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26 Jan 2024 • Financial Services • Conference

Mauritius IFC Soars in Hong Kong: A Spotlight on Economic Collaboration and Sustainable Growth

In view of diversifying into new emerging markets to promote the Mauritius International Financial Centre (IFC), the Economic Development Board of Mauritius (EDB) conducted a promotional mission to Hong Kong on the 24th and 25th January. The mission was led by the Honourable Mahen Kumar Seeruttun, Minister of Financial Services and Good Governance.

This promotional campaign was centered around the Asian Financial Forum (AFF), organised by the Hong-Kong Financial Services Development Council (FSDC), a member of the World Alliance of International Financial Centres (WAIFC), to which the EDB is also party. Private sector companies from Mauritius including banks and Management Companies with an interest in the Asian market also joined this significant event.

MIFC Hong kong

The 2024 Asian Financial Forum was attended by more than 3,000 high-profile financiers and investors, international policymakers and business leaders, technology innovators and entrepreneurs, representatives of central banks and other professionals from over 40 countries. The theme for this year was ‘Multilateral Cooperation for a Shared tomorrow’. Hong Kong Chief Executive, John Lee addressed the opening sessions. Over 15 Ministers from across all continents attended the AFF.

Professor Jeffrey D. Sachs, President, UN Sustainable Development Solutions Network shared his insights on how responsible capitalism is shaping the new normal along the sustainable roadmap. He also highlighted in his intervention on the progress Mauritius has achieved in promoting SDG goals.

EDB Business Forum

The EDB organised a business forum themed ‘Mauritius: Your Partner of Choice for Africa’. Over 80 professionals mostly from the financial services industry attended this forum, consisting predominantly of funds managers, fintech companies, High Net-worth individuals and other businessmen interested to learn about Investment opportunities in Mauritius/Africa and financial structures that could be of interest.

The Honourable Minister delivered a keynote address, elaborating on the economic linkages between Mauritius and Hong-Kong, and highlighted the contribution of Hong-Kong investors in sowing the seeds of the textile industry of Mauritius. He further explained the history of the Mauritius IFC, and how the Mauritius IFC is gearing up for new opportunities in fintech, new fund structures, capital markets and ESG framework.

The Forum was organised in collaboration with the Commonwealth Chamber of Commerce of Hong-Kong. In his keynote address, the Secretary General, Mr. Andrew Wells highlighted the warmth relationship between Mauritius and Hong-Kong. Mr. Wells also announced a delegation visit to Mauritius, as part of its mision to explore opportunities in African countries. The Second Generation of Entrepreneur Association, which regroups future business leaders in Hong Kong also collaborated for this Forum. Ms. Francesca Lee, highlighted business opportunities in the emerging markets of Africa.

Mr. Vinay Guddye, Director of Financial Services at the EDB delivered a presentation on the financial landscape of the Mauritius IFC. Private sector operators also had the opportunity to present their offerings to the Hong Kong Business Community. The Forum ended with a networking session to enable further business interactions and exchanges.

About Hong Kong

Hong Kong is one of the leading International Financial Centres and is the world’s largest offshore Renminbi liquidity pool outside Mainland China. Over 70% of the world’s RMB payments are settled through Hong Kong. Hong Kong is also home to more than 12,500 ultra-high-net-worth individuals.

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