President of Mauritius, Dr Ameenah Firdaus Guarib-Fakim has invited the All Pakistan Textile Manufacturing Association (APTMA) to invest in the island nation, according to reports in the Pakistani media. During a meeting with an APTMA delegation, led by its Chairman Tariq Saud in Karachi on Wednesday, the Mauritian President highlighted the huge opportunities available in the technical textile sector in her country which remains unexplored. She said that Mauritius is among the top six countries in Africa, which is recommended to people who wish to relocate. “It is one of the leading states in the African region for ease of doing business and good governance, as per the World Bank Doing Business Survey 2016,” the President said. She suggested that the Pakistani textile entrepreneurs could also take advantage of Mauritius to penetrate the US and European markets. Dr Guarib-Fakim said that her government provides a ten-year exemption from income tax on all income, inclusive of foreign investment under the Mauritian Diaspora Scheme. “There is no minimum capital requirement for the incorporation of a company, 100 per cent foreign ownership is allowed and there is no exchange control for foreign investment,” she added. She invited the APTMA chairman to bring a delegation to Mauritius and experience the incentives and facilities provided by their government to the foreign investors. She also asked them to arrange a fashion show of Pakistani textile brand and also showcase products for the firsthand information of the prospective buyers. APTMA Chairman Saud told the Mauritian president that there is a need for close liaison between the business community of the two countries so that the Pakistani business class can explore the Mauritian economy as well as enter the African market. He also invited Mauritian entrepreneurs for joint ventures in Pakistani textile mills.
