Introductory Remarks by President Michel at meeting with Indian Business Community, Delhi, Wednesday 26th August 2015

Sat, 29 August 2015 | Investment


Distinguished members of the private sector from India,

Ladies and gentlemen,

It is a pleasure for my delegation and I to meet today with such a large cross section of prominent businesspersons, investors, industrialists and financiers from India on the occasion of my state visit to your great country.

My visit is placed within the ambit of the deep-rooted friendship between India and Seychelles. It is gratifying that this friendship – this affinity – can be strengthened further, and in a way that it is more strategic economically, more investment-oriented, thanks to the effort and the determination of our two governments and the private sectors of our two countries.

We have a natural connection through our history, our language, our culture, the values we have in common, the ocean that unites us, a shared vision for the development of our countries and our region, a development that is solid, lasting and sustainable.

The convergent interests of our two countries and close strategic partnerships are bolstered by the vibrant Indian community in Seychelles and Seychellois of Indian descent who are an integral part of our history and who play a key role in the development of our economy. I am proud that prominent Seychellois businessmen of Indian origin who form part of my delegation are present here today, together with the Chairman of the Seychelles Chamber of Commerce of Industry and the Chief Executive Officer of the Seychelles Investment Board.

Ladies and Gentlemen,

India’s economic progress has been impressive. It is one of the largest and fastest growing economies and a key driver of the global economy.  We are therefore proud that economic, trade and business ties are also a key part of our relationship.

During the historic and landmark visit of Prime Minister Modi in Seychelles in March of this year, we reiterated our commitment to bring the economies of our two countries closer together, to drive more growth, to create more opportunities for entrepreneurs of both nations.

Ladies and Gentlemen,

Seychelles is not just a place for holidays, but also a great place for investment. With the successful transformation of our economy over the past years, Seychelles has positioned itself as an ideal place for wealth creation and an excellent location for global and regional corporate positioning.

The economic partnership between India and Seychelles has therefore a lot of potential. I believe that new and emerging areas of cooperation like renewable energy, ICT, agro- processing industries, eco-tourism, biotechnology, tourism, financial services and the Blue Economy, encompassing a wide range of activities,hold great promises for both our nations.

The Blue Economy is all about ownership by regional states of the resources around our islands and coasts. We are extremely encouraged by the willingness of the government and people of India to work with us to truly harness the development of our ocean’s potential.

There is great potential for Seychelles to emerge as a regional hub for Indian Ocean trade, due to our strategic geographical position and our access to the African market. Our improved connectivity by sea and by air also plays a great role in this endeavour.

The signature this morning of the Bilateral Air Services Agreement, the Agreement on Exchange of Information and Assistance in the Collection of Taxes, coupled with our existing Bilateral Investment Promotion and Protection Agreement will undoubtedly spur further economic exchanges between India and Seychelles.

As you can judge for yourselves, many opportunities exist.So together let us be audacious, creative, imaginative and determined. We are not short of ideas, not short of talents, not short of tools. Together we can lead the way for more growth in our countries and in our region.

The Chairman of the Seychelles Chamber of Commerce and Industry and the Chief Executive Officer of the Seychelles Investment Board will now apprise you in greater detail of what Seychelles has to offer in terms of trade, investment and business.


Thank you

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