Balaclava, Mauritius - Foreign direct investments in Mauritius in 2010 exceeded about US$ 407 million (12 billion rupees), the Mauritian Minister of Finance, Pravind Jugnauth, said Thursday during the celebration of the 10th anniversary of the Board of Investment (BOI). Jugnauth said the BOI had contributed enormously in the last decade to diversifying the Mauritian economy and improving the business climate. 'Mauritius is now ranked 20th out of 183 countries by the Doing Business. This success must act as a catalyst for BOI in the pursuit of its mission with renewed vigor and in accordance with the vision and the government economic agenda,' he said.

The minister stressed that BOI’s mission was very important in a highly unpredictable global economic climate since the economic and financial crisis that has affected the traditional markets of Mauritius.

According to him, Mauritius is not immunized against natural disasters and is already feeling some of these external shocks.

'The present global situation calls for a review of our economic strategy,' Jugnauth said, adding that foreign direct investments remained the true driving force of economic growth for a small economy like that of Mauritius.

'We must promote and encourage these investments, increase the local investment and constantly diversify our economy by encouraging the setting up of enterprises for export,' he stressed.

Pana 18/03/2011