The Economic Development Board (EDB) of Mauritius and the European Union launched an Investment Guide on Friday, May 12, 2023, in the presence of Dr. the Honourable Renganaden Padayachy, Minister of Finance, Economic Planning, and Development, Mr. Ken Poonoosamy, CEO of EDB, EU representatives, as well as business operators from Mauritius and Europe.
Mauritius is recognized as a preferred investment destination, not only for doing business within the country but also as a regional investment platform to serve Africa and Asia.
The collaboration between Mauritius and the European Union has lasted for over 50 years. During these years, the European Union and the Republic of Mauritius have built a strong trade partnership based on common values, starting from the Multifiber Agreement and the Sugar Protocol, and is now encompassing a wide range of areas such as:
- Trade and investment
- Climate change mitigation
- Sustainable agriculture
- Sustainable tourism
- Blue economy
- Healthcare sector
- Combating cybercrime
- Governance and human rights
The European Union places great importance on its partnership with the Republic of Mauritius and has supported Mauritius in achieving the objectives set in the government’s program for an inclusive, high-income, and green Mauritius.
The EU has provided technical assistance of 10 million euros from the dedicated envelope to support the implementation of the Interim Economic Partnership Agreement, which has been in place since 2012. As part of the project, a series of administrative reforms undertaken by ministries and public sector agencies have undergone business process reengineering. Legislative amendments have also been adopted under the Business Facilitation Act.
Another component of the project was the development and operationalization of the National Electronic Licensing System (NELS).
The licensing application process can be considered burdensome for businesses. Dealing with multiple agencies represents a significant administrative burden, not only for the businesses but also for the public agency whose decision relies on the opinion of another agency. There are also inconsistencies in the interpretation and implementation of licensing regulations, which add time and costs to the licensing process.Through NELS, Mauritius is able to process business permit applications through a single entry point in a more efficient and effective manner.