Oct 22, 2017 Last Updated 8:31 AM, Oct 20, 2017

Mauritius Finance Minister predicts significant rise in annual foreign investment

Mauritius edit ABNABN - The Mauritian economy is expected to grow in 2017 from 3.8% to 4%, thanks to increased foreign investment over the past year

, predicts the Finance Minister.

Minister Pravind Jugnauth told parliament ‘figures are expected to be around 14 billion Mauritian Rupees for the year 2016’.

This figure equates to US$391 million, and reflects a 44% rise on the previous year.

Foreign investors in the small island nation are stimulating economic growth in areas such as offshore banking, medical tourism and real estate.

In fact, during the nine months to September, investment in real estate alone reached 7.56 billion rupees.stors in the small island nation are stimulating economic growth in areas such as offshore banking, medical tourism and real estate.

France led the way in terms of foreign investment, bringing 3.52 billion rupees into the country, whilst China also invested 1.90 billion rupees.

This increased foreign investment is a welcome boost to the economy, which has traditionally relied on its sugar, tourism and textiles industry. 

@ABNetworkOnline

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