Changes

The government that took office in July 2005 embarked on a bold economic reform program aimed at moving Mauritius from reliance on trade preferences to global competitiveness. The reform strategy, outlined in the FY 2006-2007 government budget, was designed not only to remedy fiscal weaknesses but also to open up the economy, facilitate business, improve the investment climate, and mobilize foreign direct investment and expertise. The reforms and the opening up of the economy have already started to positively impact the economy. GDP growth increased to 5% in 2006, and the same rate is expected in 2007.  

The government that took office in July 2005 embarked on a bold economic reform program aimed at moving Mauritius from reliance on trade preferences to global competitiveness. The reform strategy, outlined in the FY 2006-2007 government budget, was designed not only to remedy fiscal weaknesses but also to open up the economy, facilitate business, improve the investment climate, and mobilize foreign direct investment and expertise. The reforms and the opening up of the economy have already started to positively impact the economy. GDP growth increased to 5% in 2006, and the same rate is expected in 2007.  

In addition to encouraging the restructuring and modernization of the textile and sugar sectors, the government is putting much emphasis on the development of the ICT sector and the promotion of Mauritius as a seafood hub in the region, using existing logistics and distribution facilities at the Freeport (free trade zone at the port and airport). To further diversify the economic base and generate sustainable growth, the government is actively encouraging the following economic activities: (i) the land-based oceanic industry, (ii) hospitality and property development, (iii) healthcare and biomedical industry, (iv) agro-processing and biotechnology, and (v) the knowledge industry.  

In addition to encouraging the restructuring and modernization of the textile and sugar sectors, the government is putting much emphasis on the development of the ICT sector and the promotion of Mauritius as a seafood hub in the region, using existing [[logistics]] and distribution facilities at the Freeport (free trade zone at the port and airport). To further diversify the economic base and generate sustainable growth, the government is actively encouraging the following economic activities: (i) the land-based oceanic industry, (ii) hospitality and property development, (iii) healthcare and biomedical industry, (iv) agro-processing and biotechnology, and (v) the knowledge industry.  

The business climate is friendly yet extremely competitive. The World Bank 2007 Doing Business Survey ranks Mauritius 32nd in the world and second in Africa for ease of doing business. Mauritius has a long tradition of private entrepreneurship, which has led to a strong and dynamic private sector. Firms entering the market will find a well-developed legal and commercial infrastructure. With regard to telecommunications, Mauritius has a well-developed digital infrastructure and offers state-of-the-art telecommunications facilities including international leased lines and high speed Internet access. Telecommunications services were liberalized in January 2003. The government policy is to act as a facilitator to business, leaving production to the private sector. However, it still controls key utility services directly or through parastatals, including electricity, water, waste water, postal services, and broadcasting. The State Trading Corporation controls imports of rice, flour, petroleum products, and cement.  

The business climate is friendly yet extremely competitive. The World Bank 2007 Doing Business Survey ranks Mauritius 32nd in the world and second in Africa for ease of doing business. Mauritius has a long tradition of private entrepreneurship, which has led to a strong and dynamic private sector. Firms entering the market will find a well-developed legal and commercial infrastructure. With regard to telecommunications, Mauritius has a well-developed digital infrastructure and offers state-of-the-art telecommunications facilities including international leased lines and high speed Internet access. Telecommunications services were liberalized in January 2003. The government policy is to act as a facilitator to business, leaving production to the private sector. However, it still controls key utility services directly or through parastatals, including electricity, water, waste water, postal services, and broadcasting. The State Trading Corporation controls imports of rice, flour, petroleum products, and cement.  

*Financial services: 10.3% of GDP.  

*Financial services: 10.3% of GDP.  

*Trade (2006): Exports--$2.2 billion: textiles and clothing, sugar, canned tuna, watches and clocks, jewelry, optical goods, toys and games, and flowers. Major markets—Europe and the U.S. Imports--$3.7 billion: meat, dairy products, fish, wheat, rice, wheat flour, vegetable oil, petroleum products, iron and steel, cement, fertilizers, machinery and transport equipment, and textile industry raw materials. Major suppliers—South Africa, France, China, India, Bahrain, Finland, U.K., Japan, Australia, and Germany.  

*Trade (2006): Exports--$2.2 billion: textiles and clothing, sugar, canned tuna, watches and clocks, jewelry, optical goods, toys and games, and flowers. Major markets—Europe and the U.S. Imports--$3.7 billion: meat, dairy products, fish, wheat, rice, wheat flour, vegetable oil, petroleum products, iron and steel, cement, fertilizers, machinery and transport equipment, and textile industry raw materials. Major suppliers—South Africa, France, China, India, Bahrain, Finland, U.K., Japan, Australia, and Germany.  

*Fiscal year: July 1-June 30.  

*Fiscal year: July 1-June 30.

==History==

==History==