Mauritius’ Economic Development Board is keen to highlight at this year’s Med-Tech Innovation Expo its attractiveness for investment in the medical device and life sciences sectors, even though the country is well known for its sun, sea, and its popularity as a holiday destination.
Previously, the Economic Development Board exhibited at our 2019 event when COVID-19 was not there, but now they are back for more, and they aren’t alone, as medical device companies will join them to exhibit at the 2022 event.
As co-exhibitors in June 2022, they will be Natec Medical, Xtruline, and Noraker Capricorne, manufacturers of orthopaedic and dental implants and bone substitutes.
As an example of a French company established in Mauritius, Noraker Capricorn is a great example. The company’s research and development are conducted in France, but its manufacturing is based in Mauritius since the company can take advantage of several tax credit and rebate schemes there. Natec also plans to establish a life sciences center in the country and do more contract manufacturing.
The Economic Development Board of Mauritius’ director of bio-industry and project development, Nirmala Jeetah, explains more about the incentives that the country offers to life science companies who do business there.
According to me, the biggest challenges for Mauritius are the ecosystem, lifestyle, cost of doing business, and access to infrastructure, connectivity, and labor. It is easy to find workers and there is no shortage of resources.
Currently, we have a program that focuses on pharmaceuticals and medical devices for premium investments. In the Premium Investment Scheme, you can receive exemptions from duties, taxes, and utility costs. The n”The new healthcare scheme is encouraging investment in healthcare.” Ms. Jeetah explains that this is a relatively new industry for the Mauritian economy and foreign companies are showing an interest in investing.
The Economic Development Board is seeking to work with prospective firms to bring new life sciences manufacturing to Mauritius. A life sciences hub has been earmarked for the country’s government. One firm has already expressed interest in setting up in Mauritius, and another South African firm is interested in setting up in the pharmaceutical sector.
