Cementing ties with Mauritius
STABLE governance, strong institutional frameworks, an investor-friendly regulatory environment, excellent educational facilities and a solid banking and financial infrastructure were some of the attributes listed by the Mauritian government in wooing more South African businesses into trade and investment.
Speaking at a business forum in umhlanga last week, Arvind Radhakrishna, strategic adviser at the Economic Development Board Mauritius, said the island nation was a favoured destination for South Africans, with a strong expatriate community there.
The fact that Mauritius was ranked first in Africa according to the World Bank Ease of Doing Business Report in 2020 meant that it was a competitive and attractive jurisdiction for the international investor community, he said.
Among the manufacturing opportunities listed were in the pharmaceutical and medical devices, electronics, Green technologies, automotive, textile and apparel and jewellery.
Zanele Khomo, chief growth officer at the Durban Chamber of Commerce, said they were encouraged by the invitations of countries to be part of ventures that contributed towards the development and sustainability of businesses through investments.
Khomo said the clothing and textile industry was an area that needed a lot of attention.
“South Africa in the past years has been affected negatively in this sector.
“Ideally we would like to see a complete turnaround and have more locally produced textiles, to empower businesses and people,” she said.
With the port of Durban being the country’s biggest and busiest commercial gateway that has a direct link to Port Louis in Mauritius, Khomo said they could ensure the smooth sailing of goods for import and export.
“As the Durban Chamber, we encourage a collaborative relationship which will be strengthened by signing a memorandum of understanding.”
The KZN International Business Association (Kiba) hosted former Mauritian vice-president Barlen Vyapoory earlier this month to express interest in trade and investment.
Kiba president Omie Singh said the association’s members were in search of new opportunities and markets.
“We could look at importing skills and product from the island and certainly look at exporting our goods and resources to Mauritius,” said Singh.
He said the association would visit Mauritius next month to establish new networks, and set up corporate structures for business with prospective partners.