KARACHI - President of Mauritius Dr. Ameenah Firdaus Guarib-Fakim has invited All Pakistan Textile Mills Association (APTMA) to invest in Mauritius - the gateway to Africa.

Talking to the APTMA delegation, led by its Chairman Tariq Saud, here at a hotel on Wednesday, she drew their attention towards a huge opportunity, which she said was available in the unexplored textile sector of Mauritius. “Mauritius is recognised among the first six countries in the continent, which is recommended to people wishing to relocate,” Ameenah added.

She further said that Mauritius was one of the leading countries in the African region, which had been acknowledged in the World Bank’s Doing Business Survey, 2016 as a country with good governance and business friendly environment.

She suggested to the Pakistani textile entrepreneurs to penetrate into the US and European markets through Mauritius. She further told APTMA members that since its independence in 1968, Mauritius underwent a sustained transformation, moving from mono-crop agricultural base to a well-diversified economy.

Talking about the incentives, Mauritius president said her government offered 10-year exemption from income tax to the investors, including the foreign investors, under the Mauritian Diaspora Scheme. “There is no minimum capital requirement for the incorporation of a company; 100 percent foreign ownership is allowed, and there is no exchange control for foreign investment,” she elaborated.

Addressing the APTMA chairman, she asked him to lead a delegation to Mauritius and experience the incentives and facilities provided by the government to the foreign investors.

“Members of the delegation will be treated as state guests,” Ameenah assured. She also proposed arranging a show of Pakistani textile brands in Mauritius.

Earlier, APTMA Chairman Tariq Saud informed Ameenah that APTMA was a premier association of the textile sector of Pakistan, and its members represented the entire textile value chain.

He said there was a need for close liaison between the business communities of the two countries so that Pakistani businessmen and investors could explore not only the Mauritian market but could also enter the African markets.

Saud invited the Mauritian entrepreneurs to start joint ventures with their counterparts in Pakistan.

He thanked the President of Mauritius for inviting APTMA to Mauritius to explore new avenues of trade between the two countries, and assured her that he would bring a delegation to Mauritius for not only experiencing its investment climate but to also open a warehouse there for the marketing of Pakistani textile products

The APTMA delegation comprised of Asif Inam, Vice Chairman, Nadeem Maqbool, former chairman, Imran Maqbool, Chairman APTMA Sindh Balochistan region and Fawad Anwar Karim and Naveed Ahmed, Executive Committee Members of APTMA.