Seychellois and Russian businesses discuss opportunities |28 November 2014
Seychellois and Russian business representatives are since yesterday discussing present and future business opportunities. This is being done through the first Seychelles-Russia Business Forum to be held here.
The three-day forum which falls in the context of Seychelles Investment Bureau’s (SIB) investment initiative is being held at the Eden Bleu Hotel at Eden Island under the theme ‘Many nations one language’.
It was officially launched yesterday morning by the Minister for Finance, Trade and Investment Pierre Laporte in the presence of the Ambassador of the Russian Federation Vladimir Belous.
Minister Laporte reminded that since Seychelles entered into diplomatic relations with Russia in June 1976, the country has benefited from a number of economic cooperation initiatives.
He said that both Seychelles and Russia have achieved major economic growth in recent years.
“Like Russia, Seychelles has gone through a major economic transformation from a centrally planned to a modern economy based on market fundamentals.
In particular, major macro-economic reforms since 2008 have today led to Seychelles being ranked among the top African countries in attracting Foreign Direct Investment (FDI).
The government’s strategy is to continue to attract both corporates and High Net World Individuals through the various initiatives and investment opportunities on offer,” he said.
The minister singled out some of those highly reputable investors from Russia who have established their presence in Seychelles, in key sectors such as tourism and fisheries. He stressed that those along with oil exploration, renewable energy and the financial sector remain areas of opportunities.
The Russian ambassador confirmed that Russian businesses have long been firmly established here. He was thankful to the Seychelles’ government for having “created most favourable conditions for the development of foreign economic activity on the islands.”
He added that the presence of Russian companies has created new jobs for his compatriots and Seychellois alike. He is hopeful that the economic cooperation between the two countries will continue to grow.
“I am sure that all these initiatives, coupled with business activity and Russian entrepreneurship, including the delegates to today’s meeting, will bring better results in the form of active growth of bilateral cooperation, new joint ventures not only in tourism and fishing but also in the sphere of high technologies and manufacturing of high-tech products,” the Russian ambassador said.
Among the forum’s key speakers are the Governor of the Central Bank Caroline Abel, Minister for Natural Resources Peter Sinon, principal secretary for Trade and Investment Dr Steve Fanny, principal secretary for Tourism Anne Lafortune and the chief executive of the Seychelles Investment Board Rupert Simeon.
They will be joined by other executives and prominent Seychellois and Russian businessmen currently doing business in Seychelles.
During the forum’s launch ceremony, Seychelles and Russia signed a business partnership memorandum of understanding (MoU). Mr Simeon signed for Seychelles while the chairman of the Russian Council in Dubai, Igor Egorov, signed on the Russian side.
The Seychelles-Russia Business Forum is also an opportunity to attract more Russian investors to Seychelles. As goes an investment slogan in Russia: ‘Invest in the Seychelles, your world of investment opportunities’.