Mauritius has had its share of high-level controversies over the past year. Scandals such as the win of veteran politician Anerood Jugnauth for his sixth term, the arrest of former Prime Minister Navin Ramgoolam for five counts of conspiracy, bribery and money-laundering, Finance Minister Vishnu Lutchmeenaraidoo's withdrawal of Bramer Bank's banking licence , the establishment of MauBank to take over Bramer's assets and liabilities and so on, and the country has been affected by these events. Economists, however, think a "blue economy" can help, as well as the construction of the eight smart cities, an article from AFK Insider said.
Mauritius has been affected by the distribution of international capital as seen as safer investments in developed countries. According to official number, inward investment to the country reduced by about 30 percent to $200 million in the first nine months of 2015.
Inward investments mentioned were not from financial services industries such as manufacturing, outsourcing or ICTs but from luxury real estate purchases. Local financial experts worry that this trend of investment will continue and the foreseen economic miracle will not be able to push through.
On the other hand, a large number of economists remain positive about the country's prospects in developing a "blue economy." This strategy could possibly include exploiting Port Louis' harbor amenities to increase shipping of products and manufactured goods from Africa to Asia, the use of new deep sea and coastal technologies when it comes to fishing, bio-pharmacy, oil and mineral reserves in the country's territorial waters.
A project that has been long-awaited is the construction of the first of the eight smart cities in June, the flagship project in the region. Based on the success of Cyber City, the project also includes creating, using private-sector financing, sustainable business, entertainment and residential properties that will increase employment for young and talented people.
This demographic is past the era of achieving employment based on kinship or political patronage but on the capacity and talent of the individual. There are also plans to regenerate existing urban centers such as Curepipe, Goodlands and Quatre Bornes.
