Madam Speaker, at the launch of the Mauritius-India Business Meeting last September in Mumbai, I had announced the setting up of a Special Economic Zone in Mauritius. This SEZ would have world class facilities for excellence in IT, Artificial Intelligence, high tech manufacturing, and other transformative investment. The SEZ at Côte d'Or, being developed on 83 arpents of land, will be a premier innovation-driven zone for businesses that define the economy of the future. The setting up of the SEZ is part of our strategy for economic renewal and transition to a new economic model, which is investment-driven. Through this zone, Government is laying the foundation for a new pillar which will promote a technology-driven economy. During my visit to India in February 2026, at the India AI Impact Summit 2026, I appealed to the business community to avail of the facilities under the SEZ to make Mauritius a trusted digital gateway between Africa and Asia. A Steering Committee has been set up to oversee implementation of the SEZ and to ensure that the necessary ecosystem is put in place to attract high-net-worth investors. This Committee is chaired by the Financial Secretary and comprises representatives of the relevant Ministries and institutions. It is working on all the aspects of the SEZ implementation, including the development of an incentive framework for the zone. Madam Speaker, with regard to part (a) of the question, the Steering Committee has recommended a package of incentives to attract investors in the SEZ. The proposed package will be offered under a new scheme. The scheme will also be available for the development of similar approved zones across the country. The package covers both fiscal and non-fiscal incentives and has been developed based on a benchmarking exercise of incentives being offered by other similar SEZs across the world. The holders of the proposed Golden Visa will be able to participate in the new scheme and benefit from the package of incentives. Once approved by Cabinet, the details of the incentive package will be made public. Madam Speaker, we are ensuring that the package of incentives will be comprehensive enough to cater for the needs of different categories of investors in the zone. With regard to part (b) of the question, the SEZ at Côte d'Or will be fully serviced with infrastructure which include roads, electricity and water as well as wastewater by December of this year. This will require an investment of around Rs1 billion, out of which, Government is financing some Rs882 million. The remaining investment will be made by Landscope (Mauritius) Ltd. With regard to part (c) of the question, the SEZ will be a transformative, game- changing opportunity that will drive the next wave of investment in Mauritius and strengthen the country’s global economic positioning. It will also provide the opportunity to position Mauritius as a safe and stable investment jurisdiction in the midst of the pervading uncertainties at the international level. It will support economic diversification, enabling Mauritius to transition into a hub for AI, advanced technology and manufacturing. International experience shows that Special Economic Zones are proven catalysts for FDI, for job creation, and economic growth. Being the first AI-focused SEZ in the region, Mauritius is well-positioned to emerge as a leader in AI innovation and data-driven economy. This will enable a structural shift from traditional sectors to knowledge-based and innovation-driven industries, enhancing global competitiveness. The SEZ aims to attract leading global technology companies and AI-Data and Disaster Recovery Centres, positioning Mauritius as a producer and exporter of AI services and not just being a consumer. In terms of employment, the SEZ is expected to generate high-value jobs in targeted sectors. At this point, Madam Speaker, we are in the process of launching an Expression of Interest inviting investors to invest in the SEZ. We will be in a better position to assess the level of Foreign Direct Investment and the impact on job creation from the SEZ after this exercise.

Yes, thank you. The hon. First Member for Vacoas & Floréal! BANK OF MAURITIUS – FOREIGN CURRENCY RESERVES –QUANTUM SOLD