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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

The Emerging Economic Model of Mauritius

Mr. Raj Makoond

Director, Joint Economic Council

MAURITIUS
track record sustained growth
Track Record – Sustained Growth

Average GDP Growth (1970-2005) 5.2%

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

the new economic context
THE NEW ECONOMIC CONTEXT
  • Globalisation
  • Loss of preferences
  • Economic diversification strategy
economic indicators 2005
ECONOMIC INDICATORS 2005

%

  • GDP 3.1
  • Investment rate 21
  • Unemployment 9.5
the new challenges
THE NEW CHALLENGES
  • Implementing reforms
  • Corporate re-engineering
  • Moving form sectors to clusters
  • Becoming a regional player
implementing reforms
IMPLEMENTING REFORMS
  • INTEGRATION
  • - Corporate Tax
  • - Value Added Tax
  • - Customs Duty
  • - Rationalisation of incentive regimes
implementing reforms7
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
mauritius from sectors to clusters
MAURITIUS From Sectors to Clusters

Cluster formation: painful process

Global Competitiveness Report 2003/2004

Mauritius Finland

  • Decentralisation of corporate activity 90 7
  • State of cluster development 31 1
  • Collaboration among clusters 48 1
building on existing strengths
BUILDING ON EXISTING STRENGTHS
  • Sugar Cane Cluster
  • Textile & Fashion Cluster
  • Hospitality Cluster
emerging new clusters
EMERGING NEW CLUSTERS
  • Knowledge Cluster

-Consultancy

-Training

-ICT, language and film industries

  • Seafood Cluster
  • Logistics and Services Cluster
  • Environment Cluster
  • Health Cluster
regional player
REGIONAL PLAYER

Mauritius

  • Sugar
  • Textile
  • Tourism
  • Consultancy Services
  • Banking

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

slide12

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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