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FDI may see a boost with Chinese investment
12 Mar '07
1 min read
In a press conference, Mauritian Finance Minister Rama Sithanen said that Foreign Direct Investment (FDI) in 2007 may see a growth by 56 percent to MUR10 billion, boosted by a major Chinese investment.
This boost has been gained with the finalisation of a deal with Chinese textiles company Tianli, for a $500 million investment over five years.
The deal hopes to create 5000 direct local jobs, 2500 indirect jobs, annual export earnings of $200 million and a 100 million rupee contribution to improving port facilities.
The Finance Minister said, "We are creating a trade development zone that is destined for the export market".
With the end of preferential trade deals in textile sectors, Mauritius is keen to pursue foreign direct investment, which reached MUR6.4 billion during 2006.
This boost has been gained with the finalisation of a deal with Chinese textiles company Tianli, for a $500 million investment over five years.
The deal hopes to create 5000 direct local jobs, 2500 indirect jobs, annual export earnings of $200 million and a 100 million rupee contribution to improving port facilities.
The Finance Minister said, "We are creating a trade development zone that is destined for the export market".
With the end of preferential trade deals in textile sectors, Mauritius is keen to pursue foreign direct investment, which reached MUR6.4 billion during 2006.
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