A formal organization overseen by the Prime Minister’s Office was founded in 2017 as the Economic Development Board (EDB) of Mauritius. Fostering economic growth and promoting Mauritius as a top location for investments is its main goal. The EDB is in charge of formulating and putting into action policies and strategies that promote economic expansion, increase competitiveness, and provide long-term employment for Mauritius’s citizens.
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The three broad categories of the EDB’s duties are business facilitation, export promotion, and investment promotion.
Investment promotion
Bringing in foreign direct investment (FDI) to the beautiful nation of Mauritius is one of the EDB’s main duties. To find and promote investment possibilities in a variety of industries, including ICT-BPO, financial services, manufacturing, tourism, real estate, and renewable energy, are their goal. They achieve this by collaborating closely with both domestic and foreign investors. The EDB offers thorough information to investors on the investment laws, regulations, tax breaks, and other assistance programs that Mauritius has to offer. The board also offers investors advice on company registration, employment licenses, and other legal and administrative processes to help them start their firms.
Export promotion
Promoting Mauritius exports is one of the EDB’s other key responsibilities. To find potential markets and investigate new export opportunities, the agency collaborates closely with regional exporters. Additionally, the agency offers market research, help with product development, and other forms of assistance to exporters to increase their competitiveness in the international market. To promote Mauritius goods and services, the board also takes part in international trade shows and exhibitions.
Business facilitation
In Mauritius, the agency is essential in easing corporate operations. To create a seamless and effective business climate, the board collaborates closely with numerous governmental bodies. For all of their inquiries and worries regarding conducting business in Mauritius, the agency offers investors and firms a centralized point of contact. The agency also provides a range of business assistance services, including financing, business incubation, and technology transfer.
In addition to these main duties, the agency also engages in many other endeavors to promote Mauritius’s economic growth. Among these activities are:
Skills development
The EDB works with numerous training facilities to advance expertise and understanding in fields essential for economic development. To help students, business owners, and professionals improve their skills and employability, the board provides training programs and scholarships.
Research and innovation
To encourage the development and transfer of knowledge, the EDB funds research and innovation initiatives across a range of industries. The board collaborates closely with businesses, universities, and research organizations to promote innovation and create fresh goods and services.
Public-Private Partnerships (PPPs)
To stimulate private sector involvement in the construction of public infrastructure projects like airports, seaports, motorways, and power plants, the EDB encourages PPPs. To discover and develop PPP prospects that are advantageous to both the public and private sectors, the board collaborates closely with some government agencies.
Sustainable development
The EDB encourages businesses to adopt environmentally friendly practices and make investments in renewable energy to support sustainable growth. To create policies and plans that promote sustainable development and guarantee the preservation of the nation’s natural resources, the board closely collaborates with a variety of stakeholders.
Summary
To summarize, the Economic Development Board (EDB) of Mauritius is an indispensable organization for promoting economic expansion and bringing international money into the country. The board’s primary functions include facilitating business, encouraging investment and exports, and attracting foreign direct investment. The board is active in several initiatives to support economic growth and generate long-term employment prospects for Mauritius citizens, including skill development, research and innovation, public-private partnerships, and sustainable development.
