Download MAURITIUS - Bob Russell

MAURITIUS
The Emerging Economic Model of
Mauritius
Mr. Raj Makoond
Director, Joint Economic Council
Track Record – Sustained Growth
Average GDP Growth
(1970-2005) 5.2%
GDP PER CAPITA (USD)
4640
5000
4000
3000
Average Per Capita
GDP Growth (19702005)
4%
2475
2000
1000
1000
320
0
1970
1980
1990
Year
2004
THE NEW ECONOMIC CONTEXT
• Globalisation
• Loss of preferences
• Economic diversification strategy
ECONOMIC INDICATORS 2005
%
GDP
3.1
Investment rate
21
Unemployment
9.5
THE NEW CHALLENGES
• Implementing reforms
• Corporate re-engineering
• Moving form sectors to clusters
• Becoming a regional player
IMPLEMENTING REFORMS
• INTEGRATION
• - Corporate Tax
• - Value Added Tax
• - Customs Duty
• - Rationalisation of incentive regimes
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
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
• Sugar Cane Cluster
• Textile & Fashion Cluster
• Hospitality Cluster
EMERGING NEW CLUSTERS
Knowledge Cluster
-Consultancy
-Training
-ICT, language and film industries
Seafood Cluster
Logistics and Services Cluster
Environment Cluster
Health Cluster
REGIONAL PLAYER
Mauritius
• Sugar
• Textile
• Tourism
• Consultancy Services
• Banking
Label “Made by Mauritius” will replace
the “Made in Mauritius” label
Economic Trajectory
2000
1990
TEXTILE
SUGAR
TOURISM
1980
1970
TEXTILE
SUGAR
TOURISM
FINANCIAL
SERVICES
FREEPORT
TEXTILE
SUGAR
TOURISM
FINANCIAL SERV.
ICT / BPO
REAL ESTATE
SEAFOOD/
AQUACULTURE
KNOWLEDGE
HEALTH
ENERGY
SUGAR
Monocrop
Economy
Manufacturing
& Tourism
Manufacturing
& Services
Economy
Business
Platform