The Bank of Mauritius has published the latest figures for Foreign Direct Investment (FDI) flows, revealing a promising trend for the first semester of 2024. FDI flows in Mauritius have been estimated at Rs15.9 billion for the first half of 2024 (2024H1), marking a notable increase from Rs13.5 billion during the same period in 2023. This represents a 17.8% increase in FDI inflows.
The primary sources of these investments were France and South Africa, highlighting the continued confidence of these countries in the Mauritian economy. FDI from France increased from Rs 2.8 billion to Rs 5 billion, while South Africa saw an increase from Rs 1.5 billion to Rs 2 billion.
Other significant contributions came from Switzerland, with FDI rising from Rs 293 million to Rs 1.1 billion and the USA, with Rs 633 million investment mainly in research and development within the agro-industry.
Over the past ten years, Mauritius has seen varying levels of FDI, with a general upward trend. A summary of the gross direct investment flows for the first semester of each year is as follows:
This consistent growth, despite occasional fluctuations, shows Mauritius’ resilience and attractiveness as an investment destination. With the current trajectory, Mauritius is on track to exceed the Rs 37 billion FDI figure achieved in 2023, reflecting strong investor confidence.
The second semester of 2024 is expected to see continued investment in renewable energy projects, tourism, ICT and financial services, in addition to ongoing projects. According to Stats Mauritius, private sector investment is projected to reach 21% of GDP in 2024, up from 17.8% in 2023 and 15.5% in 2021.
In addition to attracting FDI, the EDB has placed a strong emphasis on mobilising local investment. The EDB’s initiatives are to encourage the local private sector and existing entrepreneurs to expand and reinvest in new and innovative ventures, contributing to the overall economic resilience and sustainability of the economy.
The EDB has successfully facilitated and attracted substantial private sector investments, both domestic and international, across various industries. Private sector investment increased by 20.6% to reach Rs 118 billion in 2023 from Rs 90.3 billion in 2022 and is expected to reach Rs 154 billion in 2024. This would represent a 30.5% increase in private sector investment for 2024.
For more detailed information, you may refer to the Bank of Mauritius’ official report: (https://www.bom.mu/sites/default/files/di_2024h1_webrelease.pdf)
