Mauritius attracts Rs 10.6 billion in Foreign Direct Investment ...


Mauritius attracts Rs 10.6 billion in Foreign Direct Investment ...

During the first three quarters of 2016, Foreign Direct Investment has amounted to nearly Rs 10,6 billion (over US$ 286 m), compared to Rs 7,2 billion for the corresponding period in 2015, representing an increase of 46,8%. Over 69% (Rs 7,5 billion) have been represented by Real Estate activities, of which over 6,3 billion was invested in IRS, RES and IHS, ie non-resident property schemes and developments. 
Ken Poonoosamy of the Board of Investment adds : "An analysis of FDI inflows for the period January to September over the past 10 years shows that investments received for this year are the highest on record, a very good sign for the economy. These figures also indicate a positive trend in FDI inflows, a promise that the current year will be excellent, since the fourth quarter is usually more dynamic in terms of capital flows.
In fact, the Board of Investment anticipates FDI inflows for 2016 to exceed MUR 14 Billion, prior to the computation of re-invested earnings which will further prompt readjustments in the figures upward, following the completion of the Foreign Assets and Liabilities Survey (FALS) by the Bank of Mauritius. "

FDI inflows are more or less balanced between developed and developing economies at MUR 5,665 billion and MUR 4,927 billion, respectively. The top 3 FDI sources are France, China and South Africa.
Sales of RES and IRS units have significantly dropped in 2016 : 131 RES units and 68 IRS units sold in 2016 compared to 187 RES and 157 IRS in 2015. 42% are French, 20% South-African, 10% British, 8% Mauritian, 3% Swiss and 3% Belgian. In total, 1996 buyers have acquire a property in one of the non-citizens schemes (IRS, RES and PDS).

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