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Visit of representatives of the African Development Bank to Mauritius

Urban Cooling Ltd (UCL) launched on Friday 21 October 2016 its offshore marine surveys, a key milestone in the implementation of the Deep Ocean Water Application project. The launching ceremony was marked by the presence of the African Development Bank (ADB) which provided a grant of USD 1 million for the conduct of this crucial exercise through the Sustainable and Energy Fund for Africa (SEFA). Chérif Seye, Sustainable Energy & Finance Advisor of SEFA and Fernando Balderrama, Senior Investment Officer, Infrastructure Finance and PPP, Private Sector Operations Department of the ADB will be present in Mauritius until 26 October 2016.

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FDI swells to the MUR 7.9-billion mark for the first semester of 2016

The latest FDI figures released by the Bank of Mauritius show that FDI inflows into Mauritius for the period January-June 2016 totalled MUR 7.96 billion, representing an increase of 69% as compared to the first semester of 2015 which amounted to MUR 4.7 billion.

Three main sectors, namely real estate, financial services and the manufacturing sector have benefited from these green field investments that directly create or expand production facilities. The largest inflows have come from developing economies, mainly from South Africa and China, contrary to previous years where a considerable proportion of FDI flowed in from developed economies.

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Mauritius launches an International Expression of Interest for Seabed Mining

The Department of Continental Shelf, Maritime Zones Administration and Exploration (CSMZAE) of the Prime Minister’s Office launched an international expression of interest (EOI) for sponsorship of application for the exploration of minerals in the international seabed areas beyond the limits of national jurisdiction. The EOI which was launched on Tuesday 18 October 2016 will close on Wednesday 18 January 2017.

Deep Sea Mining is a relatively new mineral retrieval process that takes place on the ocean floor. Few countries are engaged in such activities aiming at the exploration for future exploitation of Polymetallic nodules and Sulphides as well as Cobalt-Rich Ferromanganese. However, the high concentration of precious minerals, metals and rare earth elements on the deep sea floor is increasingly attracting interest of various countries in view of commercial exploitation.

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Launching Ceremony for Offshore Marine Surveys

Port-Louis harbour welcomed on Friday, 21st October 2016, the “Joseph Plateau” vessel from the Jan de Nul Group which will carry out detailed marine offshore surveys in the context of the Deep Ocean Water Applications (DOWA) project which is spearheaded by Urban Cooling Ltd.

The DOWA project involves the prior laying of offshore pipes on the seabed of the port area in view of extracting deep seawater. The marine surveys will provide detailed charts of the geomorphology of the seabed and describe the seawater properties which will enable ocean engineers to successfully proceed with the design and construction of the offshore pipe layout. These highly technical activities will be conducted for a period of one month, until the end of November 2016. They are financed by a grant of USD 1 million from the Sustainable Energy Fund for Africa (SEFA) of the African Development Bank.

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The Board of Investment holds an explanatory session about the Regulatory Sandbox Licence

To promote creativity and innovation through the application of technology, the Government announced the introduction of the Regulatory Sandbox Licence (RSL) in the 2016/2017 National Budget.

Pursuant to this new measure, the Board of Investment organized an explanatory session on Friday 21st October 2016, to provide information about the Regulatory Sandbox Licence.  Mr. Drishty Ramdenee, Head of Department, Ocean Economy, presented the salient features of the scheme to stakeholders comprising representatives from the Bank of Mauritius, MCCI, the Ministry of Environment, the Ministry of Health, MRC and the Ministry of Finance & Economic Development.

 

 

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Honourable Pravind K. Jugnauth, Minister of Finance & Economic Development unveils the new identity of the Mauritius Film Industry

In line with Government`s strategy to promote Mauritius as a competitive destination for film shooting and production, the Board of Investment organized a one-day strategy workshop on the Mauritian Film Industry this morning at the Holiday Inn Mon Tresor Hotel.

During his opening speech, Minister Pravind Jugnauth emphasized that the new Film Rebate Scheme has been increased from 30% to 40% as announced in the 2016/2017 national budget in order to harness the potential of the film industry.

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The Ambassador-Designate of the Federal Democratic Republic of Ethiopia on an official visit to Mauritius

His Excellency Mr. Mustafe Dek Abdisalam, the Ambassador-Designate of the Federal Democratic Republic of Ethiopia, will be on an official 4-day visit to Mauritius.

During his stay from  25th to 28th October 2016, Mr  Mustafe Dek Abdisalam will, amongst others, pay a courtesy call on the President of the Republic of Mauritius. He will have tête-à-tête meetings with various dignitaries  after the presentation of his credentials to Her Excellency Dr Ameenah Gurib-Fakim.

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A Major Boost to Marine Aquaculture: Signing of 3 additional concession agreements with Ferme Marine de Mahébourg

Three new concession agreements pertaining to the development of marine aquaculture were signed on 18th October 2016.  The signing ceremony was held in the presence of the Right Honourable Prime Minister, Sir Aneerood Jugnauth, GCSK, KCMG, QC.

This decision to give to Ferme Marine de Mahébourg (FMM) more scope for its projects is in line with government’s plan to promote aquaculture as one of the key drivers of the ocean economy. 

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