Enhancing productive capacity in ocean economy

The ocean economy offers vast opportunities, but is also faced with various challenges. In order to fully tap the economic possibilities of the ocean, the following measures have been proposed:

·         an increase of Rs 30 as regards bad weather allowance on a daily basis to fishermen;

·         the setting up of an online and physical fish auction market to act as an interface between local fishermen, fishing companies and buyers both local and international;

·         consolidating and diversifying the fisheries and seafood industry; and

·         conducting stock assessment to better manage and protect species such as lobsters, squid and other small commercial pelagic fish.

The bunkering sector is also considered as a promising new growth pole in the ocean economy and in an endeavour to give a boost to the sector, a series of measures have been announced. They are: grant of a four year tax holiday on income derived from bunkering of low Sulphur Heavy Fuel; refurbishment of existing storage facilities to cater for low Sulphur Heavy Fuel Oil; and ship-to-ship bunkering by the Mauritius Ports Authority.

Other projects in the pipeline are: the construction of Fisheries Post at Case Noyale; the acquisition of Multi-Purpose Support Vessel and a new vessel by Mauritius Shipping Corporation Ltd.

The long term goals of Government are to maximise value from marine sector through sustainable economic diversification; create high-value onshore and offshore jobs; contribute significantly to food security through sustainable utilisation and management of marine resources; and enhance energy security via the development of marine renewable energy