Mauritius is reaffirming its commitment to sustainable ocean-based development with the establishment of a dedicated Blue Economy Unit, announced the Minister of Agro-Industry, Food Security, Blue Economy and Fisheries, Dr Arvin Boolell, during a press conference held, today, at the seat of his Ministry in Port Louis, alongside Junior Minister, Mr Fabrice David.
Minister Boolell underlined Mauritius' unique position as an Ocean State and a Small Island Developing State with vast ocean territory--an invaluable asset and a vital economic pillar. "The blue economy offers immense opportunities and we must seize every one of them," he said.
To spearhead this effort, a Blue Economy Unit will be set up under the leadership of Dr Sundy Ramah, Scientific Officer. This Unit will collaborate with regional and international partners to steer the development of the blue economy. Minister Boolell pointed out that the European Union will allocate some Rs 4.5 million for consultancy services to support the initiative.
A Strategic Plan for the blue economy is also in the pipeline, and an Expression of Interest will be launched shortly. Additionally, workshops are scheduled for November, alongside a logo design competition. Exchange visits are scheduled to Seychelles, which according to Minister Boolell, is a frontrunner in blue economy development.
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Legislative support will follow with a dedicated Blue Economy Bill to be drafted once the Unit is operational, with a legal framework expected by November.
On the financial front, Dr Boolell announced the proposed introduction of Biodiversity Bonds and Blue Bonds, in partnership with the Bank of Mauritius and the Stock Exchange of Mauritius, to design a robust framework and identify bankable projects. He recalled the strategic importance of port development in unlocking the potential of ocean-based sectors.
Highlighting broader sustainability goals, Minister Boolell urged the youth to "return to the land and the sea," encouraging them to embrace smart agriculture, organic farming, and the full utilisation of prime agricultural land to enhance food security.
Speaking on the same occasion, Junior Minister Fabrice David reiterated the vast potential of the blue economy, stating that our ocean territory is more expansive than our land mass. He stressed the importance of sectors including sustainable fishing, renewable marine energy, maritime commerce, marine biotechnology, ocean finance, and innovation in the development of the blue economy.
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He acknowledged that Seychelles is ahead of Mauritius in the blue economy sector but affirmed our resolve to build a strong and inclusive blue economy. A legal consultant will soon be engaged to draft the Blue Economy Bill, aligning Mauritius' legislative environment with its sustainable development vision.
