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MAURITIUS

The Emerging Economic Model of Mauritius Mr. Raj Makoond Director, Joint Economic Council . MAURITIUS. Track Record – Sustained Growth. Average GDP Growth (1970-2005) 5.2% Average Per Capita GDP Growth (1970-2005) 4%. THE NEW ECONOMIC CONTEXT. Globalisation Loss of preferences

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MAURITIUS

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  1. The Emerging Economic Model of Mauritius Mr. Raj Makoond Director, Joint Economic Council MAURITIUS

  2. Track Record – Sustained Growth Average GDP Growth (1970-2005) 5.2% Average Per Capita GDP Growth (1970-2005) 4%

  3. THE NEW ECONOMIC CONTEXT • Globalisation • Loss of preferences • Economic diversification strategy

  4. ECONOMIC INDICATORS 2005 % • GDP 3.1 • Investment rate 21 • Unemployment 9.5

  5. THE NEW CHALLENGES • Implementing reforms • Corporate re-engineering • Moving form sectors to clusters • Becoming a regional player

  6. IMPLEMENTING REFORMS • INTEGRATION • - Corporate Tax • - Value Added Tax • - Customs Duty • - Rationalisation of incentive regimes

  7. IMPLEMENTING REFORMS • -Financial Services Development Act 2001 • -Companies Act 2001 • -Telecommunications Act 2001 • - Education Act 2005 • - Public Utilities Bill • - Investment Climate Assessment • - White Paper on Labour Laws

  8. MAURITIUS From Sectors to Clusters Cluster formation: painful process Global Competitiveness Report 2003/2004 Mauritius Finland • Decentralisation of corporate activity 90 7 • State of cluster development 31 1 • Collaboration among clusters 48 1

  9. BUILDING ON EXISTING STRENGTHS • Sugar Cane Cluster • Textile & Fashion Cluster • Hospitality Cluster

  10. EMERGING NEW CLUSTERS • Knowledge Cluster -Consultancy -Training -ICT, language and film industries • Seafood Cluster • Logistics and Services Cluster • Environment Cluster • Health Cluster

  11. REGIONAL PLAYER Mauritius • Sugar • Textile • Tourism • Consultancy Services • Banking Label “Made by Mauritius” will replace the “Made in Mauritius”label

  12. Economic Trajectory TEXTILE SUGAR TOURISM FINANCIAL SERV. ICT / BPO REAL ESTATE SEAFOOD/ AQUACULTURE KNOWLEDGE HEALTH ENERGY 2000 TEXTILE SUGAR TOURISM FINANCIAL SERVICES FREEPORT 1990 TEXTILE SUGAR TOURISM 1980 1970 SUGAR Manufacturing & Services Economy Monocrop Economy Manufacturing & Tourism Business Platform

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