US Business Summit: Exploring the Potential of the Mauritian Market

The 2024 U.S. Business Summit formally commenced on August 21 at the InterContinental Resort in Balaclava, with a notable opening ceremony attended by U.S. Ambassador Henry Jardine, as well as Ministers Padayachy, Gobin, and Bholah, among others.

This summit marked a significant effort by the United States to strengthen its relationship with Mauritius in the coming months and years.

Mauritian authorities are positioning the country as an attractive destination for American investors, who are also targeting opportunities in the African market.

The event has drawn a delegation of 37 American participants from 11 companies and five U.S. government agencies, alongside representatives from the American Chamber of Commerce (AmCham) in South Africa and Kenya.

The summit, organized by the U.S. Embassy in collaboration with the U.S. Foreign Commercial Service, the Economic Development Board of Mauritius, and AmCham Mauritius, is set to conclude on August 22.

Over the next two days, the Mauritian government, local businesses, and stakeholders have the opportunity to engage with American firms and showcase tangible mutual business opportunities.

American companies will interact directly with key decision-makers to discuss the services and technologies they can offer while exploring current and future trade and investment opportunities.

The summit will also feature sector-specific roundtables and high-level networking events.

Henry Jardine, the U.S. Ambassador to Mauritius, emphasized that this is the first commercial summit between the United States and Mauritius in two decades, calling it a pivotal event.

He stated that the U.S. government sees tremendous potential in Mauritius, describing it as a valuable trade partner with whom the U.S. is eager to build stronger ties in the foreseeable future.

“This summit brings together leading American companies in sectors identified as priorities by the Mauritian government and industry contacts.

We are confident it will open new avenues for trade and investment, deepen commercial ties with Mauritius, and enable American private sector access to opportunities in the local market,” he asserted.

Currently, over 100 American companies and brands have a presence in Mauritius, operating across various sectors, including financial services, telecommunications, information technology, and logistics.

In his address, Maneesh Gobin, Attorney General and Minister of Foreign Affairs, Regional Integration, and International Trade, emphasized the favorable business environment in Mauritius.

“If you are here, it is because you have already decided to do business. The ecosystem and business environment here are the best on the African continent,” he remarked.

Finance Minister Renganaden Padayachy highlighted the importance of Mauritius being open and continuing to foster relationships with other countries for its development.

He pointed out that the presence of the American delegation signifies a commitment to using Mauritius as a platform for investment in Africa.

“The country stands to gain immensely from its relationship with the United States, the world’s leading economic power. We will continue to work towards building our economy with partners like the U.S.,” he affirmed.

Regarding the costs of doing business in Mauritius, Cynthia Griffin, Minister Counselor for Commercial Affairs at the U.S. Consulate in Johannesburg, referenced a recent survey conducted by the American Chamber of Commerce in Mauritius.

She relayed this information to her government, emphasizing the importance of having a responsive government committed to partnering with the private sector to enhance the business climate, regardless of location.

“What we see here is a committed government, which is why American businesses are present,” she concluded in response to a question from the press.

Source: Defi Media