SEYCHELLES – In late 2008, Seychelles embarked on a comprehensive reform program with the support of the IMF, World Bank, and the African Development Bank respectively.
A little over one year into the reform program, the Seychelles has successfully liberalized the exchange regime, with the rupee stabilized and on course to be counted among the best practices of prudent monetary policies. Significant fiscal adjustments, with substantial debt rescheduling and relief, have also been part of the successes of the comprehensive reforms launched in partnership with the other stakeholders.
The conditions are right for Seychelles to now resume a path of growth, and there is a need to reach out to investors and to consider new avenues as Seychelles start exploring new markets to continue its efforts to further diversify the economy in line with reducing the role of the state and encouraging private-sector activity.
The government of Seychelles, through the Seychelles Investment Bureau (SIB) is organizing a series of “International Investment Forums,” under the theme “Paving the way for sustainable and long-term investment in Seychelles.” The first forum takes place at the Husa President Park Hotel, in Brussels, from September 16-18, with a second chapter in New York expected to follow thereafter.
The aim of the International Investment Forums is primarily to provide potential investors with information on Seychelles and its investment opportunities, as well as its business and economic climate. Given the strategic location of Seychelles in the South Western Indian Ocean, its political stability and legislative, administrative, and investment framework, along with the recent important changes in its economic landscape now has the potential of becoming one of the most sought-after destinations for investment opportunities.
The participation of several local investors and agencies dealing directly with investments will also establish a direct and effective, interactive platform between themselves and any potential international investors. The forum promises to be a fine example of private/public sector cooperation and will be the launching platform for the Seychelles Investment Bureau (SIB) in promoting investment opportunities in Seychelles.
The forum in Brussels will be targeting potential investors from the European Community, Northern Africa, the Middle East, and Russia, respectively, with interest in tourism, fisheries processing, aquaculture, the financial and offshore sector, and property development respectively.