Subject: ITL e-News - August 2023

ITL e-News | August 2023

Mauritius News

AFD, Business France and EDB sign a tripartite agreement to facilitate knowledge sharing and promote economic growth

BRICS Summit 2023

6 new countries will be added as from 1 January 2024

Mauritius signed 2 MoU with the Republic of Togo to reinforce knowledge exchange and reinforce bilateral trade relations

Mauritius-China Free Trade Cooperation Forum discussed ways of expanding businesses and strategise on how to capitalise on the FTA

The Bangladesh-Mauritius International Financial Centre Business Forum explored potential areas of cooperation, including direct air connectivity and easy visa processing.

India-Africa Entrepreneurship and Investment Summit

The 3rd edition explored trade dynamics between the 2 countries.

FINANCIAL & BANKING SECTOR

An amendment has been proposed to the Securities (Preferential Offer) Rules 2017.

The FSC has issued a draft Guidance Notes on Stablecoins.

Guidance on Cloud Computing Services has been issued to support its adoption.

OECD and FSC renewed their capacity-building programme till December 2024.

BoM signs a partnership agreement with Foundation TSE - Partneriat, Toulouse School of Economics

The Bank of Mauritius maintained the key rate at 4.50% per annum

TRAVEL AND TOURISM


Air Mauritius will operate daily direct flights from London Gatwick Airport as from 29 October 2023

INTERNATIONAL BENCHMARKS


Standard & Poor's upgrades Mauritius Investment Status to a Baa1-Baa3 rating.

Seychelles News

ESSAMLG Project Team meets in Seychelles in relation to the de-risking in its member states.

A delegation flew to Australia for Tax Administration and Customs Management

The IMF approves 2 facilities: Extended Fund (USD 56m) and Resilience & Sustainability (USD 46m)

The Public Enterprise Act  repeals the Public Enterprise Monitoring Commission Act.

Seychelles pioneers Novel Financing Instruments and taps IMF Climate Facility.

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The information in this e-News was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-News, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.