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Board of Investment organises workshop on Marine Biotechnology

Date: November 14, 2017
Domain:Economy & Finance; Fisheries; International Relations
Persona: Business; Citizen; Government; Non-Citizen

GIS - 14 November, 2017:  A one-day workshop focusing on the concrete actions that can expedite, harness and commercialise the country’s marine resources via strategic partnership, focused capacity building and contract based agreements to reduce regulatory and intellectual property gaps, opened yesterday at Le Meridien Hotel in Pointe aux Piments in the presence of the Minister of Ocean Economy, Marine Resources, Fisheries, and Shipping, Mr Premdut Koonjoo and other personalities,
This joint initiative of the Board of Investment (BOI) and the United States Embassy will help Mauritius understand the comparative advantage in maritime biotechnology; devise an attractive regulatory and legislative framework; engineer the development of an enabling ecosystem for biotechnology ventures as well as devise strategies of generating wealth and job creation in the ocean economy sector.
In his address, Minister Koonjoo stated that the workshop is in line with Government’s strategic vision of harnessing the economic potential of the ocean economy without adversely affecting the natural ocean environment. Mauritius, he emphasised is resolutely stepping up efforts to graduate to a high income economy and this will be possible by consolidating and innovating existing sectors while propelling emerging ones.
He recalled the Government Programme 2015-2019 and Mission Statement 2030 whereby Government spelt its vision to transform the ocean economy into a major multi-prolonged pillar of development.
Referring to the European Union publication “Marine Biotech”, Minister Koonjoo stated that by 2018 the global market for nutraceutical products is poised to be worth USD 250 billion. Hence he called on the Mauritius Oceanography Institute, the Fishing Research Centre, and other institutions to contribute more substantially in the ocean economy sector in the coming years.
For his part, the Chairman of the BOI, Mr Gerard Sanspeur, highlighted that Mauritius boasts an Exclusive Economic Zone (EEZ) of 2.3 million km2 and a striking marine biodiversity hotspot with recent discovery of hydrothermal vents within the EEZ of Mauritius. He expressed optimism that the workshop will set the foundation for the emergence of a continuous process to develop the sector, encourage public-private collaboration and above all leverage on the expertise and experience of international experts present on the occasion to elaborate a time-bound action plan with clear deliverables.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email:  Website:
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