Forum explores ways to ease business climate |30 May 2014

Managers, owners and representatives of businesses and potential investors yesterday took part in open discussions with government decision-makers in an effort to explore ways to further improve the ease and environment of doing business in Seychelles.

This was during a national investment forum organised by the Seychelles Investment Board (SIB) and its partners in collaboration with government.

Vice-President Danny Faure launched the discussions during a ceremony at the International Conference Centre (ICCS) which was attended by the Minister for Finance, Trade and Investment Pierre Laporte, key government officials, members of the business community among other guests.

During the opening ceremony an agreement was signed between the SIB and Trop-X (Seychelles) Limited, a securities exchange company.

The chief executives of the two bodies Rupert Simeon and Bobby Brantley respectively signed the agreement.

The agreement forms part of SIB’s outreach programme to work more closely with its different partners both locally and abroad and this through strengthening collaborations.

Speaking after the signing Mr Brantley said Trop-X is very excited for the opportunity to work with the SIB noting that he is looking forward to the different ideas and various outcomes that will come out of the forum as they will no doubt be very beneficial for the economic development of the country.

For his part Mr Simeon noted that the agreement is only the first as others are being negotiated with local and international based companies.

A revamped website which forms part of the SIB’s recently updated and upgraded promotion tools and material was also re-launched during yesterday morning’s opening ceremony.

Mr Simeon said the website is another example of how using IT can make investment policy guidelines more accessible to the public as the website can be accessed through smart phones.

Addressing guests and those taking part in the discussions, Vice-President Faure said the forum was an opportunity for both the public and private sectors to make an assessment on existing policies and how these policies are impacting on their business and ultimately the growth of the Seychelles economy.

“While making this assessment we will welcome your input which will allow the Minister for Finance, Trade and Investment the opportunity to fine tune and make the necessary adjustments where there is a need,” added VP Faure.

He pointed out that as the Ministry of Finance is spearheading a team to prepare the country’s national development plan 2015-19, the  recommendations, views and other inputs coming from the forum will be explored and taken into consideration.

“We remain concerned with the present business climate and we all agree that it needs to improve and needs to be fixed. This forum will give a new momentum and new impetus to tackle the persistent bottlenecks impeding the ease of doing business in our country,” he stressed.

He noted that government has already taken steps in this direction and these include introducing the Insolvency Act , the online Vat return and business activity statement, the Asycuda programme, among others.

He remarked that while many may feel that these are not enough, others may feel that only some of the problems have been fixed while others believe that we should remain focused on what we have achieved and consolidate our gains.

He further stressed that fixing the problems in this area is a collective endeavour, the outcome of which is of mutual benefit where the country stands to gain.

He expressed the hope that the forum will serve this purpose.

Among the different topics of discussion in the forum were policies and procedures governing investment approval in sectors like construction, financial services, fisheries, ICT, renewable energy, tourism, trade and transport.