Mauritius has been remarkably successful in achieving rapid growth and substantial diversification of a formerly mono-agricultural economy. Real output growth over the past two decades has averaged just below 6 percent per year, leading to an impressive rise in per capita income, a marked improvement in social indicators, and a narrowing in income disparities.
Mauritius has launched a strategic plan for its industry, covering the period 2010 to 2013 and aimed at improving competition among manufacturing companies belonging to Small and Medium-Sized Businesses (SMBs). The government wants to reinforce the SMBs, diversify them by adding value and propelled by science, technology and innovation.
In addition to an innovative approach for the promotion of direct foreign investments in order to accelerate the diversification of the Mauritian industrial base, the government aims, at the promotion of exports by developing closer links and pacts with importers, the exploitation of niche markets and regional markets.
The government focus is to promote a sustainable industrial development so as to satisfy the customers in relation to ecological products and encourage industrial operators to adopt clean and more efficient technologies.
Mauritius aims at developing a competitive base of human resources, through the access to knowledge, computer science and also learning for life, so as to ensure the development of quality products and services.
The vision of the government is to make Mauritius a nation of entrepreneurs by introducing appropriate policies, democratizing economy and by developing a culture of undertaking in the country.
The objective is to increase the GDP (Gross Domestic Product), which is currently US$ 7,100 per capita and to create jobs. The manufacturing sector employs about 26 per cent of the total manpower of the Island, which accounts for about 80 per cent of total export and contributes about 19 per cent of the GDP.
In addition to encouraging the restructuring and modernization of the textile and sugar sectors, the government is putting much emphasis on the development of the Information and Communication Technologies(ICT sector) and the promotion of Mauritius as a seafood hub in the region, using existing logistics and distribution facilities at the Freeport (free trade zone at the port and airport).
To further diversify the economic base and generate sustainable growth, the government is actively encouraging the following economic activities:
- Land-Based Oceanic Industry
- Hospitality and Property Development
- Healthcare and Biomedical Industry
- Agro-processing and Biotechnology
- Knowledge Industry and
- Renewable Energy