EDB opens office in Dubai
16 Mar 2022
EDB opens office in Dubai
The Economic Development Board (EDB) has expanded in Dubai with the opening of a new representative office at the Dubai Chambers headquarters on Wednesday, 16th of March 2022. This initiative is the result of the fruitful discussions held in January 2022 between Minister of Finance, Economic Planning and Development, Dr. the Honourable Renganaden Padayachy and Mr. Abdul -Aziz Abdulla Al Ghurair, President of the Dubai Chamber of Commerce, and Industry. During this meeting, the Minister of Finance recommended to strengthen and broaden the partnership between EDB Mauritius and the Dubai Chambers of Commerce. As a result of this discussion, a representative office is being made available to the EDB free of charge for the next two years.
During his speech, the Minister of Finance acknowledged the tremendous effort made by the President of the Dubai Chamber of Commerce for allowing Mauritius to open an office in Dubai in such a short lapse of time.
The opening of this new office goes in line with the global strategic vision of the EDB to enhance economic ties in its traditional and emerging markets as it comes after the opening of offices notably in France, India, Japan, China, Singapore, South Africa, Kenya, and Rodrigues. In the same vein, a Memorandum of Understanding (MOU) was signed yesterday morning by the CEO of the EDB, Mr. Ken Poonoosamy in the presence of the President of the Republic of Mauritius, the Minister of Finance, Economic Planning and Development, the Minister of Foreign Affairs, Regional Integration and International Trade, the Chairman of the EDB, Mr. Hemraj Ramnial, as well as other guests.
In his speech, the Minister of Finance has expressed his confidence and optimism in this new collaboration between the Dubai Chamber of Commerce and the EDB Mauritius as it will open up tremendous opportunities for businesses and reinforce the economic ties between the two nations. The Minister further specified that the focus will be geared towards the development of economic sectors such as the pharmaceutical industry, financial services, real estate, ICT, and renewable energies amongst others.
“Mauritius is ranked by the World Bank as the most business-friendly country in Africa and ranks 13th globally. Just as today Dubai is a global hub for attracting businesses, our government has set objectives to attract foreign investors, professionals as well as enhancing the Silver Economy”, stated the Minister of Finance.
The Minister added that the EDB plays a catalytic role in the implementation of the country’s socio - economic program.
“In our outreach strategy, the Economic Development Board must extend its footprint and branch of offices abroad to ensure maximum visibility. Dubai is an essential node to connect globally and a permanent presence of EDB in Dubai can only strengthen the links”, the Minister further adds.
Following this collaboration, the EDB will be able to capture foreign direct investment more effectively from the UAE. Mauritius and the United Arab Emirates have come together over the past six months during the Dubai Expo 2020 Universal exhibition. Emirati investors are interested in the prospect of making large investments in luxury real estate, banking, finance, or global business and Mauritius is also seen as a springboard for businesses to the African continent.
The President of the Republic, the Hon. Roopun Prithvirajsing recalled that the signing of the MOU between the EDB and the Dubai Chamber of Commerce and Industry opens up positive prospects for cooperation between the two institutions.
“It is a symbolic new step towards strengthening economic and diplomatic ties between Mauritius and Dubai. In the changing context of globalization and sustainable human development, Mauritius and the United Arab Emirates will identify new methods and ways to stimulate and foster private sector development,” stated the President of Mauritius.
