Mauritius To Create CyberCity

by Lorys Charalambous, Tax-news.com, Cyprus

14 December 2001

While on a visit to India, Mauritius economic development minister Sushil Khushiram has announced an IT initiative under which the Indian Government will provide a credit line of $100m to finance the creation of a cyber-city on a 300-acre site in central Mauritius. Mr Khushiram said that companies setting up in the zone would be offered a zero-tax environment.

The fund would also be used to develop telecommunication and IT infrastructure in order to create a hub to provide IT solutions and services in Africa and South-east Asian countries. Besides, as many Mauritanians speak French, Khushiram said, Indian IT companies could use the country to enter French-speaking markets. The government has also started a university dedicated to offering higher studies in the IT sector.

Responding to questions about recent allegations of financial scams, Mr Khushiram said that the government has set up a Financial Services Commission which became operational from December 1, 2001. Besides regulating overseas financial services, he said the Commission would also coordinate the sharing of information with other regulators like the Reserve Bank of India.

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