Mauritius and Saudi Arabia forge new ties with a housing project and enhanced cooperation
This week saw the deepening of relations between Mauritius and Saudi Arabia with the signing of a significant agreement. The newly appointed Saudi ambassador, Fayez Meshel Altemyat, met with Mauritius' Foreign Affairs Minister, Maneesh Gobin, to discuss strengthening bilateral ties. The ambassador emphasized the growing interest from Saudi investors in Mauritian markets and highlighted the importance of better air links between the two nations. A key aspect of their meeting was a $50 million agreement funded by the Saudi Fund for Development to build 3,000 social housing units by the end of the year.
Mauritius sees significant increase in national reserves
Recent figures from the Bank of Mauritius show a notable rise in the country's official international reserves, which reached Rs 337.9 billion at the end of April 2024. This marks an increase of Rs 14 billion since January and Rs 47 billion year-over-year. These reserves now cover 11.1 months of imports, indicating robust financial management and economic growth. Notably, gold reserves have also climbed to Rs 43.17 billion, further bolstering Mauritius' economic stability.
Mauritius advances in SIM Card re-registration efforts
At an Artificial Intelligence summit at Le Meridien Hotel, Jérôme Louis from the Information & Communication Technology Authority (ICTA) shared that 1.3 million out of 2.3 million SIM cards have been successfully re-registered. This move is part of broader efforts to enhance the management of communication services across Mauritius.
