Mauritius sees FDI falling

Comment on this story
Mauritius Reuters. A lone fisherman manoeuvres his small boat along the East coast of Mauritius near Ile aux Cerfs which has one of the most picturesque and spectacular beaches on the Indian Ocean island.

Mauritius sees foreign direct investment (FDI) to the Indian Ocean island falling by 42.6 percent in 2011, from record levels last year when investment was boosted by two exceptionally big deals, its Finance minister said on Tuesday.

Xavier Duval told parliament that provisional estimates from the central bank showed FDI flows of around 3.4 billion rupees ($117.85 mln) in the six months through June .

“Based on latest information available on FDI flows and expected projects, we are estimating total FDI to be around 8 billion rupees this year,” Duval told lawmakers.

Mauritius, which markets itself as a bridge between Africa and Asia, said FDI jumped 60 percent in 2010 to 13.95 billion rupees.

Duval said 2010 figures included two exceptional transactions in the healthcare and the banking sectors. Excluding those transactions, total inflows amounted to 10.4 billion rupees last year.

Famed for its white sand beaches and luxury spas, Mauritius is diversifying its economy away from the traditional sugar, textiles and tourism sectors into offshore banking, business outsourcing, luxury real estate and medical tourism. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.