The World Bank commends Mauritius for its continued efforts to improve the business environment. In the Doing Business 2019 report, released on Wednesday, October 31, the country gained five places, establishing itself as an attractive destination for foreign investors. Prime Minister Pravin Jugnauth highlighted his government's efforts to move up 19 places in just two years (49th in 2017 and 20th in the 2019 ranking).
This gain in space is driven by an improvement of 8 sub-indicators out of the 10 that make up the ranking. For example, Mauritius is in 6th place worldwide for the efficiency of the tax system and 15th for the protection of investors' interests.
"Mauritius, which joins the top 20 economies this year (the only country in Africa), has systematically reformed its business environment over time," the report says. "Over the past decade, Mauritius has restructured more than once in all areas assessed by Doing Business. The reduction in the time required to register real estate and incorporate a company are two examples taken by the report's authors to present the efforts undertaken by Mauritius.
Mauritius reaffirms its importance on the African continent and in the East African region
The Doing Business ranking is based on 190 countries. The top five places are held by New Zealand, Singapore, Denmark, Hong Kong and South Korea. On the African continent, Mauritius maintains its first place ahead of Rwanda. South Africa, the continent's most industrialized economy, is only 82nd. In the East African region, Seychelles ranks 96th while Madagascar ranks 161st. Mauritius is therefore reaffirming its weight on the continent and on its sub-region, East Africa.
The Economic Development Board (EDB), the investment promotion agency in Mauritius, welcomes this new ranking. For François Guibert, its CEO, the ranking confirms that Mauritius "remains a competitive and attractive jurisdiction while consolidating investor confidence". However, further progress in the ranking will be more difficult. Mauritius has just entered an extremely competitive and demanding part of the picture. "What we are now doing in terms of regulatory reforms, business processes and digital transformation also requires greater determination and a paradigm shift to continue to make progress," says François Guibert in the EDB newsletter.