Download - Dr J Jhurry's WHEF Bangkok
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WORLD HINDU ECONOMIC FORUM
www.investmauritius.com
M aur itius: Gateway to Afr ica
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Economic Overview
MAURITIUS
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WORLD HINDU ECONOMIC FORUMGEOGRAPHICAL LEVERAGE
ECONOMICOVERVIEW
Key Facts Area:
2,040 sq km (788 sqmiles)
Population:1,288,684 (2011)
Population density :632 per sq km
Exclusive EconomicZone :1.9 million km+ 396,000 km jointextended shelf withSeychelles
Capital:Port Louis
Government:Republic established in1992.Gained independencefrom the UK in 1968.
Official Language:English
Key Indicators
GDP Growth: 3.3% (2012)
Repo Rate:4.65% (as at date)
Legal System:Hybrid Legal System
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Source: Sta t is t ics Mauri t ius
2012 GDP COMPOSITIONECONOMICOVERVIEW
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Fisheries Industry
Mauritius is the 3rd main exporter of tuna to Europe and 1st in UK
Port and related services The Mauritian port handles 99% of total volume of external trade and
contributes 2% of national GDP Numerous opportunities: Freeport and logistics, ship chandelling and repairs,
ancillary services, bunkering and storage
Ocean-related tourism Ocean based tourism is a growing segment of international tourism Cruise passengers to Mauritius increased more than twice from 2006 to 2012
Seabed Exploration Offshore crude oil is the only growing segment of the global oil industry South Indian Ocean is one of the least unexplored region in the world forhydrocarbons and minerals
Marine Renewable energy Offshore wind farms installed capacity: from 6 GW to 175 GW by 2035 Mauritius pioneering DOWA projects in the region
ECONOMICOVERVIEW Ocean Economy
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Doing Business
Regime
MAURITIUS
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WORLD HINDU ECONOMIC FORUM
Start a businessin 3 working days
No minimum capitalrequirement
100% Foreignownership
Right to Live
and
Work in
Mauritius
Start Up
OccupationPermit
Homogenised 15% corporate tax
Personal Income tax at 15%
VAT at 15%
0% Corporate Tax in the Freeport No Capital Gains Tax
Global Business : max 3%
Free movementof
CapitalAcquisition of
propertyby
non-citizen
Taxation
Land & Property Acquisition
Social & Political Stability
(parliamentary democracy) Modern Legislation &
effective regulation
Political & LegalEnvironment
ExchangeControl
COMPETITIVE & INVESTOR FRIENDLYINVESTMENT CLIMATE
DOINGBUSINESSREGIME
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World Bank Doing Business Survey 2013
Overall Rank 19th Globally1st in Africa
Starting a business 14th
Protecting investors 13th
Paying taxes 12th
Environmental Performance Index
Overall Rank 6th Globally1st in Africa
Best Countries for Doing Business
Overall Rank 19th Globally1st in Africa
Source: World Bank
Index of Economic Freedom 2012
Overall Rank 8th Globally1st in Africa
Source: Heri tage Foundat ion
Source: World Econom ic Forum
Mo Ibrahim Index 2012
Overall Rank 1st in Africa
WHO Air Quality Index
Overall Rank 2nd GloballySource: WHO
Source: Mo Ibrahim
Source: Forbes
INTERNATIONAL RANKINGS &RECOGNOTION
DOINGBUSINESSREGIME
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Mauritius:Manufacturing & TradingPlatform for Africa
MAURITIUS
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ESTABLISHED MANUFACTURINGBASE
Composition of theManufacturing Sector
(2012)
Others include:Paper Products, Rubber plastics products,Basic metals, Non metallic mineral products,Pharmaceutical, Precision and optical instruments, Watches and clocks, Furniture
Source: Statistics Mauritius
PrecisionEngineering Automobile and
Aircraftcomponents
Watches andJewellery
Health Care Pharmaceuticals Medical devices and
Equipment
Fashion IndustryDesigner /branded &up market garments
Technical Textiles Seat covers and
upholsteries
SustainableDevelopment Biogas
FoodProcessing Seafood
processing Fruit and
Vegetableprocessing
MAURITIUS FOR AFRICA
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KEY MARKET ACCESS
AGOA
EPA
COMESA
SADC
FTA withTurkey
MAURITIUS FOR AFRICA
EPA Economic PartnershipAgreement with EU
FTA Free Trade Agreement
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MARKET ACCESS : COMESA SADC
$427billionGDP
258 millionPopulation
$152billionImport Bill
$157billionExport Bill
430 millionPopulation
COMESASADC
15 member states
19 member states
MAURITIUS FOR AFRICA
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Goods to be consigned directly from a Member Stateto a consignee in another Member State and
(a) They have been wholly produced/obtained
(b) Have been produced in a Member State usingnon-originating materials , provided that such materialhave undergone sufficient working or process in oneor more Member States; or
(c) There has been a change in the tariff heading of aproduct arising from processing carried out on thenon-originating materials.
1. The goods should be wholly produced or obtainedon a Member State ;
2. The goods should be produced in the MemberStates and the CIF value of any foreign materialsshould not exceed 60% of the total cost of allmaterials used in their production; or
3. The value added resulting from the process of producing the goods from imported materials shouldaccount for at least 35% of the ex-factory cost of thegoods; or
4. The goods should be produced in Member Statesand be classified or become classified, after theprocess of production, under a tariff heading otherthat the tariff heading which they were imported(CTH rule)
Certificate of Origin Rules
MAURITIUS FOR AFRICA
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DEVELOPED PORT & FREEPORT
Freeport Act2004
BOI acts asRegulatory
Body
Duty-Free andVAT free for goods andequipment
imported intoFreeport zones
100% corporatetax exemption
Reduced porthandlingcharges
50 % of turnover sales to thelocal market
Access tooffshorebankingfacilities
MAURITIUS FOR AFRICA
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WORLD HINDU ECONOMIC FORUMESTABLISHED FINANCIAL INDUSTRY
Brokerage Houses Accountancy firms Tax & Investment advisers International Law Firms Leasing Companies
General Insurance Long term insurance Captives Reinsurance
Investment Holdings Global Managed Funds Fund Administration Fund Management
Banking
Insurance
Capital Markets
Other FIs
Global Business(More Than 26,000GBCs and over 900
Funds)
Retail & Corporate Banking Private Banking & Wealth Mgt Investment Banking
Equities Market Commodities Trading Platform Derivatives
Functional Groups FunctionsPresent inMauritius
Mauritius as theAfrican CapitalRaising Centre
Banks to set up for Trade Financing Investment
Banking Regional Treasury
Management Corporate Finance
Houses International Legal
Services
Opportunitiesexists for:
MAURITIUS FOR AFRICA
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WORLD HINDU ECONOMIC FORUMHE REGIONAL FINANCIAL PLATFORM OF CHOICE
In 2012, over 50% of new global business companies
(GBCs) through Mauritius targeted Africa
Leading PEs active in Africa are using Mauritius astheir base : Africa Development Bank, Actis, Helios
Mauritius: preferred
financial platform for Africa
Mauritius , A platform for outward investments
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WORLD HINDU ECONOMIC FORUMREGIONAL HEADQUARTERS INMAURITIUS
Expatriate staff allowed -Occupation and ResidencePermit in 3 days
Tax advantage flat 15%income tax
Sound regulatory framework Social and Political Stability Multilingual Workforce Proximity to Africa
Tax liability limited to 3%(GBC1 company)
No Exchange control
Tax resident in Mauritius 43 DTAAs (18 with Africa) 38 IPPAs (19 with Africa)
Tax
Residency
Tax
Incentives
Regional
Headquarter
Other
advantages
MAURITIUS FOR AFRICA
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WORLD HINDU ECONOMIC FORUMINVESTMENT & BUSINESS HUB OF THE REGION:NETWORK OF INVESTMENT PROMOTION AND PROTECTION
AGREEMENTS
38 IPPAs
19 IPPAs are withAfrica
MAURITIUS FOR AFRICA
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WORLD HINDU ECONOMIC FORUM
Thank You