foreign investors still see Mauritius as a prime destination for investment.

Photo courtesy : GIS

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