Roadmap outlines path to help Mauritius achieve economic ambitions

In 2004, a study conducted by the National Productivity and Competitiveness Council in Mauritius concluded that the island state needed to diversify into a wider range of professional services - from accounting to management consultancy, engineering and architecture - if it was to realise its economic ambitions.

As part of its response to this proposed diversification, the government of Mauritius approached the Commonwealth Secretariat to assist in establishing a roadmap which would help the country realise this aim.

The Secretariat consequently organised series of symposia from which practical outcomes were drawn for what needs to be done by the government (in terms of policy and administrative change) and business (by way of change in strategic perspective, investment and employment).

Since these symposia, which took place in 2008, a number of recommendations which emerged have already been acted upon.

For instance, at one symposium there was a demand from professionals working in the Information and Communication Technology industry for more commercial buildings. Following this concern, 22 buildings have already been constructed.

Another issue mooted at this symposium was a lack of ICT training schools and facilities. The Mauritius government has now confirmed that an ICT Academy will become operational by the end of 2009.

Similarly, at the financial symposium there were frustrations raised about the business climate in Mauritius, prompting the government to adopt the Insolvency Act and amend the law to allow a Credit Information Bureau to be set up.

Business leaders also called for improvements in regulatory framework which allows foreign law firms to set up in Mauritius. The government has already amended the Law Practitioners Act, allowing foreign firms to establish themselves on the island.

Following these symposia a book has been published by the Secretariat to highlight the potential that Mauritius holds for potential investors looking into the professional services the country offers. These now include financial services (notably in private banking, wealth and asset management), IT enabled services (including legal process outsourcing and BPO), health (namely medical tourism and clinical trials as well as pre-clinical research) and education (vocational and tertiary education in financial services, hospitality, public administration and distance learning).

‘The Export of Tradeable Services in Mauritius’, written by Percy S Mistry and Nikhil Treebhoohun, a Trade Adviser at the Commonwealth Secretariat, also contains lessons to guide other small island developing states who are at an earlier stage of economic diversification.

“This book makes a most valuable contribution by drawing lessons from the Mauritian experience, carefully distinguishing between fortuitous circumstance and imaginative policy,” said Aaditya Mattoo, Lead Economist in the Development Research Group at the World Bank.

“It should be read by economists and policy-makers seeking insights on how small economies can benefit from international integration.”

Key Links:

• Country Profile: Mauritius
• Economic Development

Related News:

• Publications