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Tuesday, 20 October 2015

Mauritius - China fisheries deal

Mauritius has signed a deal with a Chinese firm to develop a $113 million fishing port in a bid to become the maritime hub for Africa. Recently, Mauritius revised down growth forecasts for 2015 from 4.1 % to 3.6 %, which means that the country will be off target to graduate from its middle income status. However, as Mauritian Finance minister Seetanah Lutchmeenaraidoo explained Mauritius aims for 5.7 percent growth in fiscal 2016/2017 and rising to 8 percent "within the next five years. A key part of this plan  lies in the strategy to move Mauritius from being a small port in the Indian Ocean to become the most important maritime hub. Mauritius aims to attract new investors in shipping and other maritime projects, to diversify the economy, which relies on sugar cane farming, tourism and financial services.

Source: theafricareport.com