The Minister of Finance and Economic Development, Mr Vishnu Lutchmeenaraidoo, who is currently in New Delhi, India for a promotional roadshow with regard to the Smart Cities project, participated yesterday in a business meeting with potential Indian investors.
The meeting which was attended by the business community in India and representatives of the Mauritian private sector served as platform for Mauritius to market the various aspects of the Smart Cities project.
The Mauritian side, through the Board of Investment (BOI), made a presentation on the possible avenues of cooperation and investment in various projects to be set up across the island. The Ministry of Finance and Economic Development has also developed a Smart City Scheme that offers a package of attractive fiscal and non-fiscal incentives to investors.
The Special Economic Zones (SEZs) which Mauritius plans to set up in Africa especially Ghana, Madagascar and Senegal were also presented to the Indian investors. The BOI made a presentation of the techno-park project in Accra, Ghana.
In his address on the occasion Minister Lutchmeenaraidoo reiterated Government’s interest in the setting up of the Smart Cities as well as in the creation of the SEZs to achieve further growth. He invited Indian investors to be part of the development project.
The Minister presented Mauritius as a land of opportunities and an ideal gateway for Indian investments in Africa. He also reassured the investors about the significance of the Double Taxation Avoidance Treaty for India and Mauritius with a view to facilitating investments from India into Africa and vice-versa. On that score he outlined that Mauritius is a clean jurisdiction as far as investment promotion and protection and the transparent financial services sector.
Minister Lutchmeenaraidoo also spoke on the Legacy Sovereign Fund, as announced in the 2015-2016 budget which at an initial phase will invest in Africa. According to the Minister, the creation of the Legacy Sovereign Fund will translate into action the strong will of Mauritius to encourage Mauritian companies to set up branches in Africa.
During his mission the Minister of Finance met the Indian Minister of Foreign Affairs with whom he discussed about the opportunities of investment in the construction of a fishing port in the Port Louis Harbour, in line with Government’s vision to transform the port into a regional bunkering Hub.