PM urges more private sector investments to give a spur to industrialisation
The Prime Minister, Minister of Home Affairs, External Communications and National Development Unit and Minister of Finance and Economic Development, Mr Pravind Kumar Jugnauth, urged the private sector to invest more in the economy particularly in services where value added is higher than in other sectors so as to give a boost to industrialisation.
He was speaking yesterday evening at the launch of the Moka Smart City project at the Vivea Business Park, Moka. He stressed that Government needs more efforts and collaboration from the private sector to invest in various sectors of the economy in addition to real estate owing to the fact that the public investment has its limits and constraints.
Prime Minister Jugnauth expressed satisfaction regarding the new dynamics of growth on behalf of the private sector and the need to keep up this momentum with higher private investment which he said will contribute in improving economic growth. According to him, there are already clear and encouraging signs that the economy will perform much better this year with improved performance in almost all sectors of the economy.
He recalled that the various projects in the pipeline among which the Moka Smart City, the Metro Express project, the Multisport Complex and other major infrastructure projects, will bring a boost to the construction sector which he said is expected to expand by 7 percent this year bringing up the GDP growth with more job creation.
The Prime Minister further highlighted that Mauritius has reached a stage of development where entrepreneurs have to be more outward looking regarding cross border investments and underpinned the importance of Smart Cities as future concepts integrating existing urban areas to make Mauritius more modern and attractive to foreign investors.
Smart Cities should not signal the demise of our main cities, he emphasised but instead, serve as a model to modernise our towns and cities. We do not want a country with two faces he said, adding that every citizen must have access to the modern facilities we create and the services provided.
On this score, he lauded the ENL Group for the Moka Smart City initiative which will serve as a model for other such projects while at the same time contribute to the development of the country and upliftment of the people. According to him, the Moka Smart City bears testimony of ENL’s commitment to channel private investments and projects in line with Government priorities and determination to transform the economy while narrowing the gap between the poor and the rich.
For his part, the Chief Executive Officer, ENL Group, Mr Hector Espitalier Noel, spoke of the importance of the Moka Smart City which will transform the region into a modern, connected and vibrant place while opening opportunities for one and all with the creation of about 3500 jobs. Smart cities, he added, have a crucial role to create high paid jobs, foster investment in higher value added production, combat poverty and promote inclusiveness.
Moka Smart City Project
The Moka Smart City project also known as digital city will span over a surface area of 26 km2. The modern city project will provide in an efficient and comprehensive manner educational and health care facilities, transportation systems, as well as the utilities and other community services. It will also integrate digital technologies, ICT, the Internet of Things, so as to enable the inhabitants to benefit from the enormous advantages that such technologies offer to improve their lives, their business as well as their leisures.
Through the new Smart City Scheme, Moka will offer development and investment challenges such as a central business district promoting innovation, a further expanded knowledge hub, new contemporary residential projects accessible to both locals and foreigners, developed urban infrastructure with green spaces and waste sorting and recycling platforms among others.