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Structured
economic activity dates back to the middle of the 18th century,
when the status of Mauritius was one of a French colony.
Mahé de Labourdonnais and successive French governors
promoted sugar cane and the timber industry, and they established
the island as a busy port by way of entrepot trade.
Almost three centuries later, the island
retains its reputation of a country buzzing with economic
activity. Economic performance remained buoyant during the
last four years with an average GDP growth of 5.7%. Whilst
steadily developing its economic strategy, Mauritius encourages
foreign direct investment in all sectors. Numerous incentives
in the manufacturing, ICT, services, financial, agricultural,
health and tourism sectors have been designed to attract
investors. Mauritius is now classified as a developing country
and is one of the healthiest economies in the African region.
The soundness of the Mauritian economy owes
a lot to the dynamism of the private sector, which is well
structured, clearly demarcated from the public sector, and
present in all the sectors of the economy. The sugar sector
provided the start-up capital for the Export Processing
Zones, and it is the rapid rate of growth of investment
in the manufacturing sector (investment grew by above 30%
each year since 1983 until the late 1980s in this sector)
which led to the success of the EPZ and the Mauritian economy
as a whole. This was made possible by the spirit of entrepreneurship
prevailing in the country, which thereby prompted the confidence
of foreign investors.
The successive colonisations
of Mauritius had as root cause the strategic location of the
country, which at that time served as main port on the way
to India. Till nowadays, the island stands poised as a bridge
between the East and the West, given that many ships rally
Mauritius on their way to Africa or Asia.
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