The measures proposed by Mauritius Finance for the next Budget are mainly focused on two, or even three axes. The idea is to allow these to make a real difference for the sector.
Ease of doing business and tax certainty
Mauritius faces significant challenges when it comes to ease of doing business, particularly delays in obtaining permits from regulatory bodies and lack of tax certainty. Historically, the country's competitiveness has been based on these factors, but the lack of streamlined processes and clear tax policies has led businesses to consider leaving Mauritius. To maintain existing companies and attract new ones, it is imperative to address these issues.
Human capital
The financial services sector in Mauritius faces a significant challenge: attracting and developing local talent while retaining qualified professionals and attracting expatriate professionals. There is a brain drain and high turnover among financial services professionals, leading to a shortage of experienced candidates.
Promotion of the Mauritian international financial center
Position Mauritius as a sustainable and impact investment hub for Africa, which is expected to reach $30 trillion in the near future. This will also accelerate Mauritius' transition to an environmentally sustainable economy by introducing new products and services as well as relevant legislation and frameworks.
