Business Mauritius presents Budget 2023-2024 proposals to Minister Padayachy

Mauritius: Business Mauritius, the coordinating body of around 1,200 local businesses, came forth with its proposals for the upcoming Budget 2023-2024 during a meeting with the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, yesterday in Port-Louis.

Business Mauritius presents Budget 2023-2024 proposals to Minister Padayachy
Business Mauritius presents Budget 2023-2024 proposals to Minister Padayachy Image credit: Mauritius facebook page

Mauritius: Business Mauritius, the coordinating body of around 1,200 local businesses, came forth with its proposals for the upcoming Budget 2023-2024 during a meeting with the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, yesterday in Port-Louis.

The President of Business Mauritius, Mr Jean-Pierre Dalais, the Chief Executive Officer, Mr Kevin Ramkaloan, the Financial Secretary, Mr Dharam Dev Manraj, as well as other personalities, were present during the meeting.

Advertisement

In a statement, Mr Dalais highlighted that the consultations with the Finance Minister and his team were very productive. He observed that the restart of business activities post-COVID-19 was positive, especially in the tourism sector.

A vision with set priorities, he stated, can bring the country back to its previous position prior to the impacts of the pandemic. “We hope for increased growth in the economy within the next few years”, he said.

Several priority sectors were identified during the meeting. They comprise: sustainability; financial services; health and pharmaceutical services; Small and Medium Enterprises (SMEs); and renewable energy and energy production, amongst others.

Mr Dalais also spoke of much-needed reform in the labour sector while underlining the importance of Mauritian talents to attract more investment opportunities and propel the economic development of the country to new heights.

“Retention of the local labour force should be the priority so as to enable Mauritius to position itself as an international marketplace”, stated Mr Dalais.

In addition, he stressed the need to establish an attractive tax system so as to improve the country’s competitiveness vis-à-vis foreign investors. Speaking on the importance of renewable energy, he pointed out that the Biomass framework should be implemented at the earliest, not only on bagasse but also on other alternatives.

Advertisement

The impact of the increasing costs of electricity on SMEs was also discussed during the meeting. Mr Dalais thus underlined the importance of having a National Strategy to help boost the country’s performance, especially that of SMEs, as they are a key pillar of the Mauritian economy.

He moreover called for a reinforced Public-Private partnership that can contribute to a more sustained progress of our country.