馃嚥馃嚭MauritiusEast Africa
Mauritius aims to transform ocean into growth driver
via Le Mauricien2 min read
At the Blue Economy Finance Forum BEFF in Monaco, Arvin Boolell, Minister of Agro-Industry and Blue Economy, advocated for blue finance, presenting Mauritius as a maritime power. He outlined the country's goal to double the blue economy's contribution to national GDP by 2036. Boolell highlighted Mauritius's vast maritime domain, including its Exclusive Economic Zone EEZ of nearly 3 million square kilometers, one of Africa's largest following the Chagos treaty. The minister emphasized moving beyond purely environmental discussions to focus on financial results, stressing Mauritius's ability to attract foreign capital through rigorous governance and innovative financial tools. He mentioned that the sovereign blue bond framework is designed to de-risk entry and amplify returns for long-term institutional investors, with legal stability being key to Mauritius's attractiveness. Science also guides Mauritius's strategy, utilizing artificial intelligence for fisheries management and developing marine biotechnologies. The upcoming Blue Economy Bill, to be debated in Parliament, aims to provide a predictable legislative framework. Boolell also noted Mauritius's pioneering role as the first country to ratify the historic BBNJ agreement on high seas biodiversity and its collaboration with Seychelles on shared continental shelf management. He concluded by inviting blue finance stakeholders to invest, stating, "The ocean is our common future. Investment is the bridge to achieve it. Let us
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This summary was AI-generated from a story originally published by Le Mauricien.
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