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Visit of a high-powered delegation from Zhejiang

A delegation from the Zhejiang Communications Department and the Zhejiang Provincial Institute of Communications, Planning, Design & Research was on a prospective mission to Mauritius.  They met with the Board of Investment on 11th November.

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The Film Rebate Scheme attracts a big budget film

Tera Intezaar is a Bollywood movie produced by PZM Films Company Ltd under the Film Rebate Scheme. The producer, Bijalkumar Mehta, has scheduled shooting in excess of 12 days in attractive locations around the island. Some 30 percent of the photography and scenery of the whole movie will be shot in Mauritius. Tera Intezaar is a 100-mllion-rupee budget movie, some Rs 30 million of which will spent in Mauritius.

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Minister of Finance and Economic Development leads delegation to Beijing for the Joint Economic Commission

The Minister of Finance and Economic Development, Honorable Pravind Kumar Jugnauth, is leading an official delegation comprising captains of the industry and leading representatives of the private sector to Beijing, from 1st to 4th November 2016 in the context of the 10th Sino-Mauritius Joint Economic Commission. The Honorable Minister will hold discussions with the Ministry of Commerce of the People's Republic of China with a view to consolidating trade relations between the two countries, while extending collaboration in various sectors of business.

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Property Development Scheme: Amendments

Further to the announcement made in the 2016/2017 Budget Speech, the Investment Promotion (Property Development Scheme) Regulations 2015 have been amended as follows:

 (i) the maximum size limit of 50 arpents has been removed

(ii) the requirement to sell at least 25 percent of residential units to Mauritian buyers has been removed

(iii) the current maximum permissible land size for a villa has been reviewed from half an arpent (approx. 2110 m2) to 1.25 arpent (approx. 5276 m2).

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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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