Ocean economy spawns more advantages on investing in Mauritius

The exclusive economic zone (EEZ) of Mauritius spreads at approximately 2.3 million square kilometres, the 20^th largest maritime zone in the world. In recent years, the island nation has taken many initiatives to tap this vast resource of territorial seas that has multiplied the advantages of investing in Mauritius.

Mauritius launched a road map for its ocean economy (aka blue economy) in 2013. Its scope has been extended beyond coastal tourism supportive of or a springboard to other economic sectors like property investments in Mauritius.

Its membership in the Small Island Developing States (SIDS) inspired Mauritius to focus on the development focus its ocean economy.  Its road map aims to tap into the Mauritian EEZ’s potential through consolidation of new development areas with existing sectors, such as tourism, seaports, seafood processing and fishing.

Opening new growth areas

The new sectors integrated into Mauritius’s blue economy included marine biotechnology, aquaculture, and renewable energy. Excluding tourism, the traditional areas of seafood processing, fishing, and seaports notably account for some 10 percent of the country’s gross domestic product and employ some 7,000 people.

Under the ocean economy roadmap of Mauritius, an investment of over MUR6 billion  has been allotted for the modernisation and expansion of the country’s main port at Port Louis. The projects in the pipeline include a new island port to accommodate an expected increase in container ship traffic of up to 1 million 20-foot containers each year.

A smart port system is also being developed to further increase port productivity and optimise port infrastructure usage. A modern cruise ship terminal is likewise on the drawing boards, wherein more could surface in the future. It requires an additional investment of more than US$700 million and further advances Mauritius’s ambition to become a leading regional maritime hub.

Deep ocean water potential

Notably, Mauritius is also on the forefront of deep ocean water application, a nascent blue economy project wherein the government has taken a private-sector driven approach.  Through government incentives, increased fiscal and operational competitiveness has been extended to a seawater air-conditioning (SWAC) project underway in the Port Louis region.

This $1million project will provide eco-friendly cooling to several public and private buildings in Port Louis’s city centre. SWAC seeks to achieve its green features through the use of cold water pumped from the Indian Ocean as a coolant for air-conditioning systems. An estimated energy savings of 26 MW is projected in this Port Louis project that adds a new dimension to economic development in Mauritius.

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