Mauritius
Sector
Aquaculture & Mariculture
Project: Fish farms
Summary: The government of Mauritius has declared six sites on the South-East lagoon as fish farming zones, and is seeking investors to establish fish farms. Privileged species are already under culture, namely red drum (Sciaenops Ocellata) and cordonnier (Singanus Sutor). Cobia is another recommended species due to its fast growth. Except for cordonnier the indicated species fetch high prices on the world market. The application form and guidelines are available on the following webpage: http://www.investmauritius.com/resources.aspx.
Regulatory and Institutional Framework
• Appropriate regulatory framework for the setting up of fish farming activities in the sea
• Processes and procedures are well-defined
• Existence of
appropriate institutions to promote the development of the fish farming industry
Human Resources
• With the development of the seafood industry in Mauritius, tertiary education institutions have started to offer specific programmes in aquaculture and aquaculture related activities.
o The University of Mauritius has programmes specifically geared towards aquaculture activities: BSc (Hons) Agriculture with Aquaculture and BSc (Hons) Marine Science and Technology.
o The University of Technology had a diploma programme during the academic year 2007/2008 in Fisheries Enabled Services.
Fiscal Incentives
• 15% corporate on taxable profits
• Capital allowances on capital expenditure deductible in computing taxable profits
• No Customs duty on industrial equipment
• Free repatriation of profits, dividends and capital
• No Capital Gains Tax
Ownership
o 100% Foreign Ownership allowed
Preferential access to international markets
While endowed with a small, but increasingly affluent local population, Mauritius has secured preferential access to markets worth several hundreds of millions of consumers. With the EU, through the Economic Partnership Agreement; with the US under the Africa Growth and Opportunity Act; with Eastern and Southern Africa, through the COMESA (Common Market for Eastern and Southern Africa) and SADC (Southern African Development Community).
Sector: Mauritius is positioning itself as prime location for sustainable aquaculture in view of the positive conclusions of the Aquaculture Master Plan. One of the main findings of the Master Plan is that there is potential for an annual production of 29,000 tonnes of fish in the medium term and 39,000 tonnes of fish in the long
term. This potential has come to light after a successful attempt by the private sector to produce red drum, sea bream and rabbit fish in floating cages on a relatively large commercial scale. The legal framework has thus been introduced to create the right environment for potential investors. The government has a particular strategy regarding aquaculture;
• Investors are encouraged to go for high-value farmed fish with an “eco/organic” branding.
• The number of sites are limited to better monitor the farms and ensure quality products
• In the medium term, the government is working towards a unique brand for fish farmed in a sustainable way in the pristine water of Mauritius that will be internationally recognised.
For more information contact:
Doris Man Seng, Manager: Manufacturing, Agro-Business Energy and Environment, Board of Investment Mauritius
Email: doris@investmauritius.com
Tel: +230 203 3800
www.investmauritius.com
