Navigating Global Business Dynamics
Mauritius has long been recognised as a trusted international financial centre of substance and the judgment delivered by the Delhi High Court in Tiger Global International II Holdings, et al. v/s The Authority for Advanced Ruling (Income Tax) reinforces Mauritius’ solid reputation. Upholding the validity of the Tax Residency Certificate issued by Mauritius and emphasizing that such certificates are sacrosanct, the Delhi High Court highlighted that Mauritius’ proximity to India, the numerous agreements that it had entered into with various countries, liberalised exchange controls, the favourable investment climate and the prevailing socio-political stability were all factors that favoured the choice of Mauritius for investments flowing into the Asian and African continent.
Earlier this month, the Forum on China-Africa Cooperation (FOCAC) reaffirmed the commitment by the People’s Republic of China to work closely with Africa on the path of modernisation. Indeed, the 2024 FOCAC summit held in Beijing from 4 to 6 September set a new trajectory for China-Africa relations characterised by deeper strategic partnerships through enhanced trade and investments and a commitment to support sustainable development. Key outcomes included China’s pledge of over USD 50 billion in financial support to African nations over the next three years, a focus on sustainable energy projects and development of Africa’s Electric Vehicles. These initiatives create opportunities for the Mauritian International Financial Centre to play a key role in facilitating sustainable investment across the continent.
Moreover, in line with its unwavering commitment to fostering a dynamic, resilient and competitive business environment, Mauritius is continually pursuing its efforts to improve its business environment. In collaboration with the European Union, Mauritius has undertaken a comprehensive regulatory review of four key sectors of our economy namely for Land and Construction, Tourism, Trade and Logistics and Healthcare. Last week, the EDB hosted a workshop aimed at disseminating the work completed under the first phase of the Regulatory Review project. The ultimate aim of this review is to accelerate private sector investment, stimulate growth, boost productivity and innovation and enhance our capacity to compete on an international scale.
Last week, the EDB, in partnership with Business France, also hosted a seminar on ‘Ville Durables’ (Sustainable Cities) to forge partnerships between local developers and a delegation of solution and technology providers, mostly from Réunion and Mayotte. It showcased the transformative potential of urban sustainability as a driver for job creation, affordable housing, and community resilience.
The Economic Development Board remains fully committed to continuously position Mauritius as a premier investment, trade and business hub, open doors for new opportunities for our economic operators and drive forward the business facilitation agenda.
Ken Poonoosamy
Chief Executive Officer
Economic Development Board
