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South African Investors Keen On Mauritius

by Lorys Charalambous, Tax-News.com, Cyprus

22 August 2006


South Africa have expressed keen interest in doing business in Mauritius, according to Mauritian Deputy Prime Minister and Minister of Finance and Economic Development, R. Sithanen.

The Minister spoke after his recent return from a promotional trip to South Africa, accompanied by a delegation of Mauritian businessmen and members of the Board of Investment.

Sithanen said he met with a "good response" from major South African investors attracted by Mauritius's low taxes and open economy, among them FirstRand Merchant Bank who have expressed an interest in the insurance sector.

Other substantial investors showing an interest in Mauritius are Investec and Standard Bank, both of which already have operations in Mauritius and wish to broaden the scope of their investments there.

Sithanen also said that South African investors are ready to invest across a variety of economic sectors, for example hospitality, leisure, property development, land based oceanographic industry, aquaculture, textile and ICT.

"Foreign investment will help to restructure the economy, bring experience and innovation in several sectors," the Minister stated.

The government, he said, also intends to capitalise on the 2010 football World Cup, which will be held in South Africa.


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