NEWS & MEDIA
Post-Budget Focus: Section 2 – Economic measures
BM reiterates that we need to prioritise long-term measures over short-term ones if we want the sustainable economic development of Mauritius. In that context, the current challenges faced by some of the pillars of our economy, particularly the manufacturing sector and the cane industry, warrant urgent attention and accompanying measures for the structural transformation of these sectors.
- Export-oriented manufacturing
- The support for the trade promotion and marketing scheme, the services of the Ideas Foundry and the structuring of the Investment Support Programme into a company are well noted.
- The special incentives for mid-market enterprises are also welcome.
BM and its partner members will continue to engage in further collaboration with relevant authorities in order to develop the necessary ecosystem for Mauritius to emerge as an advanced manufacturing location.
This collaboration is essential and urgent to accompany our textile and apparel players towards transforming into or servicing a new breed of on-line companies targeting the millennial customer, as well as a package of measures directed towards attracting high-end brands to choose Mauritius as their sourcing location.
- Local manufacturing
- The announcement of the Food Standards Agency needs to be followed by an acceleration of its implementation, which will enable a level-playing field between locally-produced goods and imports.
BM will pursue the dialogue with Government to ensure that there is a recognition of the local manufacturing ecosystem’s greater multiplier effect, its contribution to the complexification of the economy and the development of manufacturing services as well as being a source of sustainable, reliable and quality supply of strategic products.
- Cane sector
- The support for 60 tons of sugar per planter is noted.
BM believes that there is the urgent need to sustain discussions on the transformation of the sector, namely the cost and revenue-generation measures that have been proposed.
BM and its partner members intend to further engage with the relevant authorities to urgently establish the platform for the implementation of the National Biomass Framework, which has a fundamental importance in the sector’s sustainability.
Please click here to download the Post-Budget Focus: