GIS - 07 January, 2019: Mauritius has been ranked 39th in the list of Best Countries for Business 2019 and is the only African country featuring in the top 40 according to a report of the American Magazine, Forbes.
Forbes states that Mauritius has experienced a growth of 3.8%, a GDP per inhabitant of USD 10 500, and an average absolute trade balance as a percentage of GDP of minus 6.6%.
According to the magazine, Government has put in place several policies to boost the following sectors: development of Smart Cities and Ocean Economy; investment in the African Continent; usage of renewable energy; and infrastructural modernisation.
Forbes highlights that Mauritius has attracted more than 32 000 offshore entities from across India, South Africa and China. Mauritius, according to the Forbes, with its strong textile sector is well poised to take advantage of the Africa Growth and Opportunity Act as it enjoys a quota free access on the American market.
Several factors have contributed into ranking the country as the top African country for business. They are namely: an increased competitiveness of the textile industry; a fairer tax competition; and an improved business climate.
The magazine concludes that the economy of the country has grown in the range of 3 to 4% per year for the period 2010-2017 and that the country continues to expand its trade and investment outreach across the globe.
Forbes rates 161 countries on 10 metrics, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, and investor protection.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: firstname.lastname@example.org Website: http://gis.govmu.org