Preliminary gross direct investment flows for the first semester of 2021 were released by the Bank of Mauritius on October 27. The data show a continuous drop in the level of foreign investment in Mauritius since March 2020. Will the decline in foreign investment affect Mauritian growth expectations for 2021?
The preliminary gross direct investment flows data of the Bank of Mauritius clearly shows the dependency of Mauritius on travel and tourism. In Mauritius, gross direct investment flows have been estimated at Rs 4,416 million for the first semester of 2021 compared to Rs6,451 million for the same corresponding period of 2020. The ‘Real estate activities’ sector accounted for nearly 79 percent of the total gross direct investment for the period under review. Rs2,260 million was received under IRS/RES/IHS/PDS/SCS1 and other types of property schemes. The ‘Accommodation and food service activities’ sector recorded significant inflows of Rs533 million in 2021, and more than half of the gross inflows emanated from Europe.
However, the economy has shown strong signs of resilience and recovery since March 2021. According to Statistics Mauritius, investment (Gross Fixed Capital Formation) has increased by 123% in the second quarter of 2021 compared to a contraction of 1.7% in the first quarter of 2021. The 123% resulted from a considerable increase in the “Building and Construction” (320%) sector and Machinery and Equipment (38%).
Upgraded polymer banknotes with new Security Feature for Rs25 and Rs50 denominations
The Bank of Mauritius announces the issue of upgraded polymer banknotes of Rs25 and Rs50 denominations with the incorporation of a new security feature, the “GeminiTM”, which is a dual fluorescent feature visible under UV light.
The upgraded banknotes with the new security feature will be issued as from Friday 29 October and will be legal tender concurrently with the existing current family of banknotes.
