Business Opportunities in Seychelles

Tourism Sector

The industry should benefit from the inauguration/ construction of a number of `five star' resorts (Sun International, Beachcomber, Banyan Tree, Sofitel) in the next year or two.

• By virtue of being foreign exchange earners themselves, hotels (particularly the major ones) have some access to foreign exchange reserves for their transactions.
• Furthermore, the 5 star hotels are in principle permitted to import freely (including the Seychelles Marketing Boards Monopoly goods).

  Fisheries: Fish is an abundant resource Seychelles; the Heinz/Government of Seychelles cannery joint venture has expanded production in the past year and is doing very well. It represents a good buyer for all sorts of related equipment.

  There may be scope in the fish processing field.

  Consumer items: As and when the centralised procurement of essential foodstuffs etc. through the Seychelles Marketing Board is relaxed, there will be a rush to find new suppliers of a range of foodstuffs ranging from the regular to the luxury (for hotels), by other companies.

Fisheries Market in Seychelles

Fisheries is the most important industry in Seychelles. It brings in the most foreign exchange earnings and employs the most people. Nevertheless, up until recently, it has taken a back seat to the more glamorous tourist industry in terms of government and popular perception of which industry is most important to the Seychelles economy. That attitude appears to have begun to change over the last few months as the foreign exchange crisis has deepened. Industrial unrest in the fisheries sector earlier this year woke up many in government to the importance of the fisheries sector and the need to protect it. There was a meeting called in mid-March regarding fisheries, attended by all the Chief Executives and Principal Secretaries. Presentations were given by all those involved in different aspects of the fisheries industry to highlight the importance of the industry. Those in the industry would like to see similar concessions on access to foreign exchange as those currently enjoyed by the tourism industry. It is possible that, following this meeting, there might be more constructive co-operation between those involved, so that the importance and value of the fisheries sector can be marketed overseas and more effective lobbying can be carried out locally and in international fora.

Source: U.K. Trade & Investment Website