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.
