Vice-Prime Minister Jugnauth Reaffirms Vision of Making of Mauritius Duty-Free Island

The Vice-Prime Minister, Minister of Finance and Economic Development, Mr Pravind Jugnauth, has reaffirmed his determination and conviction that Mauritius should become a duty-free island and a shopping paradise with top class physical infrastructure and that these visions should be implemented concurrently.

The Vice-Prime Minister was speaking yesterday, at the presentation and launch of the Grand Baie-La Croisette project, at La Cannelle, Domaine les Pailles.

Mr Jugnauth recalled that the decision to make Mauritius a duty-free island got a “better than expected enthusiastic response” from both local and international business communities when it was announced in the 2005/2006 Budget.

According to him, today there are ample reasons for the government to support the duty-free island concept and the development of Mauritius into a shopping paradise, for the country has set its goal on attracting two million tourists a year and with modernised infrastructures at the port and the airport as well as cruise tourism which is expanding at a fast pace, the implementation of such a project will create new economic space for investments, business and trade that will make up for the foregone government revenue.

In Mr Jugnauth's view, ventures such as La Croisette should be a major source of encouragement for the government to reaffirm its commitment to the shopping paradise concept. He added that the project, to be implemented by the Fon Sing Group, bears testimony to the innovatory and avant-garde capabilities of the local business community.

Grand Baie-La Croisette project consists of an integrated complex comprising commercial, residential and office spaces, to be implemented over an area of some fifteen acres of land at a total cost of about Rs 2 billion. The first phase will start in two months. The project will create around 500 job opportunities and with its mixed-use aspect and integrated feature, it is expected to have a major impact on the real estate infrastructure in the northern region and in the country at large.