Mauritius has continued to improve an economic environment already conducive to dynamic entrepreneurial activity. Despite its overall underdevelopment, the island's institutional advantages are noticeable. A transparent and well-defined investment code and legal system have made the foreign investment climate in Mauritius one of the best in the region. Taxation has become more competitive and efficient owing to the accelerated implementation of flat 15 percent personal and corporate income tax rates in 2007. The financial sector has gradually improved in efficiency and competitiveness.
Mauritius's economic freedom score is 74.3, making its economy the 18th freest in the 2009 Index. Its overall score is 1.7 points better than last year, mainly because of improvements in investment freedom and financial freedom. Mauritius is ranked 1st out of 46 countries in the Sub-Saharan African region, and its overall score is well above the world and regional averages.
Although state monopolies exist, Mauritius has improved its management of public spending. The judiciary, independent of politics and relatively free of corruption, is able to protect property rights well.
Some of the unique elements that make Mauritius an attractive and competitive investment location include:
- Political, economic and social stability
- Pro-business environment, with the government acting as the facilitator and providing professional and personalized service to the investor community
- A dynamic private sector very receptive to foreign investment and open for joint venture collaborations
- Preferential market access to the European Union (EU) (under Cotonou Agreement), US (under the Africa Growth and Opportunity Act – AGOA) and Africa (under COMESA and SADC)
- High level of protection to investors through a wide network of Double Taxation Avoidance Treaties and Investment Promotion & Protection Agreements. Mauritius is also a signatory member to a number of international, regional and bilateral conventions & agreements
- Close historical, economic and cultural ties with countries on the competitive edge of technology and information society (India, China, Europe, Africa and North America)
- Attractive package of fiscal & non-fiscal incentives and high level facilitation services
- Ease of doing business for incorporation or registration of a company. One shareholder company, with no minimum capital requirement, is permissible. 100% foreign ownership is also allowed
- Young, dynamic and competitive workforce with first-world qualifications, skill and experience
- State-of-the-art infrastructure and reliable support services – airport & port logistic facilities, telecommunications, banking & finance, business park, industrial facilities and office premises
- Good governance in investment promotion with regard to predictability and the transparency of government laws, regulations and procedures, and accountability of institutions dealing with investors.
Last Updated on: 19-04-2010