dr j jhurry's whef bangkok

7/27/2019 Dr J Jhurry's WHEF Bangkok

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WHEF 2013 @ Bangkok : Strengthening Economy, Shaping Future

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


7/19WHEF 2013 @ Bangkok : Strengthening Economy, Shaping Future


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




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


Best Countries for Doing Business


Source: World Bank

Index of Economic Freedom 2012


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




Mauritius:Manufacturing & TradingPlatform for Africa

MAURITIUS




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




KEY MARKET ACCESS

AGOA

EPA

COMESA

SADC

FTA withTurkey


EPA Economic PartnershipAgreement with EU

FTA Free Trade Agreement




MARKET ACCESS : COMESA SADC

$427billionGDP

258 millionPopulation

$152billionImport Bill

$157billionExport Bill

430 millionPopulation

COMESASADC

15 member states

19 member states





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





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




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:




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



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




WORLD HINDU ECONOMIC FORUMINVESTMENT & BUSINESS HUB OF THE REGION:NETWORK OF INVESTMENT PROMOTION AND PROTECTION

AGREEMENTS

38 IPPAs

19 IPPAs are withAfrica



19/19WHEF 2013 @ Bangkok : Strengthening Economy Shaping Future


Thank You

dr j jhurry's whef bangkok

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