FDI from January to June stood at Rs 3 billion

According to a press release from the Bank of Mauritius (BoM), foreign direct investment (FDI) from January to June stood at Rs 3 billion.

The governor of BoM, Rundheersing Bheenick welcomed the report and said that this is a honourable performance taking into consideration the global meltdown.

FDI fell by 60 per cent this year in relation to the same period of 2010 when Rs 8,244 was received.

According to the former director of BoI, Prakash Maunthoora, 2010 was an exceptional year with a record investment of up to Rs 13,498.

“It was exceptional since the world was going through financial woes and yet the island received a record level of FDI,” he said.

He added that a low level of taxes was one of the factors that led to record in FDI in 2010. The numbers were superior in comparison to the four preceding years. In 2009, FDI reached Rs 8,793 million, Rs 11,419 million in 2008, Rs 11,514 million in 2007 and Rs 7,222 million in 2006.

From January to June, the island invested Rs 1,135 million in foreign shores. This consisted of Rs 447 million in agriculture, Rs 240 million in restaurant and housing sector, Rs 251 million in financial services, Rs 18 million in ICT.

In 2010, the island invested Rs 4 billion in foreign shores, mainly in medical, financial services, real estate and the hotel sector. Of the Rs 1 billion invested, Rs 926 million was invested in the African continent, including Rs 586 million in Mozambique, Rs 40 million in Madagascar, Rs 20 million in Seychelles, Rs 12 million in South Africa and Rs 64 million in Reunion.

The island also received investments worth about Rs 1 million from India, Rs 48 million from Thailand and Rs 8 million from United Arab Emirates.