BoI Noted "Strong Interest" of Chinese Investors to Mauritius

This reported general manager Ken Poonoosamy in the latest monthly bulletin of the investment promotion agency. He believes that contacts with potential investors provide confirmation that the concept Mauritius as a platform to structure financial investments towards Africa is doing its path.

The General Director of Board of Investment (BoI) announces that during the mission business in Hong Kong, Shanghai and Beijing Chinese banks operating in the financing of trade and investment have shown their interest in Mauritius as a financial platform. Companies engaged in other sectors also, according to Ken Poonoosamy, expressed interest in the country to establish a regional headquarters to manage their cash flow.

Ken Poonoosamy reported in the March 2013 survey that Chinese direct investment in Africa has grown rapidly. These investments have increased from USD 700 million in 2000 to USD 13 billion by the end of 2010, and relate to various fields such as finance, mining, manufacturing, construction, agriculture, business and commerce. According to the BoI General Director, the signing of memorandum of understanding between China and African states on the implementation of infrastructure pave the way for exponential growth businesses.

The direction of the BoI also discusses the impact of a business forum held in Cape Town and attended by about 160 businessmen. Participants shared their plans for Mauritius. In addition, he announced that the Minister of Western Cape, during a work meeting, meant "its willingness to initiate bilateral partnerships with Mauritius." The film industry, says he could be the first area of cooperation.

"Our most recent contacts with markets indicate a willingness on the part of investors to use the platform in Mauritius because of its stability and reliability," says Ken Poonoosamy. Investors such as financial institutions, he says, are interested in using our financial center to penetrate the African market is to start, or to diversify their activities. "This is in itself a confirmation of the relevance of our strategy for Africa," said the General Director of BoI. He considers that the network of agreements for the promotion and protection of investments signed by Mauritius with African states will be very useful to build confidence among investors.

Moreover, the direction of the BoI welcomed the progress (+7.3% in the first quarter of 2013) of the businessmen confidence indicator as announced by the Mauritius Chamber of Commerce and Industry (MCCI). "This study has dispelled negative perceptions. It restores trust. The business climate improves. Investments should be on the rise in different sectors of the economy, namely trade, manufacturing and services, "said Ken Poonoosamy.