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The Emerging Economic Model of Mauritius Mr. Raj Makoond Director, Joint Economic Council . MAURITIUS. Track Record – Sustained Growth. Average GDP Growth (1970-2005) 5.2% Average Per Capita GDP Growth (1970-2005)4%. THE NEW ECONOMIC CONTEXT. Globalisation Loss of preferences

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MAURITIUS

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Mauritius l.jpg

The Emerging Economic Model of Mauritius

Mr. Raj Makoond

Director, Joint Economic Council

MAURITIUS


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Track Record – Sustained Growth

Average GDP Growth (1970-2005) 5.2%

Average Per Capita GDP Growth (1970-2005)4%


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THE NEW ECONOMIC CONTEXT

  • Globalisation

  • Loss of preferences

  • Economic diversification strategy


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ECONOMIC INDICATORS 2005

%

  • GDP3.1

  • Investment rate21

  • Unemployment 9.5


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THE NEW CHALLENGES

  • Implementing reforms

  • Corporate re-engineering

  • Moving form sectors to clusters

  • Becoming a regional player


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IMPLEMENTING REFORMS

  • INTEGRATION

  • - Corporate Tax

  • - Value Added Tax

  • - Customs Duty

  • - Rationalisation of incentive regimes


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IMPLEMENTING REFORMS

  • -Financial Services Development Act

    2001

  • -Companies Act 2001

  • -Telecommunications Act 2001

  • - Education Act 2005

  • - Public Utilities Bill

  • - Investment Climate Assessment

  • - White Paper on Labour Laws


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MAURITIUS From Sectors to Clusters

Cluster formation: painful process

Global Competitiveness Report 2003/2004

Mauritius Finland

  • Decentralisation of corporate activity90 7

  • State of cluster development31 1

  • Collaboration among clusters48 1


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BUILDING ON EXISTING STRENGTHS

  • Sugar Cane Cluster

  • Textile & Fashion Cluster

  • Hospitality Cluster


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EMERGING NEW CLUSTERS

  • Knowledge Cluster

    -Consultancy

    -Training

    -ICT, language and film industries

  • Seafood Cluster

  • Logistics and Services Cluster

  • Environment Cluster

  • Health Cluster


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REGIONAL PLAYER

Mauritius

  • Sugar

  • Textile

  • Tourism

  • Consultancy Services

  • Banking

    Label “Made by Mauritius” will replace the “Made in Mauritius”label


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Economic Trajectory

TEXTILE

SUGAR

TOURISM

FINANCIAL SERV.

ICT / BPO

REAL ESTATE

SEAFOOD/

AQUACULTURE

KNOWLEDGE

HEALTH

ENERGY

2000

TEXTILE

SUGAR

TOURISM

FINANCIAL

SERVICES

FREEPORT

1990

TEXTILE

SUGAR

TOURISM

1980

1970

SUGAR

Manufacturing & Services Economy

Monocrop Economy

Manufacturing & Tourism

Business Platform


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