A development that the Mauritian authorities deem interesting and important. Reason: because of its many implications, especially in our relations with our traditional trading partners, namely, Europe and the USA. Especially as the diversification of our economy is increasingly necessary and African markets are more promising.
Maurice is certainly no part of the BRICS, but maintains on a bilateral basis, long-standing relationships with key stakeholders, including China, India and Africa. Can we replicate the successful operation that we conducted with India in regard to Foreign Direct Investment (FDI) that are important for the growth of developing countries? In the offshore sector, we venture to think that may be the Jersey Maurice Africa.
Alastair Bryce, CEO of HSBC, says HSBC is used to evolve the emerging markets (about 150 years) and to manage the risks inherent in these markets. This, according to him, is a real challenge. Under many opportunities that exist on the African continent in the consumer sectors and commodities, among others. This, he says, requires a real commitment.
Beyond the difficulties of the Treaty, India, Mauritius has a reputable financial center with adequate infrastructure and proper functioning of the rule of law giving investors much comfort, one; very important for investment. This is to attract investment flows venaint Asia and other parts of the world such as the Middle East, Europe and Australia to Africa.
The main argument of Mauritius, according to Alastair Bryce, is to provide investors who want a diverse portfolio, a single base of operations instead of multiple bilateral investment. Mauritius can become a hub for trade and investment for the African market. Because Maurice was connected to the various regions before.
Brian Lee, Managing Director of Minerva Trust & Corporate Services Ltd, said that Mauritius has particular expertise to develop activities such as fund administration based on a network of tax treaties with many countries in Africa.
Vipin Shah, Founder and Chairman of Minerva Trust & Corporate Services Ltd, explained that unlike in Mauritius, some financial centers in the region, such as Kenya, have not the expertise to manage the 'trusts' premises. For him, there is therefore no direct competitors for Mauritius as offshore jurisdiction to serve customers in Kenya.
Vipin Shah believes that Cairo, Lagos, Johannesburg and Nairobi have different expertise because they are financial centers tend to focus on domestic markets unlike Maurice, who is an offshore center that can provide additional services for the 'trusts' or administration of companies. "There are opportunities for Mauritius as an offshore jurisdiction with an extensive network of tax treaties," he says.
Note that Minerva, 60% of business from Africa, explains Vipin Shah, counts among its customers many Non-Resident Indians (NRI), authors of many creations of wealth in the world and seeking opportunities to keep their wealth within the family. In addition, he exclaims, India will need the cooperation of Mauritius to invest in Africa.
Brian Lee explains that wants to develop a strategy Minerva 'Hub to Hub' with financial centers such as Dubai, Singapore and Jersey, where Minerva is present, with a network of treaties and structures of various customers. To the direction of Minerva, the time is now. Mauritius is an access point for Africa and it has a strategic role to play in Africa for the rest of the world.
Mauritius plans to launch a trading platform to hedge African currencies against the U.S. dollar, part of a bid to expand its role as a financial hub for the continent, the financial services minister said.
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