2009年-世界发展银行全球_Mauritius_-_Investment_Climate_Assessment_122页_1mb

Investment Climate Assessment of Mauritius (2009)

Core Content

This report presents an Investment Climate Assessment (ICA) of Mauritius, focusing on the macroeconomic environment, firm performance, access to finance, innovation and technology absorption, and other business constraints. It is based on data from 484 formal firms and 120 informal establishments, using a representative sample with weights to ensure accuracy. The ICA also includes insights from the Investment Climate Survey (ICS) and the World Bank Enterprise Survey.

Main Viewpoints

• Economic Transformation: Mauritius has successfully transitioned from a mono-crop economy (sugar) to a diversified one, with the services sector contributing 72.5% of GDP in 2008.
• Competitiveness: The country has improved its global competitiveness ranking, moving from 24th to 17th in the World Bank Doing Business report, and is ranked 57th in the World Economic Forum's global competitiveness index.
• Private Sector Growth: The private sector has played a crucial role in economic growth and employment, with strong public-private partnerships and preferential access to export markets.
• Constraints to Growth: Despite progress, firms face significant challenges, including limited access to finance, a mismatch between collateral requirements and firm assets, and a lack of skilled labor.
• Innovation and Technology: Innovation and technology absorption are critical for productivity, but R&D investment is low, and firms rely heavily on internal retained earnings for funding.
• Informal Sector: The informal sector is significant, with micro firms facing higher constraints and lower productivity compared to formal firms.
• Training and Skills: Training is essential for technology adoption and innovation, but the current level of formal training is low, especially among micro and non-export firms.

Key Information

Macro-Economic Environment

• Economic Growth: Mauritius has experienced an average annual growth rate of 5% since 1968, with some volatility.
• Sectoral Shift: The economy has evolved from import substitution to export-oriented sectors, with a strong focus on services, textiles, tourism, and financial services.
• FDI and Exports: FDI has been a key driver of growth, and the country has benefited from preferential access to export markets in textiles and sugar.

Firm Performance and Business Environment

• Productivity: Labor productivity is lower in Mauritius compared to comparator countries, with a particular gap in the manufacturing sector.
• Constraints: The main constraints reported by firms include access to finance, lack of skilled labor, and infrastructure bottlenecks.
• Impact of Financial Crisis: The financial crisis has increased the perception of financial constraints among firms, especially SMEs and non-exporters.

Access to Finance

• Credit Access: Only half of the firms surveyed applied for loans in 2008, with small firms more likely to be rejected (15%) than large firms (10%).
• Collateral Issues: The mismatch between firm assets and accepted collateral is a significant barrier to credit access.
• Financial Literacy: Financial literacy training is recommended to improve SMEs' ability to develop bankable proposals.

Innovation and Technology Absorption

• R&D Investment: R&D investment in Mauritius is low (0.36% of GDP), and most is conducted in the public sector.
• Technology Adoption: Firms that introduce new technologies or products tend to have higher value addition, and training and R&D expenditure are positively correlated with productivity.
• Skill Shortages: There is a notable shortage of skilled labor, particularly for high-tech industries, which limits technological absorption and innovation.

Other Business Constraints

• Transport and Customs: Mauritius ranks poorly in terms of logistics efficiency, with a high number of border agencies and inspection delays.
• Electricity: Electricity problems, including power outages and high costs, are a significant constraint for firms, especially in manufacturing.

Micro Enterprises

• Characteristics: Micro firms are more likely to operate informally and face greater constraints in accessing finance and formalizing their operations.
• Informality: Informal firms are more vulnerable to economic shocks and have limited access to formal financial services and training.
• Constraints: The biggest constraints for micro firms include access to finance, lack of formal training, and limited market access.

Policy Recommendations

1. Support Exports

   • Develop programs to assist firms entering new export markets or exporting new products.
   • Provide support for a portion of estimated expenditures (around 50%) to small firms, with a cap on per-firm amounts.

2. Improve Private Sector R&D and Industry-Research Collaboration

   • Fund quality improvement campaigns and provide incentives such as tax exemptions and prizes.
   • Enhance awareness of quality systems and techniques, aligned with international standards.
   • Improve metrology, standards, testing, and quality infrastructure.
   • Implement a matching grant scheme for innovation, ensuring firms contribute to R&D costs.

3. Upgrade Skills and Human Resources

   • Introduce new measures to enhance the scale and quality of the workforce.
   • Promote science and engineering education to build a stronger technical workforce.
   • Ensure curricula are up-to-date and relevant to industry needs.
   • Collaborate with overseas universities (e.g., UK, Australia) to support human resource development.

4. Expand Access to Finance

   • Extend credit information bureau coverage to more financial intermediaries.
   • Lower reporting thresholds to improve information quality for small borrowers.
   • Rationalize and review subsidized lending programs.
   • Introduce financial literacy training for SMEs.
   • Design partial risk guarantees and other financial products to reduce collateral risk.
   • Establish a national business plan competition to support start-ups, using both conventional and innovative approaches.

Conclusion

Mauritius has made significant progress in economic diversification and competitiveness, but challenges remain in terms of firm productivity, access to finance, and skill development. Addressing these issues through targeted policy interventions will be essential for sustained growth and global competitiveness.