(March 2006). - Seychelles Investment Board

YOUR INVESTMENT FACILITATOR
M ARCH 2006
I SSUE 1 • V OLUME 2
Seychelles First-Ever Business Directory Published
T
he Seychelles Investment Bureau has published the Seychelles Business Directory. This
2006 edition, the first of its kind to be published in the country provides
comprehensive details of over 200 local businesses, contacts of all Government agencies,
as well as resident diplomatic missions, consulate representatives in Seychelles and various
associations. The directory is an annual publication and it will be circulated worldwide.
The Bureau would like to take this opportunity to thank all the businesses and all the
stakeholders who have contributed to the realisation of this directory.
SIB would also like to extend a personal invitation to those businesses who did not
participate in the first one, to register in order for them to feature in the 2007 edition as
this will be a good opportunity for them to promote their products and services.
The directory can also be accessed on the SIB website (www.sib.sc).
The newly published SIB
Seychelles Business Directory
................................................................................................................................................
Seychelles: Your Business Guide
Business-Match Making Opportunities
A
A
s part of its promotional efforts, SIB has published a business
information pack entitled: Seychelles: Your Business Guide.
The guide serves to provide potential investors with useful
information that can assist them to start and conduct business in
Seychelles. It contains information on many pertinent issues
including: Immigration, Registration and Incorporation of
Companies, Licensing, Taxation, Social Security, Insurance,
Customs and Trade, Banking, Manpower, Incentives, Land and
Basic cost of Operation.
The Pack also carries several other business promotional
materials including the SIB flyer, the Business Directory 2006, the
Investment Code of Seychelles Act 2005, the incentives such as
Tourist Incentive Act , Fisheries and Agriculture Incentive Acts.
2
3
• Editorial: J A Nourrice (SIB)
• SIB Project/Status by category
• Investment Code Act 2005 launched
• State-of-the-Nation Address (2006)
• Seychelles Maritime Security
re you thinking of starting a new business but would like to do
so in partnership with someone else? Are you an existing
business with plans to expand, but do not have the capital, or
expertise to do so?
Since the launching of the SIB's website foreign and local
businesses and individuals have shown their interest for partners
in the following business areas: fishing, tourism, agriculture,
industrial and IT.
SIB has also received requests from overseas companies seeking
to establish trade relations with local partners, to include
dealers and importers of various commodities.
For those interested and for ease of submission, the form can be
filled online through the SIB website (www.sib.sc) under the
section Investment Opportunities/Business-Match Making. The
submitted details will then be posted on SIB website for free
promotion. Potential partners or existing businesses interested
would then contact you directly to discuss business further.
• President Michel’s
official visit to Qatar
4
5
• Interview with Peter
Durup (MD-Kokonet)
• Protection of Sea
Cucumber
6
• New Fisheries Committee
• Import Licence Fee reduced
• More financial support
from BADEA
• Commercial Bldg. Guideline
• SEEP goes Online
• Int’l Agreement (Updates)
• African Union (AU) Summit
• Int’l. Relations: Foreign
Ambassadors accredited
• WAIPA Conference
7
8
2..................................................................................... General News
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
In its quest to turn Seychelles into a viable business
destination, SIB is working closely with other
international institutions such as FIAS and UNIDO
and participates in international forums. As a new
member of WAIPA, SIB was represented at its 11th
annual meeting held in Geneva, Switzerland at the
beginning of March 2006.
SIB moved to its new premises late last year which
provide a more conducive environment. The
opening of the office on Praslin is to further bring the
services close to the business community as
facilitation is the cornerstone of our raison d'être. In
its endeavour to strive for excellence, SIB is
committed to equip its small but dynamic team with
the necessary training and exposure both on the
local and international fronts in order to continue to
deliver an efficient, professional and quality service
to our clients.
As we celebrate Seychelles, let us make 2006 a year
of notable achievement on the quality of investment
with long term sustainability.
J A NOURRICE
Chief Executive Officer
Seychelles Investment Bureau (SIB)
IT related project
12%
Industrial
Art & Craft
13%
Commercial / Residential /
Mix Use Development
Tourism-related
SECTOR
Approved
Import Zone
& Duty Free
IT related
Commercial/
Residential
development
100
80
60
40
20
0
Others
Others
54%
Industrial
Tourism remained the pre-dominant sector with the
most projects submitted to SIB in 2005 and the trend
continued in the first quarter of 2006. Investment
possibilities exist in other sectors including
industrial, commercial, agricultural, fisheries and
health-related projects and SIB is putting a lot of
emphasis in an effort to attract new and viable
projects. This year looks even more promising and
SIB will continue to explore and evaluate potentials
to further enhance the economic base and the
investment climate in the country. Through its
website, members of the public can be apprised of
the investment opportunities available and
potential business match-making through joint
ventures. Investment by Seychellois continues to
increase and the Bureau is encouraging more
Seychellois to take the opportunity to invest more
either alone or through joint venture possibilities.
4%
2%
Tourismrelated
Last year had been a challenging year for the
Seychelles Investment Bureau and amid its many
constraints, it succeeded in meeting its strategy of
streamlining and expediting the processing of
investment projects. This will be further
consolidated with the Investment Code Act which
came into force in January 2006 and once again SIB is
calling on all its working partners to work closely
together to fulfill the obligations under the Act.
15%
% OF PROJECTS
elcome to the 1st edition of the newsletter
for the first quarter of 2006.
SIB PROJECT BY CATEGORY
W
SIB Project/Project Status by Category
PROJECT STATUS BY CATEGORY
EDITORIAL
Not Approved
F
or the year ending December 2005, SIB received 268 project proposals of which a total of 203 projects amounted to an investment value
of SR5,165,491,352 were approved.
Between January and March 2006, 52 projects were submitted to the
Bureau. These include tourism-related (27), industrial (6), Commercial/residential development (7), art & craft (1), IT-related (2), transportation (1) and others (8).
Based on the above figures, tourism-related projects to include hotels,
tourist-guide, hire craft restaurant/cafeteria and watersports) remains
the most submitted.
Out of the 52 new projects received by SIB for the first quarter of 2006,
100% of the IT-related and import zone/duty free projects, over 80% of
the industrial and commercial/residential development, 60% of the
tourism-related projects and over 40% of the others were approved. The
remaining projects are in various stages of processing.
The launching of the
Investment Code Act 2005
O
n 24th January 2006, the Seychelles Investment Bureau organised a
meeting to introduce the Investment Code Act 2005 to the public
sector and consulting agencies. The meeting which was through a
working session looked at the administrative and legal implications that
the Code would bring.
The Act, which came into force on 16th January 2006 seeks to provide a
conducive business environment for both local and foreign investors and
also safeguard their interest in order to encourage a greater flow of
investment and re-investment in the Seychelles.
General News
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
3
.................................................................................................
President James Michel's
official visit to Qatar
STATE-OF-THE-NATION ADDRESS
2006 HIGHLIGHTS
President James Michel presented his second state-of-theNation address on 28th February 2006.
I
n February 2006, the President visited the State of Qatar,
at the invitation of the Amir of Qatar His Highness Sheik
Hamad Bin Khalifa Al-Thani, where he held talks with high
level officials. Amongst topics discussed were the
possibilities to further enhance investment opportunities
from Qatar into Seychelles.
Below is a summary of the speech vis-à-vis the new
measures that the Government will be implementing in its
continuous effort to create and promote an enabling
investment/business environment in the Seychelles.
..................................................................
(For the full version of the speech, visit: www.sib.sc)
Exemption on business tax for businesses earning less than
SR 250,000 profit per annum;
he National Statistics Bureau (NSB) recorded a drop in
the inflation rate for the year 2005. According to the
Retail Price Index for January 2006, the average rate of
inflation for the twelve months ending December 2005 was
0.9% compared to 3.9% in 2004 and 3.3% in 2003. The
inflation rate remained below 4% throughout the year 2005.
The setting up of a stock-brokering company;
..................................................................
Trades tax reduction on through-puts, semi-finished goods
and certain capital items for small businesses;
Inflation rate decreased
T
The introduction of a competition policy;
The reviewing of certain legislation including the Companies Act, Licensing Act, Tourism Incentives Act, Employment
Act;
The establishment of an insurance scheme for farmers;
The updating of the Anti-Money Laundering Act;
The introduction of a Human Resources Development Council Act.
Seychelles Maritime Security
S
ome 30 participants representing both the public and the
private sector attended a 3-day workshop on maritime
security organised by the Maritime Safety Administration in
collaboration with the International Maritime Organisation
(IMO). The objective of the seminar was to continue the
awareness of the implementation of the International Ship and
Port Security (ISPS) code and to maintain the security standard
achieved or even make it better to continue to attract ship
owners and operators to use Port Victoria.
The code came into force on 1st July 2004 which is mandatory
under the Safety of Life at Sea convention and it is the duty of
governments, port authorities and shipping companies to
implement to ensure the security of the global shipping network.
Both the commercial port of Victoria and the fishing port were
certified ISPS compliant in 2004 and 2005 respectively.
..............................................
Consumer Protection Unit created
C
onsumers who feel their rights have been abused, now
has an office where they can go to lodge their grievances
and complaints. A new unit was created in December 2005
under the Department of Finance and its principal role is to
enforce the Consumer Protection Act (1997). This unit will
complement the work of NATCOF. Their main tasks will focus
on eliminating unfair and deceptive practices in the
marketplace and to ensure that products and services being
sold to consumers are safe and of good quality. The office of
the secretariat is located on the first floor of the Orion Mall
and they can be reached on:
Tel No: 321 018 • Fax No: 323 336.
..................................................................
Workshop on Wood Treatment
A
group of artisans attended a workshop organised by
SEnPA. The aim of the workshop was to sensitise the
artisans on the safe methods to treat their wooden items for
export. They were also introduced with the new International Standard for Phytosanitary Measures 15 (ISPM 15).
This standard provides guidelines to regulate wood packaging materials used in international trade to prevent the
risk of introducing wood pests in other countries.
4
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
..................................................................
SIB Interview with
Mr. Peter Durup - GM
Kokonet
Kokonet has been in existence for 5
years. The company is primarily an
Internet Service Provider and its core
product is the broadband wireless
Internet services which at present covers most of Mahé
Island. Kokonet is also a licensed Voice Over the Internet
Protocol (VoIP) operator and has just recently introduced
the new KOKOtalk voice service.
What are the strong points of your business?
Two of Kokonet main strengths are its well established wireless
network which covers most of Mahé Island and its small team of
dedicated, reliable and knowledgeable workforce. Together it
provides its Wireless Internet services directly to the customers
without the need of third party involvement.
How is Kokonet competing against other Internet service
providers?
We see competition as good for both parties. The customers
benefit from quality products and competitively priced value
for money products whilst the service providers are motivated
into delivering superior services in order to drive revenues.
Being a proactive company we have always brought products
that ease customer services and requirements. We have
recently introduced more transparent pricing and features for
our internet packages, VoIP packages at cost saving prices for
international calling and a Direct Debit scheme in conjunction
with Barclays Bank to facilitate subscribers' bill payments. As a
small, but flexible company we stay in touch with our
customers and strive to give them what they are looking for, i.e.
a combination of good services at affordable prices delivered by
the latest technologies. Often this tends towards personalised
products and services.
What are the factors holding back Internet development in
Seychelles?
Geographically, we are isolated from the major Internet superhighways of Europe and America. Our means of connecting to
these backbones are through satellite access. The inherent
laten-cies of satellite communications and the high cost of
satellite bandwidth are some of the most noticeable factors
that affect the development of Internet services in Seychelles.
Is there enough support for Internet development in
Seychelles?
The authorities are very much aware of the importance of the
Internet for the future economic and social development of the
Private Sector Corner
country. To say that this translates into full out support would
probably be an exaggeration. There is still too much
bureaucracy in the regulation of the industry that can have
stifling effect on growth and innovation.
What do you think could be done?
The authorities should act more as partners than just
regulators.
What prompted the setting up of KOKOtalk?
KOKOtalk is what the customers have been compelling ISPs to
make available. As the drive to cut cost whilst having a more
affordable, but quality voice service alternative to the costly
traditional Telco's product, Kokonet decided to deliver a much
sought after commodity to meet the market expectations.
KOKOtalk is a quality broadband phone service for voice, fax and
email to SMS using devices such as softphones, IP phones, Wi-Fi
phones and analogue phones. It will be able to interconnect to
any PSTN and GSM licensee.The KOKOtalk number range is
47xxxx. Calls between KOKOtalk devices are free whilst
international calls are 50% cheaper than the normal international call rates presently available. Customers will be
charged a SR50.00 monthly subscription fee for the service.
In your opinion, how would you describe the development of
Internet in Seychelles?
Internet has evolved from a cold war idea in the early 70s to the
well-known information superhighways of today. Our
development is such today that many of our major businesses
are dependent on the Internet due to its high cost saving
aspects. The hospitality industry is one such sections of our
economy that has taken full advantages of the Internet services.
I must say that we now live in an Internet age in Seychelles. It is
the future of the generations to come in every wake of the
business arenas and our daily lives. But, there will be an obvious
pitfall in that as we make maximum use of this versatile tool, it
may create a second class citizen for those who will have limited
or no access to it. For business, this may result in lost opportunities.
What are your future plans?
Kokonet's aims are to spread the use of Internet throughout the
Seychelles, to provide an affordable and competitively priced
product using the latest in technologies and to offer the widest
possible range of IP-enabled product and services.
As far as the Internet is concerned, where do you see us, say in
10 years, 20 years, 50 years?
Considering the rate of technological developments, in the next
10-20 years, I expect that Seychelles will have then been
connected to those high-end superhighways through a global
fibre network or some next-generation medium.This will permit
us to network organisations such as the business communities,
schools, health services, emergency services, other civil
services, etc… cheaply and provide them with ultra high data
processing and throughputs for the mutual benefits of our
society.
Sectoral News ....................................................................................5
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
SFA takes control of the
Baie Ste. Anne Ice Plant
The Protection of Sea Cucumber
T
he Seychelles Fishing Authority organised a stakeholders'
meeting on 10th February 2006 to discuss rules governing sea
cucumber fishing, in order to avoid the need for a third closure of
that fishery.
The meeting which grouped local fisherman, SFA experts and
members of the Sea Cucumber Advisory and Management
Committee, were to tackle the problem of illegal sea cucumber
fishing and fishing licence abuses. Amongst issues discussed
were the licence conditions, transfer of licences, record keeping
and illegal fishing.
The Sea Cucumber Advisory and Management Committee was
formed following a two-year Sea Cucumber Stock Assessment and
Management Project, started in 2003 and which was intended to
conduct a stock assessment of that resource from which a
management plan could be drawn. That project funded by FAO
presented its preliminary findings in June 2005, of which the
need to create the Committee was the main recommendation.
.......................................................................
New Fisheries Committee Launched
F
ollowing the announcement by the President in the 2006
Budget address, the government has set up a Fisheries
Development Committee which will prepare a 5-year strategic
plan for the further consolidation and development of Seychelles'
fishing sector. The committee comprises of members from both
the public and private sector and they will be assisted in their
work by an EU consultant.
T
he Seychelles Fishing Authority (SFA) has recently took over
the management of the Ice Plant at Baie Ste Anne, Praslin,
which was under private management.
The ice plant which has a production capacity of 4 tonnes per day
and a storage capacity of 10 tonnes is being refurbished and will
be refitted with a new compressor and other accessories. These
improved facilities will benefit the fishing communities of both
Praslin and La Digue, and once the plant becomes re-operational
there will be new opening hours and a revision in the price of ice.
The project is being financed by the Overseas Fisheries
Cooperation Foundation (OFCF) of Japan.
.......................................................................
Businesses to save on Employer's
Social Security Contribution
A
s part of measures to boost employment opportunities and
business development in Seychelles, the Government has
reviewed the social security payments by employers in all
sectors. The social security contribution has been reduced by 5%
for the salary range of R2001 to R10,000.
There are four progressive rates which are used to calculate the
contribution. These are the 10% brackets covering salaries from
.......................................................................
Fishing infrastructure project
bid for Japanese Funding
S
eychelles is bidding for an award of around $6 million from the
Japanese International Cooperation Agency (JICA) to fund the
construction of fishing facilities on Mahe.
Meetings were held in January 2005 between Fisheries officials
from the Department of Natural Resources and members from
JICA to review the project proposal. The project, if approved,
will be the construction of fishing port infrastructure to include a
slipway and an ice plant on zone 6 at Providence and another ice
plant at the Bel Ombre artisanal port.
A decision is expected from the Japanese government in July
2006.
zero to R1,000, the 20% bracket from R1,001 to R2,000, the 35%
bracket from R2,001 to R10,000 and 40% bracket from R10,001 to
R12,000. The reduction which took effect in January 2006 will
benefit those falling in the 35% bracket.
.......................................................................
Import licence fee reduced
I
mporters and businesses are to benefit from a reduction in the
annual import licence fee from R5,000 to R1,000 . This is part
of the Government's plan to reduce the cost of doing business in
Seychelles. The reduced rate was announced in the budget
address on 30th November 2005 and took effect on 1st January
2006.
6................................................................................................ Sectoral News
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
Guidelines for
Commercial Buildings
More financial support from BADEA
T
he Director General of the Arab Bank for Economic Development in
Africa (BADEA), who was on an official visit in the country from
January 29 to February 2 2006 has commended the Government of
Seychelles on the way it has invested the finances that the bank has put at
its disposal.
BADEA was established in 1974, with the objective of strengthening the
economic, financial and technical cooperation between the Arab and
African countries and started its operation in Seychelles in the 1980s.
Since then the bank has financed 7 projects.
Seychelles will benefit with new financial agreement from BADEA through
a line of credit for private sector development and the financing of
infrastructure on Perseverance Island.
.................................................................................
SEEP goes online
S
eychelles' small establishments will finally receive worldwide exposure
with the launching of the online Seychelles Secrets site. The Small
Establishment Enhancement Programme (SEEP), initiated by the
Seychelles Tourism Board (STB), groups together small holiday properties,
vetted by STB staff for cleanliness, comfort, décor, value for money and a
range of other criteria, with a view to creating and maintaining a stock of
high standard, yet affordable accommodation for tourist visitors. The
Seychelles Secrets site will also allow tourists travelling to Seychelles to
book via the internet.
The website address is: www.seychellessecrets.com
.................................................................................
Long Island will get new 5-Star Hotel
T
ourists visiting Seychelles will continue to have more choices for
accommodations when a new luxury hotel is built on Long Island.
The Shangri-La Resort and Spa which is being promoted by TriGranit
Development Corporation will comprise of 100 guestrooms and amongst
the many facilities proposed to be offered is the introduction of the first
cable car in Seychelles.
S
eychelles Investment Bureau has received several
proposals relating to the construction of apartment
blocks, office buildings and so forth.
The application process to construct a commercial/
residential building has been simplified to facilitate the
potential investor. The investor has to submit a project
proposal along with all the relevant plans including
location and site plans (A3 format), together with the
completed application form for environmental
authorization (EA) to Seychelles Investment Bureau .
Within 30 days the investor should have a final official
decision on his/ her proposal, in the event that no
further clarification or information is required in the
intermediate period. All the necessary conditions that
would apply to the development will be forwarded to
the investor/ promoter with the letter. This helps the
investor when submitting his/ her final detailed plans
to the Planning Authority.
For further information visit SIB's website at
www.sib.sc or telephone 295500.
............................................................
Seychelles Diving Workshop
T
he local dive instructors attended a one-day
workshop in diving related medicine, held on 9th
February 2006.
The aim of the workshop, which was organised by
Seychelles Tourism Board, was to create awareness on
scuba diving health-related problems and to provide
the divers with the latest medical techniques
concerning the effective measures to deal with
underwater accidents and their treatments.
Authorities you should know about
“Seychelles Civil Aviation Authority (SCAA) was created in April 2005. Their mission is to regulate and promote
the development of regular, safe and economic air transport to and within the Seychelles. The role of SCAA is to
maintain and manage the Authority's aerodromes and to provide such services and facilities necessary for their
operations, to provide air navigation services and facilities at the aerodromes and in the Seychelles Flight
Information Region and to act internationally as the national body representing Seychelles in respect of matters
relating to civil aviation.”
Chief Executive Officer
Seychelles Civil Aviation Authority
February 2006
Regional & Int’l Updates ...........................................................7
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
Regional meetings prior to
EU/EPA negotiations
International
Agreement
T
he Minister for Economic Planning and Employment headed
the Seychelles delegation at the 4th meeting of the Eastern
and Southern (ESA) Council of Ministers and the 2nd Joint ESA-EC
ministerial meeting that was held in Mauritius on 8th and 9th
February respectively.
The meetings between the two parties were to consider the
recommendations of the 6th ESA Regional Negotiating Forum that
was held in Harare in February and also to discuss the strategic
framework of the negotiations on the agreement of an economic
partnership with the European Union.
The new EPAs will substitute the Lome Conventions, the
instruments under which for the last 25 years, agricultural and
manufactural products originating from the ACP countries are
granted non-reciprocal preferential (duty free) access to the EU
markets.
The EPA are interested progressively to remove barriers to trade
between EU and ACP partners and enhance co-operation in all
areas relevant to trade.
DOUBLE TAXATION AGREEMENT (DTA)
DTA agreement
South Africa, China, Indonesia,
concluded by Seychelles Thailand, Zimbabwe, Oman,
Malaysia, Botswana, Mauritius,
Vietnam
Negotiations concluded
awaiting date for
signature
Russia, Egypt, Belgium, Qatar,
United Arab Emirates, Bahrain
Continuation of
negotiations - second
round
Czech Republic, Tunisia,
Namibia, Kuwait, Russia
First round of
negotiations
Philippines, Malta, Burundi,
Ivory Coast, Lesotho, Morocco
Request for DTA
negotiations
Israel, Portugal, Turkey,
Tanzania, Kenya, Zambia, India,
Sweden, COMESA member
states, Argentina, Greece,
Netherlands, Poland, Slovenia,
Brazil, Japan, Mexico, Bhutan,
Myanmar, Pakistan, Tajikistan,
Uzbekistan, Republic of Slovak
Formal negotiations of the EPAs at all ACP level started in
September 2002 and the agreements are intended to enter into
force by 1st of January 2008.
.......................................................................
WTO Reference Centre
A
two-day training on the World Trade Organisation (WTO)
reference centre was organised by that organisation in
collaboration with the Department of Finance on 1st and 2nd
March 2006.
The course was conducted by two consultants from WTO's
Information Technologies and Reference Centre and the
objective was to explain to the ministerial staff on the functions,
structure and role of the trade regulating WTO which will pave
the way forward in making concrete decisions regarding
Seychelles' possible membership to WTO.
The WTO resource centre is based at the Department of Finance,
Liberty House and contains updated information on trade
promotion activities, business opportunities, prices, trade,
buyers and the WTO website (www.wto.org).
.......................................................................
Seychelles to re-open
European Union Embassy
T
he Government of Seychelles has announced its decision to
re-open the Seychelles Embassy in Brussels, which is to
strengthen Seychelles' diplomatic representation at the
European Union. The appointment of the new ambassador will
be considered by the National Assembly.
Updates
BILATERAL INVESTMENT PROMOTION &
PROTECTION AGREEMENT (BIPPA)
BIPPA concluded and
ratified by Seychelles
Egypt
The possibility of
concluding BIPPA with
Seychelles
Namibia, United Kingdom,
Sweden, Germany, Cuba,
Canada, India, State of Kuwait,
Bahrain, Oman, United States,
Qatar, Republic of Slovak
African Union (AU) Summit
T
he Vice-President Mr. Joseph Belmont, represented
Seychelles at the sixth session of the conference of the AU
heads of states held in Khartoum, Sudan in January 2006. The
meeting, which saw the participation of 40 African leaders
was described as fruitful as it gave an opportunity for
Seychelles to re-negotiate its annual membership contribution with the organisation. During the summit the Vice
President also met and held talks with various heads of states
and representatives of organisations such as the Southern
African Development Community (SADC).
8.................................................................. Regional & International Updates
Seychelles Investment Bureau Newsletter • March 2006 • Issue #1 • Volume 2
International relations - Foreign Ambassadors Accredited
COUNTRY
NAME
BASE
ACCREDITATION DATE
China
H. E. Geng Wenbiang
Seychelles
10 / 01 / 2006
Greece
H.E.Polydore Kokonas
Kenya
21 / 02/ 2006
Cuba
H.E. Domingo Angel Garcia Rodriguez
Seychelles
07/03 / 2006
.............................................................................................................................
7th Session of the Seychelles-Mauritius CBC
T
he Commission on Bilateral Cooperation (CBC) was
launched in February 1991, with an agreement on
economic, technical and scientific cooperation between
Seychelles and Mauritius. The cooperation between the
two countries has developed over the years with
exchange programmes.
The CBC is held alternatively every two years between the
two countries and the 7th session was held in Seychelles
between 13th and 14th December 2005. This session was
an opportunity for two countries to strengthen existing ties
and cooperation amongst them. The two parties signed a
new cooperation agreement. The exchange programme
covers a range of topics to include the sharing of expertise
in industry, legal affairs, social services, housing, environment, agriculture, education and information
technology.
................................................................................................................................................
The WTO Conference
WAIPA World Investment Conference
B
elegates from 85 countries from Europe, North and
South America, Africa and Oceania met in Geneva,
Switzerland on 8th and 9th March 2006 for the eleventh
session of the WAIPA World Investment Conference 2006.
The conference was under the theme “What Tomorrow
Brings: The rise of New Players and New Forms of FDI". Mr.
Joseph Nourrice, the Chief Executive Officer of the
Seychelles Investment Bureau also attended this
conference.
The Doha Development Agenda was initiated at the 2001
Doha Conference and has as its aim to remove trade
barriers between the rich countries and the poor countries
so as to contribute to a more equal global trade system.
Seychelles was represented at this conference by the
Minister for Economic Planning and Employment and the
Director General for Policy and Strategy in the Department
of Finance.
D
The World Association of Investment Promotion Agencies
(WAIPA) is a non-governmental organization based in
Switzerland. This Association which currently has 180
members from 147 countries acts as a forum for investment promotion agencies (IPAs) to provide networking
opportunities and facilitate the exchange of best practice
in investment promotion.
The Seychelles Investment Bureau (SIB) became a member
of WAIPA on 21st September 2005.
P. O. Box 1167-2nd Floor,
Caravelle House, Manglier Street
Victoria, Mahé, Seychelles
Tel: 248 295500
Fax: 248 225125
E-mail: sib@seychelles.sc
Website: www.sib.sc
Concept & Design: FD2-Xtreme Designs ® • 71 33 91
etween 13th and 18th December 2005, trade ministers
from 149 countries met in Hong Kong for the 6th
Ministerial Conference of the World Trade Organisation
(WTO). The objective of this meeting was to settle the
agreement on the Doha Development Agenda. The key
issues on the negotiating agenda were traditional tariffs,
non-tariff barriers, trade and investment in services,
agricultural subsidies and the WTO rules.