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Dubai, UAE : The Mauritius Finance and Investment Week commenced in Dubai yesterday with a session dedicated to the exploration of Mauritius as an Investment Hub into Africa; as government officials and financial experts gathered to explore the unique opportunity Mauritius offers investors, seeking to safely venture into the African continent.
The first day of the weeklong business forum, held at Waldorf Astoria Dubai International Financial Centre, highlighted Mauritius’ political stability, solid regulatory framework, strong banking sector and various international trade agreements with global powers such as India and China, to illustrate the credible opportunities Mauritius presents as an investment gateway into Africa.
The forum began with a keynote address from the Honourable Mahen Kumar Seeruttun, the Minister of Financial Services and Good Governance, Republic of Mauritius. Referencing a recently-released independent report, Minister Seeruttun said: “The Mauritius International Financial Centre is a leading hub for trade, investment and capital raising in the African region, and a key driver of quality grade direct investment onto the continent. After India, Africa is the second largest destination for investment from Mauritius, totalling US$ 82 billion.”
He added, “Africa is developing at a rapid pace and is one of the fastest growing regions in the world. Its population is set to double by 2050 and its middle class is predicted to grow to more than one billion customers. For many investors around the world, this is an unprecedented opportunity to tap into a booming consumer market where their investments can find long term value.”
Praising Dubai, and the UAE, for leading the way in tumultuous times of crisis, Mr. Ken Poonoosamy, Commissioner General of Mauritius Pavilion at Expo 2020 Dubai and Chief Executive Officer, Economic Development Board, Mauritius, conveyed a sense of hope and optimism, saying: “Like most countries, Mauritius is suffering the impact of this global pandemic, yet such adversities can only strengthen our resolve to stay on a development course, and Dubai today is showing the way.”
“Despite the current crisis, Dubai has successfully brought together 192 nations at Expo 2020 to partner, share ideas, network and showcase how the future will look. A future where technology and innovation will take centre stage, particularly in the field of banking and finance,” he added.
Mauritius’ role in Africa’s unprecedented growth
With significant investments required to help meet the USD$350 billion objective set by the African Union's agenda and realise the United Nation’s Sustainability Development Goals, Minister Seeruttun stated that wealth and prosperity can only be created with more trade and investment activities facilitated by impactful nations such as Mauritius.
Delivering a presentation on the investment opportunities in Mauritius, Mr. Vinay Guddye, Director of Global Outreach, Economic Development Board, Mauritius, said as African nations embark on transformational processes, the continent’s unprecedented growth rates are due to a rise in trade, investment and structural transformation.
“And with its political, social and economic stability, sound regulatory framework and ease of doing business, Mauritius offers certainty for investors as an appropriate jurisdiction when trying to mitigate risk into Africa,” he said. “According to Moody’s credit rating, Mauritius is an investment grade country, and alongside a strong hybrid legal system – comprised of British common law and French civil law – Mauritius provides solid entry into the African continent for business.”
Mitigating investment challenges
During a panel comprised of representatives from the Economic Development Board of Mauritius and Mauritius-based finance and business service sectors, discussions focused on private equity, corporate investments across pan-Africa and private wealth.
And with improving governance across the continent, strong pent up consumer demand, a growing middle class and increasing demographics all playing a significant role in the vast investment opportunities emerging across the continent, the experts agreed that investment into Africa is not without its challenges.
Hence why Mauritius is well positioned, as a nation, to play an important role in mediating and mitigating investment risks onto a continent with huge potential for capital absorption within the next decade.
The experts also discussed how Mauritius’ unique position also makes it a key player in uniting a fragmented African continent, from an investment perspective. In the same way Singapore and Dubai played this role for a fragmented Asia and Middle East respectively.
The Mauritius Finance & Investment Week is being held from 5th to 9th December at Waldorf Astoria Dubai International Financial Centre, as an extension to Mauritius’ participation at Expo 2020 Dubai. To view the detailed agendas, please click here: https://www.dropbox.com/sh/lekftx8ixffzw9t/AACvrCRxoMvwT-SqleU7MHTja?dl=0
To register for a session, please send an email to rowelafante@sevenmedia.ae
For more information about Economic Development Board of Mauritius, please click here: https://www.edbmauritius.org/ . Also, for more information about Mauritius Pavilion at Expo 2020 Dubai, please click here https://www.mauritiusdubaiexpo2020.com/
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About Mauritius Finance & Investment Week
Mauritius Finance and Investment Week is an event hosted by the Economic Development Board (EDB) of Mauritius, under the patronage of the Government of Mauritius. The event will be held from 5th to 9th December in Dubai and will bring together leaders from Mauritius’ finance and investment sectors, along with industry experts, and in line with Mauritius’ participation at the Expo 2020 Dubai.
About Economic Development Board (EDB)
The Economic Development Board (EDB) marks a new beginning in the economic landscape of Mauritius. It heralds a new chapter in economic planning, investment, trade promotion and facilitation. The EDB commenced its operations as a statutory body in January 2018 following the merger between the Board of Investment, Enterprise Mauritius and the Financial Services Promotion Agency. The overarching objective of the EDB is to ensure greater coherence and effectiveness in implementing policies and draw the vision for the economic development path to be adopted to reach a high-income economy status, through sustainable and inclusive growth, whilst ensuring economic independence.
The mandate of EDB is to, inter alia, provide strong institutional support for strategic economic planning and ensure greater coherence and effectiveness in economic policy formulation; promote Mauritius as an attractive investment and business centre, a competitive export platform as well as an International Financial Centre (IFC); act as the main institution responsible for country branding for investment promotion; and facilitate both inward and outward investment and ensure a conducive business environment.
About Mauritius Pavilion
The Mauritius Pavilion is located in the Opportunity District of Expo 2020 Dubai, close to the Al Wasl Plaza. The pavilion takes visitors on an interactive journey of the tropical paradise island of Mauritius. The design features floor projections and a textured seascape wall and forest, allowing the visitors to explore the splendid nature of Mauritius. The predominant colour of the pavilion is warm, bright, and inviting, reflecting Mauritian hospitality.
The Mauritius Pavilion also invites visitors to discover the country’s achievements and how they are intertwined with its past - “The Roots of the Future”. Visitors will also explore Mauritius’ role in linking the world to Africa.
Media Contact:
Sneha Ashar
Seven Media
Email: snehaashar@sevenmedia.ae
© Press Release 2021
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