Economic Development Board Bill voted in National Assembly

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The Economic Development Board (EDB) Bill was voted in the National Assembly yesterday. The Bill provides for the setting up of an Economic Development Board.

The Prime Minister, Minister of Home Affairs, External Communications and National Development Unit, Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth, pointed out in his summing up that the main purposes of the Bill are to create an institution with a three-fold mission. It will provide strong support for strategic economic planning and ensure greater coherence and effectiveness in economic policy formulation; promote Mauritius as an attractive investment and business centre, a competitive export platform as well as an international financial centre; and facilitate both inward and outward investment and ensure a conducive business environment.

He underscored that the EDB, which will regroup the Board of Investment, the Financial Services Promotion Agency, Enterprise Mauritius and the Mauritius Africa Fund, will be responsible for the monitoring and evaluation of outcomes of policies and projects. It will further identify opportunities in new economic sectors and engage with international partners to develop strategic alliances to create the appropriate ecosystem for several sectors.

The Prime Minister recalled that as announced in budget speech 2017-2018, the EDB will support Government’s efforts in fostering higher economic growth for more and better jobs. To that end, he underlined, the EDB will advise the Government in several areas, namely socio-economic development, trade development, export and investment promotion, infrastructure development, labour market improvement and business facilitation.

He highlighted that the Bill provides for a Board comprising a Chairperson, a Vice-chairperson and between six to eight other members.