- Home
- News On Sunday
- News
- BOI goes aggressive
BOI goes aggressive
- By Sobhanund Seeparsad
- Published 18th April, 2008
- News
- Unrated
Sobhanund Seeparsad
Editor of News On Sunday. Did university studies in the UK and India. Holds an MA , BA (Hons), BCom, PGCE, PCCGE, Diploma in Journalism (IPI-Zurich). Worked in Nairobi and Mumbai. Was chief Sub Editor Indian Express Group of Papers in 70s. Author: Effective Notes on Milton Paradise Lost BK IX (1963); Granper Rakont Nu Enn Zistwar (1998). Also acted in many short and feature films, including popular TV serial C'est La Vie. Tells a folk story in Bhojpuri on MBC radio daily.
View all articles by Sobhanund Seeparsad
The paper that is read by millions around the world, particularly by high-end investors and promoters, begins by introducing Mauritius as an important bridge between Africa and Asia.
It also talks about the country’s cultural diversity and as a model of multi-cultural co-existence “where communities mostly keep to themselves in matters such as marriage, the public sphere is generally marked by civility” and where “differences have not manifested themselves in prolonged unrest,” writes correspondent Sharmila Devi.
The paper also talks of the country liberal banking policy that has contributed to the growth of the economy. Tony Hawkins, who looks at reform, licensing and the eastward shift of economic power, says the country’s liberal policy regime - no capital controls, a floating, but relatively stable currency, an attractive tax regime and a large number of Double Taxation Avoidance Agreements - give it the edge over larger and stronger financial sectors, such as South Africa’s, still locked into exchange controls, with a volatile currency and a Government pre-disposed to interfere.
The paper highlights
the opportunities that exist in different sectors - tourism, textiles, real estate, to quote a few - and the growing links with India and China that “plans to invest $700m in a range of industries that will create 40,000 new jobs, generate foreign currency earnings and transfer technology to Mauritian workers and companies.”
In an interview, the Prime Minister, Dr Navinchandra Ramgoolam, says the per capita income will surpass $ 7000 this year, gross domestic product is expected to grow 7 %, and FDI is expected to touch $444 m or more.
A large part of the report is devoted to IRS projects aimed at boosting international interest in property. The managing director of BOI, Raju Jaddoo, says BOI has approved 10 projects, representing 3500 units. High prices and careful approvals are intended to prevent flooding of the market.
“We are promoting aesthetic beauty while at the same time retaining our cachet and reputation for hospitality,” says Jaddoo.
The whole FT special report presents a full picture of Mauritius - at least all that an investor needs to know to make informed decisions. It was published on Wednesday March 12, 2008. It can be viewed on FT's website.
It also talks about the country’s cultural diversity and as a model of multi-cultural co-existence “where communities mostly keep to themselves in matters such as marriage, the public sphere is generally marked by civility” and where “differences have not manifested themselves in prolonged unrest,” writes correspondent Sharmila Devi.
The paper also talks of the country liberal banking policy that has contributed to the growth of the economy. Tony Hawkins, who looks at reform, licensing and the eastward shift of economic power, says the country’s liberal policy regime - no capital controls, a floating, but relatively stable currency, an attractive tax regime and a large number of Double Taxation Avoidance Agreements - give it the edge over larger and stronger financial sectors, such as South Africa’s, still locked into exchange controls, with a volatile currency and a Government pre-disposed to interfere.
The paper highlights
In an interview, the Prime Minister, Dr Navinchandra Ramgoolam, says the per capita income will surpass $ 7000 this year, gross domestic product is expected to grow 7 %, and FDI is expected to touch $444 m or more.
A large part of the report is devoted to IRS projects aimed at boosting international interest in property. The managing director of BOI, Raju Jaddoo, says BOI has approved 10 projects, representing 3500 units. High prices and careful approvals are intended to prevent flooding of the market.
“We are promoting aesthetic beauty while at the same time retaining our cachet and reputation for hospitality,” says Jaddoo.
The whole FT special report presents a full picture of Mauritius - at least all that an investor needs to know to make informed decisions. It was published on Wednesday March 12, 2008. It can be viewed on FT's website.
