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26 Apr 2024 • Development

FDI totals Rs37 Billion in 2023

The Bank of Mauritius has published preliminary estimates for Foreign Direct Investment (FDI) for the year 2023, on 26 April 2024, of an amount of Rs 37,011 million.

This indicates a Y-o-Y increase from 2022 of 11% and the total of Rs 37 billion represents a new all-time high.

This is a quite remarkable achievement, with the cumulative FDI totals of 2022 and 2023 exceeding Rs 70 billion. As noteworthy, is the successive overtaking of two symbolic milestones, Rs 30 billion and Rs 35 billion respectively, in two consecutive years.

It is to be noted that the 2023 figure will be further re-adjusted after the bank of Mauritius has carried out the Foreign Assets and Liabilities Survey (FALS) to capture retained earnings. The estimates for 2022 was re-adjusted by some Rs 6 billion after the previous FALS exercise, which brought the total to Rs 33.4 billion.

Four sectors underpin this remarkable performance of 2023, representing 84% of the total: – agro-industry, hospitality, real estate and ICT.

While real estate has been a staple contributor over the past years, the strong performance from the hospitality, ICT and Agro-industry sectors is testament to Government’s efforts in strengthening and diversifying our economic pillars, and success of EDB’s strategy to attract foreign talents and capitals into Mauritius in various industries.

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