Signing of an MOU between BOI and CCIFM
The Chamber of Commerce and Industry France-Mauritius (CCIFM) organized a forum-debate on 31st May 2017 on key issues in the wake of Brexit and the election of President Trump and their impact on the Mauritian economy and the African region.
In this context, the Board of Investment (BOI) and the CCIFM signed a Memorandum of Understanding to establish a practical framework for the exchange of information on development and investment, research and the conduct of joint investment promotion missions. The agreement also aims at identifying the problems faced by French investors with a view to proposing prompt solutions.
Moreover, this protocol intends to reassure French investors to use Mauritius as an investment platform for the region. Today, France is our most important economic partner. Foreign direct investment inflows from France amounted to MUR 4.5 billion in 2016. France is also our second largest export market, accounting for 13.8% of Mauritian exports.
In addition, France is our largest tourism market with more than 270,000 visitors in 2016. In 1973, Mauritius and France signed an investment promotion and protection agreement (IPPA), followed by a double taxation avoidance agreement (DTAA) in 1980.
Over the years, BOI has worked closely with the CCIFM and this MOU will further consolidate institutional relations to promote trade and investment. French investors are showing a growing interest in the ICT sector, in biotechnology, and in promising activities like research and clinical trials, as well as in emerging sectors, for instance the ocean economy.
The forum-debate on BREXIT-TRUMP was led by Mr. Paul Baker, CEO of International Economics Consulting Ltd and Mr. Maurice Vigier de Latour, a Mauritian businessman. Attendance comprised some 50 Mauritian and French business leaders established in Mauritius.
The Board of Investment is a member of the private-public technical committee on Brexit. This committee is working on various strategies to address the potential impact of Brexit on Mauritius. This new BOI-CCIFM initiative will further enhance the visibility of Mauritius among the French business community and position the country as the regional business platform, especially for French-speaking Africa.
01 June 2017