This engagement was aimed at reflecting on mechanisms for empowering the private sector to mobilise capital and to effectively engage in the African Continental Area (AfCFTA).
The UNDP and the Seychelles Ministry of Investment, Entrepreneurship and Industry co-hold a high-level dialogue with the private sector.
May 16, 2022
On Thursday 12 May, a Breakfast Meeting was co-hosted at the Savoy Resort and Spa, Beau Vallon, by the United Nations Development Programme (UNDP), and the Seychelles Ministry of Investment, Entrepreneurship, and Industry (MIEI). This event was attended by the Honourable Devika Vidot, Minister of Investment, Entrepreneurship, and Industry; Ms. Amanda Serumaga, UNDP Resident Representative for Mauritius and Seychelles; Ambassadors and High-Commissioners; and more than 60 representatives of the public and private sector. This engagement was aimed at reflecting on mechanisms for empowering the private sector to mobilise capital and to effectively engage in the African Continental Area (AfCFTA).
This event followed the first advisory committee meeting that was held on Tuesday 10 May to guide the preparation of the SDG investor Map for Seychelles, one of the key interventions geared towards strengthening the role of the private sector in development. The SDG Investor Map is an online market intelligence tool developed by the UNDP to enable countries to attract private sector to Investment Opportunity Areas with high potential to impact on the national development priorities.
Strengthening private sector engagement towards Socio-Economic Development
In her remarks, Ms. Amanda Serumaga, UNDP Resident Representative for Mauritius and Seychelles, stated that this meeting was a “a testament of the commitment of the Government of Seychelles to strengthen partnerships for fostering socio-economic transformation, this time focusing on the centrality of the private sector.” She also added that the 2030 Agenda for Sustainable Development positions the private sector at the forefront of future development.
The Honourable Devika Vidot, Minister of Investment, Entrepreneurship, and Industry, explained that exploring new sources of revenue to support the rebuilding of a more resilient economy is a priority of the Government. According to her, the setting up of a SDG Investor Map process is a timely process, as “the Government has initiated a complete review of the National Development Strategy, which includes the setting up of new sets of priority pillars.” She also added that this exercise provides the opportunity adopting a consultative approach, by having the private sector take part in the Strategy.
The workshop also included interventions from a panel of experts, moderated by Mr. Oliver Bastienne, Chairman of the Seychelles Chamber of Commerce and Industry. Ms. Joan Manda, Senior Investment Advisor from the UNDP Africa Finance Sector Hub talked about the global and regional opportunities for the Seychelles private sector to mobilise capital. Mr. Keith Andre, Chairman of the Seychelles Fishermen and Boat Owners Association gave a presentation on how the private sector can unblock constraints to obtain effective engagement in the domestic and regional markets. Mr. Charles Angelin Morin Trade Consultant, Ministry of Finance, National Planning and Trade explained how the AfCFTA can be positioned within the Government’s economic diversification strategy while Dr. Joy Kategekwa, UNDP Regional Strategy Advisor, talked about readying the Seychelles Private Sector to benefit from the AfCFTA.
The event ended with a plenary session where participants were encouraged to engage in discussions on ways to promote private sector development as a mechanism for strengthening the economic diversification agenda of the Government of Seychelles.
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