Mauritius embarks on roadshow to attract SA investors

The Economic Development Board of Mauritius is currently on a roadshow in South Africa, aiming to solidify Mauritius' position as a premier investment destination and International Financial Centre of choice. Ken Poonoosamy, Chief Executive Officer for the Economic Development Board of Mauritius, shared insights on the purpose of their visit and the opportunities available for South African investors. Poonoosamy highlighted the longstanding relationship between Mauritius and South Africa in terms of economic development, trade, investment, and tourism. He emphasized the goal of fostering win-win partnerships, joint ventures, and strategic alliances with the South African business community. The roadshow seeks to showcase Mauritius as an attractive investment platform, not only for local businesses but also as a gateway to global markets. Mauritius presents a diverse range of investment opportunities in sectors such as agri-industry, manufacturing, and financial services. Poonoosamy emphasized the importance of creating partnerships that involve technology, know-how, and investment to drive economic growth. The country's open business environment, coupled with initiatives like residency programs and property acquisition, aims to attract and facilitate foreign investments. Addressing concerns about taxation, Poonoosamy reassured that Mauritius adheres to international standards and provides a conducive business environment beyond tax benefits. While the global minimum tax rate may impact some jurisdictions, Mauritius remains competitive with a 15% corporate tax rate and a focus on ease of doing business and risk mitigation. In the context of South Africa's economic challenges, including unemployment and inequality, Poonoosamy stressed the importance of partnership and mutual benefit between the two nations. Mauritius aims to strengthen trade ties, import-export relationships, and investments to enhance prosperity and trade momentum between the countries. The roadshow also targets partnerships in growth sectors such as healthcare, life sciences, and renewable energy, seeking collaborations with South African companies for sustainable development. Poonoosamy mentioned the significance of engaging with public sector stakeholders to align policies and agreements that support business operations between Mauritius and South Africa. Overall, the Economic Development Board of Mauritius is dedicated to nurturing existing relationships and exploring new avenues for economic cooperation during the seven-day roadshow across four South African cities. The trip aims to attract South African investors and reinforce the economic ties between the two nations.