By Shruti Menon Seeboo
In the heart of economic development discussions, a pivotal conversation unfolded on April 24th in Mauritius. A panel discussion, organised by a collaborative effort between AmCham Mauritius, Mastercard, and the US Government, tackled the critical question of leveraging public-private partnerships (PPPs) to drive social and economic growth. The distinguished panellists, brimming with insights, explored the potential for collaborative efforts to unlock a new era of sustainable prosperity for the nation.
The conversation kicked off with a focus on attracting foreign investment, a cornerstone for economic advancement. US Ambassador Henry V Jardine highlighted the significance of streamlining bureaucratic hurdles, particularly those related to permitting processes. He emphasised the need for a system that facilitates business operations, fostering a sense of transparency and predictability for potential investors. Ambassador Jardine further stressed the value of ensuring fair treatment for businesses, a crucial element in building trust and confidence. He pointed to the positive impact of robust legal frameworks that guarantee a level playing field for all actors, regardless of origin.
The discussion then delved into knowledge sharing initiatives as a catalyst for attracting foreign investment. Ambassador Jardine lauded exchange programs and university partnerships as effective tools for fostering a two-way flow of knowledge and expertise. These programs, he argued, can equip Mauritian businesses with the skills and insights necessary to compete on a global scale, while simultaneously exposing foreign investors to the potential of the Mauritian market. Imagine a young Mauritian entrepreneur, through an exchange program, gaining invaluable experience in Silicon Valley’s fast-paced tech scene. Upon returning, they could leverage that knowledge to develop innovative solutions for the local market, attracting international attention and investment.
Shifting gears, the conversation turned to the critical need for promoting sustainable development. Legal expert Robin Mardemootoo underscored the importance of a two-pronged approach: regulations and financial incentives. He acknowledged the role of regulations in setting clear boundaries and ensuring environmental responsibility.
As an example, Mardemootoo cited the Paris Agreement, a landmark international treaty aimed at curbing greenhouse gas emissions. However, he also emphasised the limitations of regulations alone. To truly incentivise a shift towards sustainable practices, Mardemootoo advocated for the implementation of financial incentives. He pointed to the Inflation Reduction Act in the US as a prime example. By allocating $370 billion in subsidies to promote green technology, the US government has sent a clear message: going green can be not only environmentally responsible but also financially rewarding.
Dr. Ayeshah Fauzee, the panel moderator, then steered the discussion towards public policy’s role in fostering entrepreneurship, particularly among women and youth. Ashvin Krishna Dwarka, a senior legal partner, emphasised the importance of creating a level playing field through policies that uphold freedom and equality. He argued that a robust legal framework that protects these fundamental rights is essential for fostering a thriving entrepreneurial ecosystem. Dwarka pointed out that a free market cannot flourish without laws that protect private information and secure the freedom to enter into contracts.
Additionally, ensuring the freedom of expression is critical for encouraging innovation and allowing entrepreneurs to bring their ideas to life. Imagine a young woman in Mauritius, inspired by a robust legal framework protecting her rights, developing a revolutionary app that empowers local artisans. This not only fosters economic growth but also paves the way for a more inclusive and equitable society.
However, Dwarka acknowledged the need for a balanced approach. While these freedoms are essential, they cannot be absolute. Reasonable restrictions, such as permitting requirements, are necessary for maintaining a well-functioning society.
A central theme that emerged throughout the discussion was the critical role of PPPs in achieving successful policy implementation. The need for transparent dialogue and collaboration between the public and private sectors was highlighted. The panellists discussed that by working together, government and private businesses can leverage each other’s strengths, maximising the impact of policy initiatives. Imagine a public-private partnership aimed at developing renewable energy solutions for Mauritius. The government could provide regulatory support and access to public land, while private businesses could contribute their expertise and financial resources. This collaboration could propel the nation towards a more sustainable future.
Mardemootoo took this concept further, proposing the establishment of a “school of public policy” in Mauritius. Such an institution, he argued, would cultivate a shared understanding of policy goals between public and private actors. By fostering dialogue and breaking down silos, this school could act as a bridge, facilitating collaboration and ensuring that PPPs are built on a foundation of mutual understanding.
The concluding remarks underscored the need for increased engagement, knowledge sharing, and transparency regarding public policy. Panellists emphasized the critical role of public education in ensuring that citizens understand the intricacies of policy and actively participate in shaping their nation’s future.
The discussion concluded with a resounding message of optimism. Through collaborative efforts, a commitment to knowledge sharing, and a focus on fostering a business-friendly environment, Mauritius can leverage the power of public-private partnerships to navigate the challenges of the 21st century and emerge as a leader.
