The Seychelles' Economy has an
exceptional infrastructure and offers many advantages such as:
Geographical and stable climate (cyclone free zone)
Favourable time zone (GMT +4)
Deepest Sea Port of the region
Modern Airport
Reputable, Efficient and Modern Banking System
Advanced & International Telecommunications
Stable Currency
Low Inflation
A Healthy and Educated Workforce
The International Business Companies Act 1994 introduced by the Seychelles Government provide for one of the most modern and flexible legislation governing the formation and operation of offshore companies.
Taking into consideration the enactment of this Act and the above factors which contribute to the infrastructure of the country there are the basis for reliable investments in the Seychelles. The parties interested may seek professional advice from the Seychelles Development Bank (SDB) or the Investment Bank.
The financial sectors that are proposed for investment by the bank are:
INVESTMENT OPPORTUNITIES
The Seychelles offers a variety of investment opportunities in various industries such as:-
a)Agriculture: This industry accounts for 5% of Seychelles GDP and the country
is a net importer of fresh produce. A series of motives are offered such
as machinery and other items that can be imported into the country free of
any duty tax. Also, the declared farmers at the Ministry of Agriculture enjoy
a tax-free income scheme.
b) Research Farms: Through this process, the Ministry hopes to develop the
cultivation of non-traditional crops such as watermelons, cantaloupes, mandarins
and tangerines. The sector is thus geared for growth and the Ministry welcomes
private investment, confident of the scope not only to meet local demand
but also for exports. Already, the local cinnamon, coconuts and vanilla are
generating international interest since they are produced without any chemical
additives or insecticides.
c) Livestock: While fresh fish remains the preferred option, the tourism
industry and the changing lifestyle of the local population have resulted
in a higher consumption of other forms of meat. The farming of chicken for
both eggs and meat has been very successful. Pork production is an area that
has seen considerable development over the last 20 years. Traditionally,
pigs were fattened in a domestic situation and the meat consumed on special
occasions. In the 1980's for hygiene reasons and environment protection,
the activity was licensed and controlled. Since then the concept of pig farms
for the commercial production of pork has been encouraged. While the methods
are proving to be successful, production is inadequate to meet local demand
and there is scope for more pigs and better technology.
d)Animal feed factory: The Ministry of Agriculture controls the gene source
of pigs, chicken and cattle, the breeding and fattening of livestock is privately
managed. Cattle farming are insignificant and the majority of the beef is
imported, while milk imports represent 98% of local demand. The Ministry
of Agriculture is keen to promote the farming of cattle for meat as well
as birds such as ducks and turkeys in order to reduce the country's dependency
on imports.
e) The fishing industry is the largest foreign exchange earner after tourism
for the economy of Seychelles. Industrial fishing for tuna and tuna-like
species is carried out in deeper waters offshore by a combination of foreign
and locally owned vessels. The fishing of lobsters is permitted for restricted
periods of the year in order to preserve the stocks. Apart from local demand,
this sector is contributing increasingly to exports. The Seychelles Fishing
Authority (SFA) carefully monitors this industry in order to prevent over-fishing.
Despite the number of vessels currently licensed, the SFA is of the opinion
that there is scope for more long-line fishing activity, in particular long-liners
targeting deep-swimming tuna and swordfish. The cultivation of pearl oysters
has generated great interest both locally and abroad since research indicated
abundance of pearl oyster spat.