Government of Mauritius endeavours to develop pharmaceutical and vaccine manufacturing into an industry that becomes a growth pole for the Mauritian economy. This initiative constitutes an integral component of the government’s economic agenda to diversity into new sectors of activity targeting value-added products. Mauritius further aspires to act a as springboard for international pharmaceutical corporations so as to meet the needs of Africa in terms of vaccination and and other key therapeutics.
In this context, the Financial Secretary of the Ministry of Finance, Economic Planning and Development, Mr Dharam Dev Manraj, addressed a letter to the High Commission of India, to solicit the assistance of India in developing the pharmaceutical and biotechnology industry as a new pillar of the Mauritian economy.
The foundation for this project has been laid with the setting up of the Mauritius Institute of Biotechnology Ltd (MIB) and a seed capital of Rs1 billion (around USD 25M) is being provided for immediate investment in the biotechnology and pharmaceutical sector with possibility of further substantial investment.
Government has instituted an ecosystem that provides a conducive business environment to pharmaceutical operators. This includes a series of incentives which have been devised and provisioned to improve the cost of investment and cost of manufacturing.
