Skip Ribbon Commands
Skip to main content
Home>News>Budget 2019-2020: Innovation, productivity and skills to strengthen economic growth pillars

  News

Average Rating

Related News

Budget 2019-2020: Innovation, productivity and skills to strengthen economic growth pillars

Date: June 11, 2019
Domain:Economy & Finance; Business & Industry; Employment/Labour; Education & Training
Persona: Business; Citizen; Government; Non-Citizen
 

GIS - 11 June, 2019: One of the major avenues to embrace a brighter future for the nation is to strengthen the pillars of economic growth that comprises the development of Innovation Eco-System, boosting productivity by maximising the skills and talents of youths and spurring private investment.  
Budget 2019-2020 recognises the need for Mauritius to be among the leaders so that the country is able to keep pace with the innovation race on the global landscape, in order to experience faster economic growth.  Hence, a budget of Rs 100 million, that will be complemented with other financial resources from private sector contribution and through a special Lotto draw ,  has been earmarked for the  National Innovation and Research Fund which is provided by the  Mauritius Research and Innovation Council.
Furthermore, in line with Government’s innovative development strategy, Budget 2019-2020 puts emphasis on the need to equip youths with the required skills, and to that end a range of courses will be offered in areas including AI and Robotics and around 20 more international lecturers under the “Recruitment of International Faculty Scheme” will be employed.
Additionally, to further open the country to foreign skills and expertise,  a “Post-Study Work Visa” allowing  international students to work for 3 years in Mauritius after completion of undergraduate studies in sectors where there is scarcity of skills such as ICT, Fintech, AI and Biotechnology, will be introduced.  To ensure inclusiveness of innovation in the society,  Government in collaboration with Mauritius Telecom will offer to some 11,000 families, who are on the Social Register of Mauritius (SRM), free access to Broadband Internet .
Budget 2019-2020 makes provision for another Governmental measure to boost productivity by maximising the skills and talents of youths through the provision of training that is relevant to the job market. To this end,  a National Skills Matching Platform to assess the training requirement of job applicants and direct them towards the relevant employability scheme with the guarantee of a job at the end will be created, and an ‘Espace des Métiers’ for alumni of the National Apprenticeship Programme will be set up. Moreover, the number of trades under the National Apprenticeship Programme from 23 to 30 will be expanded.
Furthermore, in order to give a spur to private investment, Budget 2019-2020 provides for the elaboration of a new Business Facilitation Bill which will amend 26 legislations.  These amendments will, among others, expedite the start of businesses; eliminate unnecessary licenses and permits; expedite clearances at the port and airport; and align with international best practices regarding protection of minority investors and sharing of information.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: gis@govmu.org  Website: http://gis.govmu.org  Mobile App: Search Gov
(0) Comment(s)