PM: Shopping tourism a major support of the economy

Speaking at the official opening of the Bagatelle Mall of Mauritius on Wednesday morning, Prime Minister Dr Navin Ramgoolam said the “formidable transformation of this area” was a “demonstration of business confidence and of the economic health of Mauritius.”

He said that investment in the construction industry and in real estate is expected to expand at a rate of over eight per cent this year.

He commended the Espitalier Noel Group (ENL) and its South African partner Atterbury for realising the project on schedule. The Bagatelle opened its doors to the public on September 29.

The PM said that the government will do its best to attract companies with pro-investment reforms, right infrastructure, regulatory framework and sound management of national finances.

The Bagatelle project involves Mauritian capital and FDI and “is in line with the government’s commitment to further diversify our economy and our tourism market while ensuring world class development.”

He declared his government’s plans to make shopping tourism a major pillar of the economy and attract 200,000 brand conscious visitors by 2014, and to generate an annual turnover of approximately Rs 20 billion by 2020.

Speaking on the occasion South African development partner of the project Atterbury CEO Louis van der Watt paid tribute to “unique” local craftsmanship adding that this kind of development would not have been possible even in his home country.

ENL group CEO Hector Espitalier-Noël called the project a symbol of the lasting partnership between the government and private sector.

Addressing the gathering comprising ministers Abu Kasenally, Suren Dayal, Cader Sayed-Hossen and Hervé Aimée, ENL Property CEO Gilbert Espitalier-Noël said the speedy completion of Bagatelle illustrates the conducive business environment in the nation.

He also informed that the Rs 325-million, 6,000-sq m Kendra mall at Saint Pierre will open in September 2012.

The Prime Minister also said the High-Level Project Monitoring Committee set up in June to support and accelerate the implementation of major projects already cleared Rs 25 billion worth of projects.