‘Boosting public-private partnership is key to success’ |09 September 2010

Minister for Investment, Natural Resources and Industry Peter Sinon made this clear during a recent interview with Nation in which he spoke of his plans for the new ministry one month since he was appointed.

Mr Sinon, who aims to bring all the core functions of his ministry under one roof, said he wants to introduce new schemes to open doors for businesses in fisheries and agriculture, and encourage more investment so new industries can flourish.

“Agriculture and fisheries are two vital sectors that can benefit more from new technical services that we have to provide in the near future,” he said.

Agriculture suffered during the economic reform programme, and some farmers even quit to join other professions, but many have now gone back to the business, Mr Sinon said.

He said is it is important to promote the public and private sector partnership in this field – a good example being the animal feed factory on Bois de Rose Avenue, which is being run by the farmers’ cooperative.

Services for farmers should be improved, and there is also a need for a good store where they can get all the necessary resources.

“Our focus is on productivity, but we do not have enough land so we have to protect the little we have by making maximum use of it,” he explained.

And it is vital for us to ensure our food security as recently “we have seen the volcano problem in Europe, which delayed flights, and the flooding in Pakistan from where we import our rice”.

Food security is a must in case one day we find ourselves in a desperate situation, he added.

The minister said a symposium will be held here in October so we can see what we have accomplished, reset our priorities and adopt new strategies.

Regarding fisheries, he said we have industrial, semi-industrial and artisanal fishing, and now there is the upcoming mariculture project which is attracting much interest.

A grant of about US $400,000 from the African Development Bank has been allocated for a study on this activity, which has such great economic potential.

Mr Sinon stressed that at all levels we need to have sustainable fishing and control; good management is vital, with the help of fishermen.

They are the ones who go out fishing and they are the ones who can give us better statistics on the fish in our waters, he added.

And like the farmers, it is also necessary for fishermen to have a place where they can get their working materials at reasonable prices.

Mr Sinon said another international conference on fisheries – this time with more than 50 ministers, their assistants and ambassadors taking part – will be held in Seychelles in the near future.

With regard to industry, another portfolio that falls under his responsibilities, Mr Sinon said there are many challenges ahead.

“We have to classify the different types of industries from small to medium enterprises – big investments go to the Seychelles Investment Bureau and smaller ones to the Small Enterprise Promotion Agency (Senpa),” he added.

Senpa is the first port of call for most small entrepreneurs, and it should take the first step in providing support and much-needed services.

“Senpa can introduce a system to help these businesses to keep their records and tax in order, and also provide other administrative help at an affordable rate,” said Mr Sinon.

Another scheme he has in mind is to classify businessmen in the country and give them a credibility rating. This will be based on merit and performance, and will help to increase productivity and entrepreneurship.

“This is what we need to adopt in our industries to allow us to compete better in other industries apart from fisheries,” he said.

The minister said some commercial banks have refused to bring down their interest rates and have not responded to market signals.
 
“One conclusion is that they have doubts about the ability of our people to do business and do it well,” he said.
 
Banks are not engaging in the economy to build up industry and entrepreneurship “and so we have to show them what we can do, as it is only afterwards that we will see a dynamic economy”.

Mr Sinon added that an investment forum will take place in Belgium soon, and this will also help to promote Seychelles as a good business and investment destination.