IMF mission gets views of private sector |29 September 2014

A visiting delegation from the International Monetary Fund (IMF) headed by C. Marshall Mills, recently met members of the Seychelles Chamber of Commerce and Industry (SCCI).

The SCCI delegation comprised its chairman Marco Francis, secretary general, several councillors, as well as some members of the business community.
As usual, the IMF meets the SCCI everytime it is in Seychelles to have the views of the private sector.

The items on the agenda focused mainly on the real economic growth, the Seychelles Rupees, monetary and fiscal policy, the cost and ease of doing business in Seychelles.

Discussions were also carried out on other economic sectors like financial services, fisheries, small and medium enterprises (SMEs), production and the tourism sector, particularly new hotel developments and air transport.

The new local airline being promoted by Intershore Aviation Ltd was also discussed. Mr Francis said he strongly encourages this private enterprise as long as it meets all the necessary criteria.

“SCCI believes that we must have direct air transport to our main market, which is Europe,” said Mr Francis.
The IMF delegation said they believe it is a healthy practice to encourage the private sector to invest in their own country.

The SCCI also brought up the very pressing point of Corporate Social Responsibility Tax (CSRT), Tourism Marketing Tax (TMT) and touched on the private sector concern regarding the Seychelles Trading Company (STC) in retail and the large expansion of its trade.

Contributed