The setting up of the Mauritius Institute of Biotechnology Ltd (“MIBL”) with a seed capital of around USD 25 million was announced by the Government of Mauritius in the 2021-2022 budget speech. The mandate of the MIBL was extended during the 2022-2023 budget speech to include more segments beyond vaccine manufacturing as mentioned below. In order to fast track the development of the pharmaceutical industry in Mauritius, an Inter-Ministerial Committee has been set up. A Technical Committee under the chairmanship of the Financial Secretary comprising of relevant stakeholders has identified short-, medium- and long-term priorities which relate to the below but are not limited to: Cultivation and production of nutraceutical products; Setting up of Clinical Research Organisations for performing clinical trials; Setting up of Centres for performing pre-clinical trials on animals; Regional Central Labs for servicing regional clinical research organisations; Setting up of Research and Development Centres for pharmaceutical development and testing; Manufacturing of Active Pharmaceutical Ingredients (APIs); Manufacturing of medical devices; Setting up of back-office facilities for distribution and/or minor manufacturing and packaging of pharmaceutical products for the region; Setting up of manufacturing facilities for therapeutic products against prevalent local and regional diseases such as diabetes, measles, cholera, cardiovascular deficiencies, among others; Setting of vaccine production facilities; Setting up of genomic testing facilities; Setting up of bottling and packaging facilities for pharmaceutical products. For more information, we invite you to contact the Business Development Team by email at bd@juristax.com or call them on + 230 465 55 26.

The concept of Variable Capital Companies (VCC) was introduced in Mauritius in order to enhance the competitiveness of the financial services sector.

The Financial Services Commission (FSC) has recently made a few amendments to its Competency Standards.

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