Mauritius: New Policies to Further Transform Mauritius Into a Sophisticated International Financial Centre

press release

Government has taken bold and proactive measures, and is continuously devising new policies to further transform Mauritius into a sophisticated and attractive International Financial Centre (IFC). In this perspective, industry associations such as Association of Trust and Management Companies (ATMC) are incontestable stakeholders in Government's developmental agenda.

The Minister of Financial Services and Good Governance, Mr Mahen Seeruttun, made this statement, on 29 November 2019, at Indra restaurant in Domaine Les Pailles, where he met members of the ATMC, who are key financial sector stakeholders. He also took the opportunity to give an overview of his Ministry's priorities so that Government and the industry can, together, deal with challenges and prospects ahead.

These priorities, highlighted the Minister, include capacity building in the financial centre; fostering close collaborative links with stakeholders, both locally and abroad; maintaining Trust in the Mauritius IFC; and raising the profile, prominence and visibility of the Mauritius brand in the region and the international marketplace. They also comprise enhancing the business-friendly and ease of doing business environment, as well as laying fast track routes and introducing innovative products and service lines.

Mr Seeruttun further dwelt on the importance of the Ministry of Financial Services and Good Governance as well as the Financial Services Commission to establish open lines of communication with the private sector and promote constructive consultations. He added that more innovative products, which are a critical requirement for growth, have to be delivered at reasonable pace so as to remain competitive across every aspect of global business. He also reassured Government's commitment to provide a conducive environment for the private sector to take full advantage of the opportunities that lie ahead.

Furthermore, the Minister underlined that businesses and investors should come our way because the Mauritius brand is synonymous to the rule of law, to clarity and consistency in local laws and regulations, to rigour in supervisory process and to high standards of integrity. He expressed his belief that a national brand would have best influence and impact if all stakeholders work together around a national reputation strategy.

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