Africa-Press – Mauritius. Moving towards digital transformation and promoting the ICT sector for socio-economic development and employment creation are among the key measures of budget 2023-2024.
To bring the sector to the next level of development, the budget makes provision to improve the capacity of the workforce, and expand services in the region with new campuses or local training institutions partnering with their African counterparts to be allowed a double deduction on their costs.
To accelerate the digitalisation of public sector services, local service companies will also benefit from the margin of preference of 40 % and the MauPass will be extended to the corporate sector for digital service access for employees. The Central Electricity Board will introduce a Carbon Neutral Scheme for the ICT sector. Life Sciences and Biotechnology
With regard to tapping into the potential of the life sciences and biotechnology sector which is one of the fastest emerging sectors of the economy with an annual global growth of more than 7.5 %, several measures have been elaborated in the budget.
To consolidate this industry as a key driver of growth, these measures were announced: The Human Tissue Act will be amended to enable in-vitro fertilisation;
All applications under the Clinical Research Regulatory Council will be processed within a maximum period of 15 days; The Investment Certificate issued by the Economic Development Board will cover wellness related activities, including traditional medicine; and Companies manufacturing medical devices will be taxed at 3 %.
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