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The Seychelles Investment Board (SIB) and the Economic Development Board (EDB) of Mauritius have signed a new Memorandum of Understanding (MOU). This MOU replaces the previous MOU that was signed in 2011 between SIB and the Board of Investment (BOI) of Mauritius. The signing of a new MOU was necessitated due to the merger of the BOI, Enterprise Mauritius and the Financial Services Promotion Agency in January 2018 to form the Economic Development Board of Mauritius (EDB).

The MOU establishes the intent of both parties to further collaborate and increase communications, with the intention of mutual assistance and coordination to the full extent permitted by the laws and regulations. The signing of this MOU assists in the enhancement of SIB’s reputation as a credible investment promotion agency. The areas of cooperation mentioned in the MOU includes;

 

  • Exchange of information on a predetermined basis
  • Facilitate exchange visits for transfer of knowledge and skills
  • Organisation of events to ensure greater benefits from the synergies between the two organisation
  • Enable the implementation of the Mauritius Business Desk
  • Explore investment opportunities for the Seychellois and Mauritian investors 
  • To enable SIB to learn from EDB the best practices in regards to the ease of doing business

 

Alongside the MOU, both parties have also agreed on an implementation plan whereby both parties can take full advantage of the areas of cooperation established in the MOU. It must be noted that SIB and EDB will be organising a capacity building exercise in 2022, this activity is expected to have the participation of numerous agencies and department across various Ministries.

 

The MoU was signed by SIB’s Deputy Chief Executive Officer, Mr. Lenny Gabriel and EDB’s Chief Executive Officer, Mr. Namasivayen Poonoosamy.

 

                

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