The Blue Economy in Mauritius: A growing sector attracting foreign investors

Renowned for its expansive maritime territories and rich marine resources, Mauritius is emerging as a leader in the blue economy. This critical sector, focusing on the sustainable use of ocean and sea resources, has become a significant economic driver for the island. For investors seeking new opportunities, Magellan, committed to facilitating seamless relocation to Mauritius, highlights the blue economy as a vibrant area where innovation, sustainability, and profitability converge.

Exceptional maritime potential

Mauritius boasts an exclusive economic zone of 2.3 million km², over 500 times larger than the island itself, serving as a vast resource for national development. This zone is critical for harnessing marine ecosystems and fostering emerging sectors like aquaculture, renewable marine energy, and marine biotechnology. With its favorable maritime conditions, Mauritius offers unmatched potential to draw foreign investors to these swiftly expanding fields.

Mauritius’ Blue Economy in figures

Mauritius’ blue economy is a rapidly growing sector with significant potential for sustainable development, job creation, and revenue generation. The government is actively devising strategies to optimize the benefits of this sector while preserving marine ecosystems. Here are key figures to consider for your investment in Mauritius:

• GDP contribution: The blue economy is a major contributor to the national GDP, with ocean-related sectors like fishing, tourism, maritime transport, and marine energy accounting for approximately 10 to 15% of the total.
• Fishing and aquaculture: Fishing remains a cornerstone of the blue economy, producing 10,000 to 12,000 tons annually, with a notable portion destined for export. Aquaculture is expanding, bolstering food security and exports through the cultivation of fish and crustaceans.
• Coastal and marine tourism: This sector forms a foundational pillar of Mauritius’ economy, contributing around 25% to the GDP. It includes scuba diving, boat tours, and water sports, which generate substantial revenue and support numerous jobs.
• Port and maritime transport: Port Louis serves as a vital regional hub in the Indian Ocean, enhancing the economy through transshipment and logistics operations. The broader maritime sector, encompassing port services and the merchant fleet, is a significant economic force, offering extensive employment opportunities.
• Blue energy: Mauritius is tapping into renewable marine energies like waves and offshore wind to diversify its energy sources and lessen its reliance on fossil fuels.
• Marine environmental protection: The commitment to marine conservation is strong. Currently, around 2% of the EEZ is designated as marine protected areas, which the government aims to increase to 10% by 2025.
• Employment: The blue economy is a key employer in Mauritius, especially in sectors like fishing, tourism, maritime transport, and marine conservation.
• EEZ (Exclusive Economic Zone): With an EEZ of 2.3 million km², one of the world’s largest, Mauritius presents extensive opportunities for the sustainable use of marine resources.

The evolution of the Blue Economy in Mauritius

Over the past few years, the Mauritian government has prioritized the development of the blue economy, launching initiatives to establish a robust maritime industry. Despite these efforts, financing remains a significant hurdle to expansion. Strategic plans are in place, and numerous conferences have been held, yet local companies still struggle to access the financial resources needed for large-scale projects.

Nevertheless, the sector is exploring innovative financial solutions to overcome these challenges, such as “Blue Bonds” and blue carbon credits. The success of the Seychelles, which raised funds through the issuance of the first sovereign “Blue Bond” in 2018, demonstrates the viability of structured financing for the blue economy. Mauritius could look to this model for inspiration, potentially creating unique investment opportunities for private investors.

Concrete opportunities for foreign investors

The blue economy in Mauritius provides diverse investment opportunities. Key areas with high potential include the exploitation of renewable marine energies, sustainable fisheries and marine ecosystem management, and innovative technologies for marine biodiversity conservation. The export of resources like tuna, plentiful in the EEZ, presents lucrative options for foreign investors, especially those targeting European markets.

Public-private partnerships (PPPs) offer another promising path. By collaborating with Mauritian authorities, private investors can engage in maritime projects that yield attractive returns and contribute to the nation’s sustainable development.

A business-friendly environment

Mauritius not only presents financial opportunities but also fosters a conducive business environment for foreign investors. The island’s advantages include favorable tax policies, modern infrastructure, and a skilled workforce, making it an attractive hub for entrepreneurs interested in the blue economy.

Government initiatives such as the creation of a blue economy fund and support for innovative startups further enhance Mauritius’ appeal. The country is dedicated to pursuing economic diversification, attracting foreign investment, and promoting the development of sustainable solutions.

Why invest in Mauritius’ Blue Economy?

Mauritius stands at a pivotal moment. Once a theoretical concept, the blue economy is now a tangible economic opportunity. The country offers rich maritime resources, a business-friendly regulatory framework, and a committed approach to sustainable development, making it an appealing option for foreign investors.

For those seeking fresh opportunities in a burgeoning sector, Mauritius’ blue economy is an essential avenue to consider. The island combines its natural advantages with a vibrant business environment, promising both a strong return on investment and contributions to environmental preservation.

While there may be challenges for investors establishing themselves in Mauritius, Magellan is dedicated to facilitating a smooth and enjoyable expatriation process. We work closely with our clients, ensuring they can fully capitalize on the opportunities within the blue economy. Contact us to contribute to the growth of this innovative and promising sector.

Sources for this article:

Développer l’économie bleue à Maurice – le Financement bleu : un défi majeur – defimedia.info

Le ministre Boolell décrit les perspectives de l’économie bleue pour l’île Maurice – ionnews.mu