Budget 2018-19 - ocean economy : bold measures to maximise the ocean’s capacity

In view of maximising the opportunities from the Ocean Economy, Pravind Jugnauth has announced several measures which will also serve as the next avenue for Mauritius import substitution strategy.

The announced measures are:

• Setting up an Ocean Economy Unit  with the  responsibility of preparing a National Ocean Policy Paper;
• To boost up research capacity on the ocean economy , the Mauritius Oceanography Institute and  the Albion Fisheries Research Centre will merge into one single institution;
• An Ocean Observatory e-platform will be developed to support the Marine Spatial Planning Initiative of Mauritius;
• A geotechnical study will be conducted in the extended continental shelf management area of the Mascarene region to explore its potential;
• Introduction of a Group Life Insurance Scheme for registered fishermen to cover any accidents and losses at sea;
• Allow foreign industrial fishing companies to fish in the Mauritian shallow water banks provided they sell all their catch on the local market. This goes in line with the import substitution strategy;
• Introduction of a grant of 60% for the the cost of acquisition of outboard engines and fishing nets, by fishermen cooperatives, up to a maximum of Rs 60,000;
• Registered fishermen will be provided with a free ice box.