Mauritius was ranked first among the African countries and 39th worldwide in Forbes’ 139 best countries to do business 2017 list. According to Forbes, Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China.
The factors taken into account for the listing are property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. The list also indicates gross domestic product (GDP), GDP per capita and the balance of trade as a percentage of GDP, indicating the balance between imports and exports.
According to Forbes, Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. “Investment in the banking sector alone has reached over $1 billion. Mauritius’ textile sector has taken advantage of the Africa Growth and Opportunity Act, a preferential trade program that allows duty free access to the US market, with Mauritian exports to the US growing by 40% from 2000 to 2014.”
The report says Mauritius’ sound economic policies and prudent banking practices helped to mitigate negative effects of the global financial crisis in 2008-09. GDP grew in the 3-4% per year range in 2010-14, and the country continues to expand its trade and investment outreach around the globe. Growth in the US and Europe fostered goods and services exports, including tourism, while lower oil prices kept inflation low in 2015.
Source: SA Magazine