April 6, 2018 / 2:38 PM / 6 months ago

Foreign direct investment in Mauritius up 4.2 pct in 2017-central bank

PORT LOUIS, April 6 (Reuters) - Foreign direct investment in Mauritius grew by 4.2 percent in 2017 to 14.22 billion rupees ($425.11 million), driven by inflows into real estate and financial and insurance activities, official data showed on Friday.

Foreign investment in real estate led with 8.79 billion rupees followed by financial and insurance activities with 3.32 billion rupees, the central bank said.

“Together, France and Luxembourg accounted for over 50 percent of total gross direct investment inflows,” Bank of Mauritius said in a statement.

France was the biggest source of capital with 4.38 billion rupees followed by Luxembourg, which put in 3.31 billion rupees.

Famed for its white sand beaches and luxury hotels, Mauritius is shifting an economy traditionally focused on sugar, textiles and tourism towards offshore banking, business outsourcing, luxury real estate and medical tourism. ($1 = 33.4500 Mauritius rupees) (Reporting by Jean Paul Arouff Editing by Aaron Maasho/Mark Heinrich)

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