The Prime Minister launches Mont Choisy Development and appeals to private sector for inclusive development and participation
Present at the ground-breaking ceremony for the final implementation phases of landmark project, Le Parc de Mont Choisy, on 14th August 2017, the Honourable Prime Minister, Pravind Kumar Jugnauth reaffirmed Government`s determination to transform Mauritius into a safe and well-developed country. The Prime Minister made an appeal to the private sector to work with the Government in order to boost the business environment for entrepreneurship and businesses to flourish.
During his official address, the Prime Minister commended Mr. Vincent Rogers and his team at Compagnie Sucrière de Mont Choisy for their endeavor in redefining the landscape of the North and for having successfully materialized a project of such magnitude. He also highlighted that this project has generated around 2,000 jobs, thereby creating opportunities for new development in the tourism sector. The project is being realized with the optimization of skilled workforce in all fields of construction.
Mont Choisy Property Development Ltd (Le Parc de Mont Choisy IRS) was issued an IRS Certificate in April 2015 for the development of 212 residential units (villas, apartments, townhouses and penthouses) and an impressive 18 hole-golf course. It will further enhance the visibility of Mauritius as a high-end tourist destination and enable the country to diversify its product offerings by hosting more international golf tournaments. In fact, this IRS project alone has generated investment in excess of MUR 6 billion and has the potential to contribute foreign direct investment to the tune of MUR 8.5 billion. Moreover, the promoters have devoted a substantial amount of MUR 43 million for social programmes for the people living in the region.
The Integrated Resort Scheme was introduced in 2002 to further diversify the economic base and attract High-Net worth individuals (HNWIs) to our shores, thus creating a new economic pillar.
As at date, 70 PDS project proposals/applications have been submitted. BOI has approved and is presently monitoring more than 38 of these, with an investment potential of MUR 30 billion and FDI to the tune of MUR 45 billion. The Prime Minster also emphasized that FDI inflows for 2016 increased by 46% compared to 2015. For the first 6 months of 2017, recorded FDI already exceeds MUR 10 billion.
In the pipeline there are some 180 investment projects in various sectors, namely energy, hospitality, biotechnology, financial services, smart cities, film, manufacturing, logistics and real estate. The total value amount to nearly MUR 200 billion.
To give a new impulse to investment and economic growth, several regulatory and administrative bottlenecks will be eliminated.
The Prime Minister concluded by underlining the effort of Government to usher in a new era of prosperity, stability and progress.
14 August 2017