May 2014: Partnering for mutual prosperity and development
Dear Valued Investors,
In the context of globalization and regional development, one of our concerns is to know how Mauritius is faring on various indices. We monitor the country’s overall performance in order to ensure that we are in the ball game.
I am, therefore, pleased to open the May edition of our newsletter by referring to the “Africa Transformation Report: Growth with Depth” which was recently launched by African Centre for Economic Transformation (ACET).
Presenting the state of the economy of sub-Saharan African, the report emphasizes that African economies need more than growth. They need growth with depth and their performance is assessed by various criteria, namely diversified production, competitive exports on the international market, higher productivity of farms, firms and governments and the upgrading and application of technology throughout the economy. The objective is the general improvement of the quality of life and well-being in Africa.
The good news is that Mauritius is ranked first among 21 African countries in the area of export competitiveness, diversification and human well-being.
On the home front, last month’s highlight was the organisation of the 11th Summit of the Islamic Financial Services Board which was attended by some 300 delegates. Our operators in the banking sector have been challenged to avail themselves of the advantages of this financial system.
The Film Rebate Scheme has picked up momentum. The qualified production expenditure (QPE) approved during the first quarter of 2014 has reached MUR 190 million. At this pace, our target of generating MUR 500 million remains achievable. However, more importantly, local talents, SMEs and services providers are being solicited to support various projects, thereby capitalizing on the scheme.
In this issue, we have an interview of the Chief Executive of the Financial Services Commission, Ms. Clairette Ah-Hen, who reminds us the importance of good governance and the necessity to promote transparency and inspire trust in our International Financial Centre.
We are also launching a new section on “Mauritian Entrepreneurship” where we share the entrepreneurial spirit and success of Mauritian talents.
Finally, to further showcase Mauritius as a key development and growth partner for the region, BOI is organising two events. The first edition of the Mines and Money Access Africa conference will be held in Mauritius from the 23rd to the 25th of June. The maiden edition of the Mauritius Africa Partnership Conference will take place on 25th and 26th June. This conference will bring for the first time leaders of African IPAs on a common platform to reflect on how best to collaborate and promote investment.
We look forward to welcoming you at these conferences and reiterate our availability to assist you in any possible way.
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