The investment facilitation measures announced in last year's budget have started to bear fruit. Private investment and Foreign Direct investment (‘FDI’) are on the rise, exceeding the results of the four previous years, and Government is firmly set to further build on this momentum.
Government has also showed its commitment to further reduce red tape, facilitate Investment and assist SMEs by announcing a number of measures:
- A new system will be used to identify gaps, duplications and bottlenecks in guidelines, regulations and processes
- SEHDA and BOI will set up a mechanism for businesses to report difficulties
- SME Help Desks will also be set up
- Changes will be brought to the Building and Land Use Permit and to the Land Conversion Permit to eliminate hurdles, including fast-tracking facilities
The strategic aim to boost investment will also be helped by measures to open our economy even further, including:
- Amendments to the Law Practitioner’s Act to allow the establishment of law corporations by both Mauritians and foreigners
- Foreigners earning more than Rs150,000 a month will be eligible for Permanent Residence Permits and will be allowed to purchase property after 3 years of work in Mauritius. The Non-Citizens (Property Restriction) Act will be amended accordingly
- Business visas will be granted for 180 days (as opposed to 90)
- Holders of Residence Permit under the IRS will be automatically eligible for an Occupation Permit
