Retrospective 2018

The year 2018 has been very rich in events on the economic front, with several projects launched, many MoUs signed, visits of international personalities, among others. News on Sunday recalls the major events of the year. 

January 2018

• A MoU aiming to enhance cooperation in the fields of Micro, Small and Medium Enterprises (MSMEs) and Cooperatives is signed between the Minister of Business, Enterprise and Cooperatives and the Minister of State Administration for Industry and Commerce of the People’s Republic of China.
•  The first harvest of fish from floating cages takes place at the Fisheries Post of Grand River South East.
• Mauritius obtains a concessional loan to the tune of Rs 350 million (USD 10 million) from the Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA), the global platform for international cooperation on renewable energy, for the implementation of solar photovoltaic (PV) projects.  

February 2018

• A Japan Business Mission to Mauritius co-hosted by the Japanese Chamber of Commerce and Industries in South Africa (CCIJ) and the Japan External Trade Organization (JETRO) takes place in Port Louis.
• SME Mauritius Ltd is set up to spur a new air of dynamism to the SMEs.
• An MoU to promote cooperation in the field of renewable energy and energy efficiency is signed between the Ministry of Energy and Public Utilities and the Italian Ministry of Environment, Land and Sea.
• Polytechnics Mauritius Ltd (PML) signs a MoU in the field of tourism and hospitality with HTMI (Hotel & Tourism Management Institute), Switzerland. 
• An MoU aimed at reinforcing bilateral cooperation in education is signed between the Ministry of Education and Human Resources, Tertiary Education and Scientific Research and the Deakin University, Australia. 
• Mauritius ranks 16th out of 167 countries as a full democracy with a score of 8,22 according to the Economist Intelligence Unit(EIU). The country has taken giant leaps ahead of countries such as Spain, the United States and Italy in terms of democracy.

March 2018

• The GS1 Mauritius Ltd, a subsidiary of the Mauritius Chamber of Commerce and Industry, and the SME Mauritius Ltd sign a MoU on the Barcode Registration Scheme for Small and Medium Enterprises (SMEs).
• The Mauritius Standards Bureau (MSB) signs an MoU with the Zambia Bureau of Standards, to promote and facilitate bilateral trade between the two countries through the elimination of non-tariff barriers.
• The Bio Farming Support Scheme with funding of Rs 5 million to provide subsidy on the purchase price of bio inputs to small registered planters is launched at the Mauritius Cane Industry Association in Réduit.
• Mauritius maintains its first position as a “mostly free” economy in Sub-Saharan Africa and ranks 21st out of 180 countries with a score of 75,1 in the 24th Index of Economic Freedom published by the Heritage Foundation. 
• An MoU on development projects across Mauritius in various priority sectors, is signed between the Arab Bank for Economic Development in Africa at the Maritime Resort and Spa in Balaclava. 

April 2018

• The Second International YUVACON Business Conference (Young Udyojak Vikas Abhiyan of India) geared towards enhancing business exchanges and networking opportunities among entrepreneurs across the world, takes place at Le Maritim Hotel in Balaclava.
• Signature of the Country Programming Framework (CPF) for the Republic of Mauritius for the coming four years, which renews the support of the Food and Agriculture Organisation (FAO) to Mauritius in agri-business development and agro value chain, promotion of sustainable agriculture for food security, and sustainable fisheries.
• The inaugural Government-to-Government (G2G) meeting at Senior Officials level between Mauritius and Australia is held in Port Louis to mark the start of activities of the Australia Week Festival.  
• The first round of negotiations on the Mauritius-China Free Trade Agreement (FTA) kicks off at the Maritim Resort & Spa, in Balaclava.  
• Moody’s Investors Service affirms the current Baa1 sovereign credit rating for Mauritius with a stable outlook in its credit opinion report for the country. 
• The National Open Data Portal comprising one hundred datasets encompassing 20 categories is launched in the context of the Open Data Initiative for Mauritius.

May 2018

• Mauritius hosts SIDS Global Business Network Partnership Forum to enable members explore and develop partnership opportunities and exchange know-how and best practices for sustainable tourism development.
• Mauritius hosts an international Conference focusing on the challenges and opportunities of digitalisation for the global tourism industry at Le Meridien Hotel in Pointe aux Piments on the theme ‘Digitalisation and Sustainable Tourism’.
• Mauritius and Madagascar embarks on a new path of bilateral cooperation and expanding the existing collaboration with the establishment of a Joint Permanent Commission Mauritius-Madagascar. 
• Mauritius and Spain gear efforts towards renewing the existing relations which date back to 1979, when diplomatic ties were established between the two countries. 
• Mauritius launches first Cloud Camp, meant to establish a new partnership and which hinges around two pillars - bridging the digital divide and government modernisation.
• The E-Commerce service of the tax free shopping digital portal, an online platform to promote and showcase products of Tax Free shopping operators and handicrafts operators of the Creative Mauritius on a 24/7-hour basis, is launched.  
• Tourism Authority is awarded EUR 1.2 Million under Switch Africa Green Programme.
• The E-Licensing Project, funded by the EU to the tune of Rs 420 million to address key constraints to business facilitation is launched.  
• Mauritius and New Zealand to reinforce collaboration in various economic spheres

June 2018

• Polytechnics Mauritius Ltd (PML) and Microsoft Indian Ocean Island Ltd (MIOIL) sign a MoU in Réduit to promote innovative IT education.
• A Loan agreement for the financing of the first phase of the construction and equipping of the Flacq Teaching Hospital project is signed between the Republic of Mauritius and the Kuwait Fund for Arab Economic Development.
• Kenya Airways starts flights to Mauritius four times weekly from Jomo Kenyatta International Airport, Kenya. 
• The Ambassador of the Kingdom of Netherlands, Mr Jeroen Verheul, pays a courtesy call on the Prime Minister.
• The Macadamia project is launched at FAREI Research Station in Réduit. The objective is to encourage the cultivation of macadamia as an alternative crop for diversification.
• SME Mauritius Ltd launches a specifically designed hologram as a unique identification label to be affixed on all locally manufactured handicraft products.

July 2018

• Mauritius and Kenya sign several MoUs to promote bilateral cooperation in various fields such as development of Special Economic Zones (SEZs) and Export Processing Zones (EPZs) in Kenya.
• IMF team meets the Prime Minister to discuss economic resilience.
• The President of the People’s Republic of China, Mr Xi Jinping, is on a Friendship Visit to Mauritius on 27th and 28th July 2018. The Prime Minister announces that China is providing an additional grant to the tune of 150 million RMB (approximately Rs 750 million) to Mauritius. 
• The Mauritius Housing Company (MHC) Ltd launches a new housing loan product, the ‘Home Sweet Loan’, at an interest rate of 1% for the first year.
• A two-day international conference, focusing on the contribution of Indian Diaspora in nation building in Mauritius, takes place at the MGI, Moka.  

August 2018

• The Mauritius Post launches RIA Money Transfer service facility under its e-commerce strategy.
• The Ambassador designate of the Republic of Turkey, Mr Metin Husrev Unler, pays a courtesy call on the Prime Minister. 
• FAREI launches two new varieties of Green Beans.
• MRA reports revenue collection for year 2017/2018 amounts to Rs 87.5 billion, compared to Rs 76 billion for the year 2016-2017, representing an increase of 15% over the preceding year.
• The SME Employment Scheme, which targets some 1,000 unemployed graduates, is launched.
• Mauritius-China FTA: Third round of negotiations open at the Hilton Hotel in Flic en Flac.
• The Development Bank of Mauritius (DBM) launches six new loan schemes at an interest rate of 3% in favour of Micro Small and Medium Enterprises (MSMEs). 
• Three new varieties of sugarcane released to enhance productivity.

September 2018

• A New National Strategy for Official Statistics for the period 2019 to 2023 is being designed by Statistics Mauritius.  It is expected for release by early 2019.
• Launch of a Grant Scheme for the Purchase of Outboard Engine and Fishing Nets by Fishermen Cooperatives.  
• The population of Mauritius is estimated at 1,265,577, according to Statistics Mauritius. 
• Government agrees to the signing of four MoUs with the Southern African Development Community (SADC), France, Organisation for Economic Co-operation and Development (OECD), and China in view of further enhancing cooperation in various fields. 

October 2018 

• Mauritius gains five places worldwide to take the 20th place among 190 countries in the World Bank’s Doing Business 2019 Report.
• Mauritius remains the top ranking country in overall governance in Africa for the twelfth consecutive year according to the Mo Ibrahim Index of African Governance (IIAG) 2018. 
• The Gravity-Fed Drip Irrigation System, which forms part of the International Atomic Energy Agency (IAEA)-RAF5079 Project, aiming to enhance food security and increase income of vulnerable farmers, is launched in Mauritius.
• The Bank of Mauritius is conferred the Capital Finance International Award for Best Central Bank Governance – Indian Ocean 2018 by Capital Finance International (CFI.co), a London-based magazine.
• Three loan agreements are signed between Mauritius and the Saudi Fund for Development (SFFD) in Port Louis. The loan agreements make provision for financing the construction of three priority projects: The New Cancer Hospital, Social Housing Units and the Multi-Sports Complex.
• The second edition of the Mauritius Cinema Week, under the branding East Meets West, is launched at La Demeure, St Antoine, in Goodlands.
• The National Innovation Framework (NIF) 2018-2030, which aims at creating an ecosystem for innovation to facilitate the transition of Mauritius from a middle-income economy to a high-income innovation driven economy, is launched at Ebène Cyber-city.
• A MoU is signed to reinforce efforts of the SME Mauritius, Business Mauritius, and Association of Mauritian Manufacturers (AMM) for the successful development of Small and Medium Enterprises (SMEs).
• Mauritius and Pakistan express the willingness to reinforce bilateral cooperation in several sectors, as the newly appointed High Commissioner of Pakistan to Mauritius, Dr Syed Rizwan Ahmed, meets the Foreign Affairs Minister in Port Louis.

November 2018

• The Decaen Fly-Over, connecting the Highway to Lord Kitchener Street, is officially opened.
• The Bank of Mauritius maintains its forecast of tourism earnings for 2018 at Rs 64 billion. This figure represents an increase of 6.2% compared to Rs 60.3 billion recorded in 2017. As for the year 2019, tourism earnings are forecasted at Rs 67.5 billion.
• An MoU is signed between SME Mauritius Ltd and Institut de la Francophonie pour l’Entrepreneuriat (IFE), for the implementation of various projects in the field of capacity building for SMEs. 
• Two MoUs are signed at the second edition of the Mauritius-Russia Investment and Trade forum between the Economic Development Board (EDB) and the Moscow Chamber of Commerce and Industry and the Lipetsk Chamber of Commerce and Industry at the seat of the EDB in Port Louis.
• India and Mauritius are keen to conclude negotiations on the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) during the round on the resumption of discussions which took place at the Hotel Sofitel Mauritius L’Impérial Resort & Spa, Flic en Flac.  

December 2018

• The State Bank of Mauritius (SBM) is awarded the Banker’s Bank of the Year Mauritius Awards 2018 for optimum financial performance, leadership and innovation in line to ensuring sustainable growth.
• The Prime Minister announces that the next report of the Pay Research Bureau (PRB) is expected to be released around October 2020 and its recommendations will be effective as from 1st January 2021 and the frequency of publication of the PRB Report is proposed to be maintained to five years. The PRB has already embarked on the preparation of its next Report on the basis of this timeline.
• The Bank of Mauritius issues a polymer banknote of Rs 2,000 denomination. The new banknote has almost the same design as the paper banknote with, however, enhanced security features using new security technology.