February 12, 2007

Seafood investment in Mauritius to rise to US$30 million this year

Seafood investment in Mauritius is expected to grow 30 percent this year to US$30 million from US$23 million, Ken Poonoosamy, a senior investment official responsible for the marine portfolio at the Board of Investment said last week.

Half the expected investment would come from foreign investors, he added. Situated in the western Indian Ocean, a major tuna fishing area, Mauritius hopes the sector's share of GDP would double to four percent from two percent at present.

The island has identified seafood as a source of growth and employment for its economy as preferential deals on sugar and textiles from its trading partners have ended,

Mauritius currently processes 120,000 tonnes of raw tuna per year.