Accelerating the pace of economic recovery and building resilience to sustain a high long-term growth was as at the fore of discussions held during a public-private sector dialogue, at the Hennessy Park Hotel, in Ebène.
The Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, opened the interactive session in presence of the Financial Secretary, Mr Dharam Dev Manraj, the Chief Executive Officer of the Economic Development Board (EDB), Mr Ken Poonoosamy and other personalities. Key representatives of the private sector and public institutions participated in the interactive session.
The event, an initiative of the Ministry of Finance, Economic Planning and Development and the EDB, is in line with Government’s strategic vision to strengthen public-private dialogue about COVID-19 challenges impacting the various sectors of the economy.
Dr Padayachy pointed out that a continued and efficient dialogue between the public and private sector is key to support Government’s economic recovery plan. He announced that his Ministry is working towards the setting up of a Joint Public-Private Committee to institutionalise exchanges and monitor issues faced by businesses while highlighting that once every three months, a meeting will be held to further consolidating public-private dialogue.
He indicated that the effective roll-out of vaccines in the country and the phased reopening of borders on 15 July 2021 and 01 October 2021 are determining factors that will help sustain the economic recovery plan. The visit of officers from the Financial Action Task Force (FATF) to Mauritius will be yet another key element for the country to be de-listed from the FATF list of jurisdictions under increased monitoring.
The finance minister also dwelt on measures stipulated in Budget 2021/2022 with the aim to stimulate investment in the country, shape a new economic architecture, and support the transformation and modernisation of industries which he said will generate more jobs and create more wealth. A growth of 9 % for financial year 2021/2022 is expected, he said.
The creation of a new manufacturing industry, that of vaccine and pharmaceutical production and a new Green Energy Industry, was also highlighted by Dr Padayachy.
Speaking on building a resilient industrial base, he underlined the EDB will set up a Trade Development and Intelligence Cell to operate as a one stop desk for all trade related matters and will introduce an Export Development Programme to improve export readiness of enterprises.
