Pravind Jugnauth: “Growth should be inclusive and reduce inequality”

The Minister of Finance has called for a renewed partnership between the government and the private sector to create a climate conducive to investment. 

The objective is to ramp up investments and hence, increase economic growth. “However, growth should be inclusive and reduce inequality,” he added. Pravind Jugnauth was speaking at a workshop organised by the Board of Investment on the Mauritian Film Industry at the Holiday Inn hotel in Plaine Magnien on Thursday morning.

“Development in the past has resulted in income distribution being towards the richest and skills mismatch in the labour market,” stated the Finance Minister. Regarding the creation of a local film industry, he revealed that the Film Rebate Scheme has created more than 400 jobs. It is expected that the increase in the refund will contribute towards launching this nascent sector into higher gears. 

“We were convinced that the film industry has great potential. The film industry can contribute towards job creation, revenue to small businesses and infrastructure investment as well as film-induced tourism. It will contribute to the diversification of our growth strategy and its resilience.”

Pravind Jugnauth has also sought to address relations between the central government and the private sector following comments made in the press by Mr Sateeaved Seebaluck, the former Secretary to Cabinet who is now Advisor at the Prime Minister’s Office. The latter stated that economic operators “have for too long stayed in a wait-and-see mode instead of investing.”

For the Finance Minister, the government is fortunate that its private sector has been a partner throughout the years. Drawing on his political experience, Mr Jugnauth told the press on Thursday morning that he has always been satisfied of exchanges with economic operators and cites to that effect pre-budgetary discussions. 

“The private sector has played a crucial role in the social, economic and cultural development of our country. We want the private sector to invest even more. To that end, we are looking at ways to improve the investment climate in order to create more opportunities and launch new sectors of economic activity.”

Earlier, Pravind Jugnauth said that the private sector produces the majority of the country’s GDP. “But these partners have to understand that development needs to be inclusive.”

The day before, on Wednesday, the Finance Minister toured the northern part of the island holding impromptu meetings with inhabitants of the area. Asked by the media what he thinks of comments made by his political opponents who said he is undertaking a roadshow, he answered: “The previous regime did a no-show.”