The invitation was extended by Mauritius President Dr Ameenah Firdaus Guarib-Fakin during a meeting with the All Pakistan Textile Mills Association (Aptma) at a local hotel on Wednesday.
She said there were huge opportunities on the technical side of the textile sector in Mauritius – a small island nation located on the east of mainland Africa and often termed ‘the gateway to Africa’ – that remained unexplored.
Moreover, she said, Pakistani entrepreneurs could also take advantage of Mauritius to penetrate the United States (US) and European markets.
“Mauritius is recognised among the first six places in the African region, recommended to people who wish to relocate. It is one of the leading areas in the region in terms of ‘ease of doing business and good governance’ as per the World Bank Ease of Doing Business report 2016,” said the President.
“Since its independence in 1968, Mauritius has experienced a sustainable transformation; moving from a mono-crop agricultural base to a well-diversified economy,” she added. The government of Mauritius provides ten-years exemption from income tax on all income, inclusive of foreign investment under the Mauritian Diaspora Scheme. Also, there is no minimum capital requirement for incorporating a company; 100% foreign ownership is allowed and there exists no exchange control for foreign investment.
Aptma Chairman Tariq Saud said there was a need of close liaison between the business communities of the two countries and invited Mauritian entrepreneurs to enter into joint ventures with Pakistani textile mills.