Economic growth is based on multiple factors and drivers. One key driver is investment, which has a ripple effect on numerous fields, including employment, revenue generation for citizens and governments, as well as infrastructural and social development. Governments worldwide hence have a challenge to meet, in providing the right environment for promoting investment through the setting up of businesses, whatever be their scale.
Countries hence want to promote domestic investment and attract FDI. To foster efficiency and attractiveness in this regard, governments are revamping their processes for business registration. In this context, company registrars are deploying information and communication technology (ICT) applications so as to reduce the time and effort required for new businesses to register, improve regulatory oversight by government and facilitate access to company information.
The first stage of the life cycle of a business starts at the business registration level and, in order to encourage new business, the registration process needs to be very fluent and efficient.
– World Bank Group, Doing Business 2015
The Corporate and Business Registration Department (CBRD) key role is facilitating and speeding up the registration and monitoring process for businesses. Our system has contributed to Mauritius being the leader in the region in terms of number of days needed to start a business. During the last decade, the average number of days needed to start a business in Mauritius has decreased from 46 days to 6 days.