Boosting Mauritius: Record FDI Inflows, NELS Milestone, and Key Partnerships
Category Economy
The Bank of Mauritius recently published encouraging figures on Foreign Direct Investment (FDI) inflows for the first half of 2024. FDI reached Rs15.9 billion, marking a significant 17.8% increase from Rs13.5 billion during the same period in 2023. This growth underscores the increasing confidence of international investors in Mauritius, with major investments originating from France, South Africa, Switzerland, and the USA.
This October marks the sixth anniversary of the National E-Licensing System (NELS), a landmark initiative launched in October 2018 that has transformed the business licensing process in Mauritius. By creating a single-entry platform for applications, payments, processing, and determinations, NELS has greatly reduced bureaucratic hurdles, simplifying the journey for businesses in Mauritius.
The response to NELS has been overwhelmingly positive. In 2023 alone, over 77,000 applications were submitted through the system, covering a variety of permits and licenses. This year, more than 60,000 applications have already been processed, reaffirming the system's reliability and the trust businesses place in it. Since its launch, NELS has facilitated the seamless processing of over 254,000 permits and licenses, a testament to our commitment to leveraging technology for streamlined service delivery and economic growth.
Looking forward, the EDB is advancing projects that further enhance efficiency and effectiveness. Among these is the development of the Property Acquisition Management System (PAMS), which will optimize property transactions through NELS, ensuring that Mauritius remains a destination of choice for business and investment. In addition, we are undertaking a significant upgrade to our Customer Relationship Management (CRM) system, designed to deliver exceptional service to stakeholders and reinforce our commitment to excellence.
Recently, the EDB had the pleasure of hosting an inward mission from Prosper Africa, in collaboration with the US Embassy, marking an important step in strengthening trade and investment ties between Mauritius and the USA. This partnership opens new pathways for Mauritian businesses to grow and expand by tapping into Prosper Africa's vast resources.
The EDB also participated in the Annual General Meeting of the World Alliance of International Financial Centers (WAIFC) in Japan from 14 to 18 October 2024. During the event, the WAIFC Regional Chapter for Africa hosted a business forum that explored investment opportunities between Japan and African countries, positioning the Mauritius International Financial Centre as a key global finance player.
In addition, the EDB organized a productive workshop with the Agence Française de Développement (AFD) to develop a framework for assessing projects based on Environmental, Social, and Governance (ESG) criteria. This initiative aims to foster a robust ESG culture in Mauritius by setting guidelines that encourage enterprises to integrate meaningful ESG practices into their operations.
As we continue to elevate our services, the EDB is committed to collaborating with ministries and authorities to make doing business in Mauritius straightforward and transparent. Clear and accessible guidelines from our licensing authorities, paired with adherence from businesses, will ensure a positive, investment-friendly environment.
In attracting Foreign Direct Investment (FDI) and encouraging local investment, we are dedicated to creating a dynamic ecosystem in Mauritius. By positioning Mauritius as a premier location for companies to invest, operate, and thrive, we are working toward a knowledge-driven economy that generates high-quality, capability-intensive employment opportunities.
Author: EDB & Jay