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Zawya
25-06-2025
- Business
- Zawya
President Ramkalawan Chairs Inaugural Government-Private Sector Economic Forum
President Wavel Ramkalawan presided over a landmark economic forum on Tuesday afternoon, bringing together high-level government officials and private sector representatives in an unprecedented collaborative dialogue aimed at strengthening Seychelles' economic foundation and fostering sustainable growth. The historic gathering held at State House, marked the commencement of a structured partnership between the government and business community. President Ramkalawan articulated his vision for enhanced economic cooperation, expressing profound enthusiasm for the collaborative framework being established to streamline business operations and accelerate the nation's economic trajectory. He emphasized the administration's dedication to creating an environment where private sector innovation and investment can flourish, recognizing that such an environment is essential for achieving long-term economic prosperity. The collaborative approach established through this inaugural forum represents a significant step toward more inclusive economic governance and strategic partnership between public and private sectors. The forum commenced with comprehensive discussions on strategic land development and reclamation initiatives. The Minister of Investment, entrepreneurship and Industry Mrs. Devika Vidot provided an insightful overview of land utilization policies, establishing the foundation for CEO Jitesh Shah's detailed presentation on reclamation projects. These discussions illuminated significant opportunities for strategic land development that would support industrial expansion while addressing the growing demand for commercial spaces. Financial sector modernization emerged as a central theme throughout the deliberations. The Chairman of the Seychelles Chamber of Commerce and Industry delivered comprehensive presentations addressing the acceleration of Anti-Money Laundering (AML) and Know Your Customer(KYC) reforms, initiatives designed to enhance business growth prospects while ensuring robust financial inclusion. These reforms represent crucial steps toward maintaining Seychelles' competitive position in the international financial sector and addressing compliance requirements that have become increasingly stringent in the global marketplace. The forum also extensively examined payment system modernization, with particular emphasis on the systematic phase-out of traditional cheque systems and the implementation of contemporary digital payment infrastructure and its associated disadvantages. The forum concluded with a commitment to establishing regular dialogue mechanisms that will ensure ongoing communication between government and private sector stakeholders on a monthly basis. This framework is designed to create responsive policy development processes that can adapt to changing market conditions and emerging business needs. The successful convening of this forum demonstrates the government's commitment to transparent dialogue and collaborative problem-solving, establishing a foundation for continued engagement that will support Seychelles' economic development objectives while addressing the practical challenges faced by businesses operating in the modern economy. Distributed by APO Group on behalf of State House Seychelles.
Zawya
30-05-2025
- Business
- Zawya
Seychelles: President Ramkalawan Launches Joint Economic Forum to Bolster Public-Private Collaboration
President Wavel Ramkalawan Thursday afternoon chaired a high-level meeting at State House to formalize the establishment of the Joint Economic Forum (JEF), a landmark initiative aimed at institutionalizing dialogue and cooperation between the government and the private sector. The forum responds directly to proposals tabled by the Seychelles Chamber of Commerce and Industry (SCCI) on 15 May 2025. In his opening address, President Ramkalawan underlined the strategic significance of the JEF in fostering a more inclusive and responsive economic governance framework. . "This forum represents our commitment to collaborative problem-solving, where both sectors can openly discuss challenges and work together to identify practical solutions for our nation's economic advancement," the President stated. The launch of the JEF represents a critical policy milestone, offering a permanent mechanism for dialogue, joint decision-making, and alignment of national economic priorities. The initiative is designed to enhance trust, foster transparency, and catalyze sustainable growth through shared responsibility. Minister for Investment, Entrepreneurship and Trade, Mrs. Devika Vidot, reinforced the government's unwavering dedication to this collaborative approach during the meeting. "The only way for government to be efficient and responsive to public needs is through genuine consultation and partnership with the private sector," Minister Vidot emphasized, highlighting the administration's commitment to evidence-based policy making. Mr. Oliver Bastienne, Chairman of the Seychelles Chamber of Commerce and Industry (SCCI), described the forum as "a turning point in how we work together as partners in national development." He noted that the initiative "demonstrates mutual respect, accountability, and shared resolve to address challenges through honest and results-oriented collaboration." The Joint Economic Forum will be governed by five core objectives: Enhancing National Competitiveness through coordinated policy reforms tailored to global market realities. Improving the Ease of Doing Business by removing regulatory bottlenecks and streamlining operational processes. Promoting Inclusive Economic Growth that ensures broad-based benefits across all societal segments. Ensuring Policy Responsiveness through direct feedback from business stakeholders on legislation, regulations, and administrative processes. Aligning National Development Plans with the private sector's practical needs and strategic priorities. The forum will adopt a dual co-chairmanship model to ensure parity and accountability—Minister Vidot will lead on behalf of the government, while Mr. Bastienne will represent the business community. Membership will comprise eight rotating representatives, selected through transparent criteria focused on sectoral relevance, inclusivity, and institutional legitimacy. Monthly plenary sessions and issue-specific working groups will form the operational backbone of the forum, with a joint secretariat—composed of officials from both the Ministry and SCCI—providing logistical and administrative support. Today's inaugural meeting reviewed the forum's detailed Terms of Reference and held preliminary discussions on the national taxation framework—an area repeatedly flagged by the business community as crucial to investment confidence and operational sustainability. Private sector stakeholders have committed to internal consultations to finalize their representatives ahead of the official launch on 24 May 2025, where substantive policy dialogue will begin in earnest. The meeting also brought together key ministers, including the Minister for Transport, Mr. Anthony Derjacque, and the Minister for Employment and Social Affairs, Mrs. Patricia Francourt, as well as leaders from various business associations. Their presence underscored the multi-sectoral commitment to the JEF and the administration's dedication to transparent, inclusive, and participatory policymaking. Distributed by APO Group on behalf of State House Seychelles.
