His Excellency the Ambassador of Japan, Mr. Shuichiro Kawaguchi,

The Chairperson, Business Mauritius, Mr. Vidia Mooneegan,

The Chief Executive Officer, Business Mauritius Mr. Kevin Ramkaloan,

The Director, Statistics Mauritius, Ms. Li Fa Cheung Kai Suet,

Members of the Diplomatic Corps and UN family

Members of the Business Community, Senior Officers of different Ministries

Members of the Press

Distinguished Ladies and Gentlemen – All Protocol Observed

Good Afternoon – Bon après midi!

Thank you for having made time despite your busy schedules for this event.

Almost nine months ago, the world came to its knees when the Covid-19 pandemic hit, affecting every single function in society. We have been caught in the word’s worst pandemic that has affected the lives of billions of people, putting everything we do to the test. We are all here today to hear about the scale and scope of disruption that this pandemic has had on businesses in Mauritius.

At the beginning of the pandemic, the IMF projected the global economy to contract by 3% and revised to 4.4% in October 2020 following the debilitating impact on economic activity1. This will be accompanied by elevated unemployment in 2020 and 2021 across both advanced and emerging market economies. For the second quarter of 2020, the International Labour Organisation2 estimated a loss of 305 million full-time jobs globally, disproportionately affecting the workforce in the private sector

The impact of the pandemic could be felt even more in Small Island Developing States (SIDS) including Mauritius. Most of us may agree that any form of disruption to the global system has far-reaching follow-on effects on Island economies given their heavy dependence on regional and international markets. And if we agree, then a disruption at the scale of the COVID-19 pandemic undoubtedly poses a graver threat to the functioning of the SIDS more than it does to mainland economies.

Ladies and Gentlemen,

This pandemic has presented businesses with many challenges ranging from unparalleled disruptions in supply chains, the sharpest fall in demand for firm output since the great depression3, significant cashflow constraints, among others that you the practitioners are best placed to highlight during this dialogue.

Building back better, will, for the most part, call for efforts to strengthen the functioning businesses to facilitate recovery. It is at this point that I must applaud the Government of Mauritius for having acted swiftly to extend unwavering support, through the comprehensive and inclusive stimulus package, to protect people from the disastrous impact of the pandemic while in equal measure ensuring that enterprises are supported to remain in business. Because while people must survive and indeed thrive, businesses must also remain afloat to support this survival. The two must work in tandem.

Businesses are an important avenue for building a resilient economy through generating and sustaining employment, enhancing productivity growth, and guaranteeing support of goods and services that cushion the economy in case of challenges in the global supply chain.

While the challenges are glaring, the pandemic has presented several opportunities that business must consider, to reengineer processes and emerge successfully in the new normal. Since the onset of the pandemic, several businesses have exhibited creativity in the way they serve their people, including embracing digitalisation and repurposing their operations to respond to the pandemic.

As we continue to absorb the new realities, I urge the business community to hold dialogues of this kind to continuously reflect on several issues that concern recovery, for instance:

1. What the new normal will look like for the Mauritian businesses and how your corporate agenda will evolve;
2. How consumer priorities and supply chains will evolve and the readiness of your businesses to ensure your product lines remain relevant to the dynamic market, both locally and globally;
3. The policy reforms that are critical to resuscitate businesses.

The purpose of the survey we are here to deliberate upon was to collectively establish credible baseline information to facilitate dialogue on these issues, including to contribute to evidence-based decision making for sustainable economic and social development.

For the immense effort in establishing this survey, allow me to salute the Management of Business Mauritius and the National Statistics Bureau for looking out to UNDP as a trusted partner to support this effort.

Our support to this process is built with the UN Secretary Generals ‘call on the United Nations system to support multi-sectoral response efforts at country level. In Mauritius, the United Nations’ Socio-Economic Recovery Plan entrusted UNDP to provide technical leadership on recovery efforts. 

Our support to this survey would not have been possible without the financial assistance that the Government of Japan extended to UNDP to support the people of Mauritius in dealing with several recovery challenges related to COVID-19. We are so grateful to the People of Japan for this generosity.

Ladies and Gentlemen,

UNDP is especially pleased that with the strategic partnership established, the Country Office has been able to capitalize on at least 4 Goals contained under the 2030 Agenda; which are Sustainable Development Goals- SDG 8 (Decent Work and Economic Growth); SDG 9 (Industry Innovation and Infrastructure); SDG 11 (Sustainable Cities and Communities); and SDG 17 (Partnerships for the Goals) and SDG 5 (Gender Equality).

Ladies and Gentlemen,

As we are left with only one decade to achieve Agenda 2030, the key findings and recommendations of the Business Pulse survey being launched today should be viewed as baseline data to guide

I encourage Business Leaders and representatives of Government, to take into account the results of the Survey to ensure business continuity for rapid recovery and timely resumption of operations. Guided by evidence-based data, I am convinced that Businesses will evolve with a high level of confidence towards a resilient recovery.

As we proceed with an honest dialogue,

I would like to invite you to reflect on the gendered implications of the pandemic. These should not be overlooked, as more women invest in small businesses. Hence, the needs of women in small businesses should also be considered in policymaking processes or formulation of special initiatives for dynamic and inclusive recovery. On this note, I wish you a fruitful dialogue. I thank you- Merci.