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SDG Investor Map

SDG Investor Map - Mauritius 2022

Mauritius
Leveraging Private Capital for
Sustainable Development
SDG-Aligned Investment Opportunities in Mauritius
Introduction
The Economic Development Board (EDB) of Mauritius,
3

The Sustainable
in partnership with the United Nations Development
Programme (UNDP), has prepared the SDG Investor
Map for Mauritius to attract private capital to areas of

SDG Investor Map - Mauritius 2022

high impact on sustainable development.
Development Goals
The Sustainable Development Goals (SDGs) were adopted by the United
Nations in 2015 as a universal call to action to end poverty, protect the planet,
and ensure that by 2030, all people enjoy peace and prosperity.

The 17 SDGs are integrated—they recognize that action in one area will affect
outcomes in others, and that development must balance social, economic and
environmental sustainability.

Countries have committed to prioritize progress for those who are furthest
behind. The SDGs are designed to end poverty, hunger, AIDS, and
discrimination against women and girls.

The SDG Investor Map

• Directs private capital to where it can have the most positive impact on people and the planet while ensuring financial profitability.
• Identifies Investment Opportunity Areas (IOAs) at the intersection of national development needs and policy priorities.
• Provides information on priority sectors where private sector solutions can address development needs at scale.
• Presents evidence, data, and concrete recommendations on viable business models.
• Ensures follow-up, including entry points for public-private financing dialogue platforms which promote private participation in SDG-aligned
public investments.
 Mauritius Factsheet
Mauritius offers attractive investment opportunities as a gateway between Asia
and Africa and provides investors with a predictable and secure environment.

Human Development Index 2022

st rd
1 in Africa 63 Globally
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2022 World Investment Report

Global Competitiveness Index 2019

SDG Investor Map - Mauritius 2022

1 st
in Africa 52 nd
Globally
Among the top 5
SIDS-recipients of FDI Globally

Index of Economic Freedom 2022 E-Government Development Index

1st in Africa 30th Globally 2nd in Africa 75th Globally

2022 Global Innovation Index Corruption Perception Index 2021

st th nd th
Why Mauritius? 1 in Africa 45 Globally 2 in Africa 49 Globally

• A single point of entry for licenses and permits using the

National Electronic Licensing System (NELS)
• Access to the Premium Investor Certificates
• Ease of Access for entry into the Africa Continental Free Trade Area SDG Investor Map Mauritius: https://sdginvestorplatform.undp.org/country/mauritius
• A competitive tax regime For more information: https://www.edbmauritius.org/why-mauritius
Investment Opportunity
Areas per Priority Sectors
Renewable Resources Education 7

and Alternative Energy • Integrated Tertiary Educated Centers

SDG Investor Map - Mauritius 2022

for STEM Disciplines
• Solar Photovoltaics (PV) Farms • Skills Development Services for
• Roof-Mounted Solar PV Installations Industry-Specific Vocational Training
• Biomass Energy Production

Renewable Resources
Infrastructure Services Healthcare
•
•
Solid Waste Management
E-waste Collection, Sorting and Upcycling
•
•
Pharmaceutical Production
Medical Devices Production
and Alternative Energy
• Decentralized Water Treatment and • Medical Tourism Services
Mauritius aims to increase the share of renewable energy sources in the electricity
Supply Systems supply to 35% by 2025, and to 60% by 2030. With robust government incentives for a
• Climate Resilient and Energy Efficient green and carbon neutral industry in place, the availability of feed-in tariff structures and
Social Housing financial incentives on offer, there are lucrative business solutions for the private sector
to generate 15-20% in IRR and cover up to 150% of energy usage.

Services Food and Beverage

Eco-Tourism Developments and Value Chains • Biofertilizer production
• Sustainable Aquaculture Farms
• Seafood Processing
• Cold Chain Infrastructure
Solar Photovoltaics (PV) Farms Roof-Mounted Solar PV Installations
Business Model Business Model
Construct utility-scale solar PV plants connected to the grid and subject to Energy Supply and Purchase Install solar PV panels on the rooftops of public buildings and households as small-scale distributers
Agreement, with the Central Electricity Board (CEB) determining tariff and metering procedures. and commercial facilities as medium-scale distributors. Distributors use generated electricity for own
consumption and inject surplus in the national grid at the determined tariff by the CEB.

Indicative Return Enabling Factors

Indicative Return Enabling Factors
Electricity generated purchase price
Electricity generated purchase price 9

MUR 3.73/kWh MUR 3.73/kWh

SDG Investor Map - Mauritius 2022

($0.083)
15-20% in IRR Solar PV investments 25%
($0.083)

Exempted from VAT in Gross Profit Margin Solar PV investments

Exempted from VAT

Utility-scale projects
Exempted from land conversion tax Utility-scale projects
Exempted from land conversion tax

Payback period
Payback period

5-10
years 6.5
years for >40kWp
Biomass Energy Production
Business Model
• Set up biomass-based power plants.
• Increase the production capacity of current biomass energy plants.
• Contribute to the phasing-out of coal by diversifying organic sources for biomass beyond bagasse.
• Abandoned lands could be used for cultivating alternative crops of biomass listed under the National Biomass Framework
beyond tested alternatives like sugarcane trash and high calorific sugar.

Indicative Return Payback period Enabling Factors 11

10 Biomass will remain the leading

SDG Investor Map - Mauritius 2022

contributor to renewable energy
2030 – 17%
years for a 30 MW

10-15% thermal plant

The National Biomass Framework
bagasse remuneration price
in IRR

MUR 3.5/kWh Infrastructure

($0.08)
Resilient infrastructure systems, urban connectivity and circular
economy principles are key to the climate change and sustainable
economic development strategies in Mauritius. With the target of
upscaling industrial synergies and efficient use of resources, all
recycling activities are now eligible for fiscal and incentive schemes.
Solid Waste Management E-waste Collection, Sorting
Business Model and Upcycling
Provide solid waste management services such as the collection, sorting, treatment and recycling as a
producer responsibility organization (PRO). Business Model
• Set up recycling plants for treating and recycling collected Waste Electrical and Electronic Equipment (WEEE).
• Recover materials (including scarce metal resources, ferrous and non-ferrous metals, and printed circuit boards).
Indicative Return Enabling Factors • Operate as a Producer Responsibility Organization (PRO) and an integral part of envisaged regulation on the
Extended Producer Responsibility (EPR) for WEEE.

Annual Mauritius expenditure on

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waste management
Indicative Return Enabling Factors
MUR 1.5 billion

SDG Investor Map - Mauritius 2022

20-25% Annual Mauritius expenditure on
waste management

MUR 1.5 billion

in Gross Profit Margin.
Government Programme
2020-2024 aims
•

•
Introduction of a national waste
management system.
Centering solid waste management on PROs
25%
in Gross Profit Margin
and Extended Producer Responsibility (EPR).
Government Programme 2020-2024
Introduction of a national waste management
system.
2019-2020 Budget
Recycling activities categorized as manufacturing
Payback period activities, allowing them to take advantage of fiscal
2019-2020 Budget
All recycling activities categorized as

5-10
and other incentives.
manufacturing activities, allowing them to take
advantage of various fiscal and other incentives.
Payback period
years for >40kWp

5-10
years for >40kWp
Decentralized Water Treatment Climate Resilient and Energy
and Supply Systems Efficient Social Housing
Business Model Business Model
Construct and operate individual or collective decentralized water treatment and supply • Build climate-resilient and energy efficient social housing units for low-income households.
systems, such as rainwater harvesting for households and companies, and ensure a • Rehabilitate existing social housing estates as part of national smart city efforts, with the aim of cost-effective power supply,
continuous access to water. waste reduction, and effective resource management.

Indicative Return Enabling Factors Indicative Return Payback period Enabling Factors 15

SDG Investor Map - Mauritius 2022

Development Bank of Mauritius Line of credit (LOC) from India to Mauritius
Rainwater Harvesting System Loan
Scheme for households.
Up to USD 190 million
MUR 50,000
years

25% in IRR
3% rate
Repayment up to 5 years
20-25% in IRR
Roof Slab Grant Scheme
Provides financial assistance to low-income families for
the casting of roof slabs or the purchase of material.

Technology and Innovation

Scheme (TINNS)
• Grants to SMEs in their
sustainable transition.
• 80% of total costs up to a maximum of
Payback period MUR 150,000.
• Specific provisions for young (under 29)

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and women entrepreneurs, including for
water treatment mechanisms.

years
 Eco-Tourism Developments and Value Chains
Business Model
• Construct and operate hotels and resorts with eco-tourism practices relying on local value
chains, including organic food, agri-tech, reduced energy usage and improved waste circularity.
• Diversify tourism operations around cultural and natural offerings with links to local communities
and in areas such as inland natural leisure parks, reserves for coral and mangrove protection,
endemic forests, and bird sanctuaries.

Indicative Return Payback period Enabling Factors 17

5-10 Tourism Industry

SDG Investor Map - Mauritius 2022

>25% of GDP
Well-developed hotel infrastructure

>13%
years for >40kWp
Flight Routes
• Established with Turkey, France, and
million dollar (p.a.) UK, among others.
for large hotel groups. • Diversification outside Africa.

Invest Hotel Scheme

Enables hotel developers and owners to sell
hotel rooms to individuals as an alternative model
of financing.

Services
Mauritius aims to increase tourist arrivals from 1.3 to 2 million
annually by 2030. With more than 3 out of 4 consumers
concerned about sustainability, investment in eco-tourism
can offer significant returns and create employment
opportunities for local communities in a green economy.
 Integrated Tertiary Education
Centres for STEM Disciplines
Business Model
• Provide higher education in science, technology, engineering and mathematics (STEM) fields for
domestic and international students.
• Integrate institutions and educational infrastructure with student housing, workplaces and
leisure facilities.
• Enhance student mobility and employability.

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Indicative Return Payback period Enabling Factors

SDG Investor Map - Mauritius 2022

5-10
Internationally recognized private
universities setting up in Mauritius
3% corporate tax rate.

years

10-25%
Construction and expansion of
student campuses
Exempted from land transfer tax and
in Return on Equity registration duty.

Education Smart City Scheme

Those operating / constructing private tertiary
institutions are exempted from several taxes,
including income and corporate.
The tertiary enrollment rate in Mauritius is expected to rise to 60% by 2030 and
students from Africa are now the most mobile tertiary students worldwide. Mauritius
aims to be the premier education hub in Africa, leveraging the capacity of its bilingual
population and as a leader in internet connectivity and digital transformation in Africa.
The upskilling and higher education initiatives are supported by investments in urban
connectivity and integrated infrastructure combining recreation, accommodation,
and learning.
Skills Development Services for
Industry-Specific Vocational Training
Business Model
• Develop and operate vocational and technical skills development centres.
• Upgrade skills aligned with the key industries’ needs and requirements, especially for healthcare, tourism, ICT, agriculture
and finance.
• Offer subscription-based trainings or direct training delivery.
• Build partnership with existing organizations and corporates.
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Indicative Return Payback period Enabling Factors

SDG Investor Map - Mauritius 2022

25%
5up to five years
Skills Development Support
Scheme for FDI
Reimburses up to 80% of the cost of
training provided to employees by
foreign investors.

in Gross Profit Margin Mauritius Training Fund

Incentivizes on-the-job training.

Healthcare
Healthcare and tourism industries
New initiatives to diversify service offerings to
stimulate upskilling of local personnel.

Investors in healthcare and hi-tech manufacturing of pharmaceuticals

Upcoming Education Hub in can scale up investments in Africa with Mauritius serving as a hub for
Côte d’Or value addition to the pharmaceutical and medical devices value chain.
Attracts public and private training facilities. Corporates will enjoy several benefits, including attractive tax holidays
of up to eight years, and can establish operations at the dedicated
manufacturing zone at the Life Sciences Park at Rose Belle.
Pharmaceutical Production Medical Devices Production
Business Model Business Model
• Manufacture pharmaceutical products in solid, semi-solid, liquid and other dosage forms, including powders, Design and manufacture of medical devices such as catheters, medical balloons and stents.
aerosols and ophthalmic eye / ear / nasal drops to serve national and regional markets. These are competitive across global markets.
• Leverage on the country’s access to African Continental Free Trade Area (AfCFTA) and preferential trade
areas in the region, including SADC and COMESA.

Indicative Return Enabling Factors

Indicative Return Enabling Factors Fiscal & Freight Incentives
• 8-year income tax holiday. 23
• Duty-free and VAT free on goods
Mauritian membership of SADC and COMESA and equipment into Freeport
Duty-free access provided the rules of origin are met.

SDG Investor Map - Mauritius 2022

zones.
• Exemption from corporate tax.

>25% • Tax incentives for R&D.

8-10% Fiscal and freight incentives • Sea freight rebate scheme (up to
• Tax holiday of eight years. in Gross Profit Margin 25% of basic costs) for exports.
• 3% corporate tax on profits derived from exports.
in IRR • Investment tax credit for investment in
hi-tech manufacturing.
• Air and sea-freight rebates on exports for new companies
involved in the manufacturing of pharmaceuticals.

Payback period

5-10
Payback period

5-7
years provided final products
meet international requirements
years

for manufacturing units.

Medical Tourism Services
Business Model
• Establish and operate private hospitals or clinics providing high-quality healthcare services to Mauritians and patients from
Sub-Saharan Africa.
• Leverage on the cascading effect that medical tourism will bring to other sectors and the region, with positive spillovers
through treatment in cardiology, eye treatment, oncology and geriatrics.

Indicative Return Payback period Enabling Factors

About Private Sector 25

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Caters for 27% of health needs.

SDG Investor Map - Mauritius 2022

VAT Exemption

>25%
in Gross Profit Margin
years •

•
On construction of private hospitals/clinics
and residential care homes.
On medical, surgical and dental equipment.

Foreign Ownership
Companies incorporated in Mauritius are
permitted to have 100% of foreign ownership. Food and Beverage
Mauritius has an attractive business environment with a wide array of incentives
Visitor Medical Visa to promote investment in sustainable food and beverages production as an
Allows foreign patients to come to Mauritius emerging sector. This can provide attractive returns on investment and help
for treatments. reduce food security vulnerabilities.
Biofertilizer Production Sustainable Aquaculture Farms
Business Model Business Model
Production of biofertilizers based on living micro-organisms, such as phosphate solubilizing Set-up and operate sustainable aquaculture farms to cultivate species including red drum, sea bass, sea bream, and
bacteria, to be used in seed, root and soil treatment as local agri-inputs. invertebrates such as oysters or sea cucumber.

Indicative Return Enabling Factors Indicative Return Payback period Enabling Factors
Bio-farming Scheme
Income tax holiday for 8 years

10 Exclusive Economic Zone

2.3 million km2

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SDG Investor Map - Mauritius 2022

10% VAT exemption
>25%
years
On production equipment and inputs,
including bio-fertilizers Joint Management Area
EBITDA margin in Return on Investment Mauritius and Seychelles share the world’s largest jointly
managed maritime zone (396,000 km2).
Loan facilities
Up to 90% of the project value with
1% interest rate Fiscal incentive for investments in aquaculture
8-year tax holiday.

Compost Subsidy Scheme

30% vouchers for compost purchase Canotte scheme
Payback period • Grant of 50% of cost of fishing vessel (Canotte)
up to MUR 200,000.

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• Loan of up to MUR 200,000 (3% p.a.).

years
Seafood Processing Cold Chain Infrastructure
Business Model Business Model
• Set up seafood processing facilities for product development in sustainably sourced fish such as fish loins, sashimi- Build cost-effective cold warehousing facilities with high infrastructure connectivity for storage of processed
grade fish, and ready-to-eat products, particularly from pelagic species, including sustainably sourced tuna. frozen food that will be either exported, re-exported, or are imported for use in the domestic market.
• Integrate circular recovery technologies to processing facilities, including plants for fishmeal and fish oil production
from solid fish-waste, such as tuna heads, offal, skin, and bones.

Indicative Return Enabling Factors

Indicative Return Enabling Factors Fiscal Incentives for Seafood processing
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• 3% VAT and Customs duty exemption.
Fiscal Incentives for Seafood processing • Applicable to companies engaged in storage
Companies are exempted from import duties on and distribution of dry and cold products,

SDG Investor Map - Mauritius 2022

equipment or raw materials. storage, packaging and distribution of fruits and

>25% vegetables, and promotion and distribution of

food products.

5-10%
in Gross Profit Margin
Preferential Market Access
Mauritius holds preferential market access to the EU,
USA and regional markets.
in Gross Profit Margin •

•
All goods imported into Mauritius Freeport are
duty and VAT exempted.
Corporate tax of 3% for companies operating in
Mauritius Freeport.

Exclusive Economic Zone Preferential Market Access

• 50% of the cost of purchasing and installing
2
2.3 million km Payback period •
solar-powered cool rooms (up to a maximum
of Rs 400,000).
Applicable to registered planters farming on a
Payback period minimum of one hectare of land.

5-10
years
7 years
Potential Investment
Opportunity Areas 31

SDG Investor Map - Mauritius 2022

Several business models with the potential of attracting investments and
achieving sizeable market depth alongside a positive social and environmental
impact have not been involved in the SDG Investor Map Mauritius.

These business areas will be monitored for a prospective update of the list of
IOAs presented on the SDG Investor Platform.

These Potential Investment Opportunity Areas include:

• Industrial Symbiosis of Wastes including Glass, Textile Fabric and Fish Waste.
• E-learning Platforms.
• Organic Farming.
• Energy Efficiency in Real Estate and Industrial Development.

All rights reserved. Any use of information, in full or in part, should be accompanied by an
acknowledgement of Economic Development Board and UNDP Mauritius.
© 2022
SDG Investor Map - December 2022