The Economic Development Board (EDB) welcomed a delegation led by the Seychelles Investment Board (SIB) from 02nd to 05th May 2023. The main objective of the visit is to strengthen institutional relations and capacity building through mutual cooperation between both institutions.
Established in July 2004, the Seychelles Investment Board (SIB) role is to promote and facilitate local and foreign investments and contribute towards economic growth of Seychelles. Mauritius and Seychelles share a longstanding relationship and similarities in key economic sectors. Based on the Memorandum between the EDB and the SIB signed on 19th November 2021, the SIB requested for a capacity building programme.
The SIB led delegation comprises of the following:
- Mr. Lenny Harry Norman GABRIEL – DCEO at SIB;
- Mr. Nathan Marcus MCGAW – Investment Analyst at SIB;
- Ms. Vivienne Rebecca VOLCERE- Investment Analyst at SIB; and
- Ms. Beverly Anna QUILINDO – Principal Policy Analyst at the Ministry of Investment, Entrepreneurship and Industry.
The objectives of the exchange programme are to observe, benchmark and learn from EDB’s best practices regarding aftercare and post investment support, foreign direct investment collection and statistics, overview of schemes, business start-up processes, among others.
During the welcoming session, Mr. Hemraj Ramnial, CSK, Chairman of the EDB underpinned that this exchange programme provided an excellent opportunity to further bolster economic ties between Mauritius and the Seychelles. The Chairman of the EDB expressed his appreciation for the setting up of a dedicated Mauritian desk at the SIB that will pave the way for enhanced trade and investment relations between our two countries.
The Chief Executive Officer of the EDB, Mr. Ken Poonoosamy underlined that the programme aimed at showcasing the pivotal role of EDB in supporting regional agencies to embark on a series of initiatives and reforms to improve its investment and business climate. The CEO of EDB also pointed out that this exercise along with other similar knowledge & experience sharing programmes also enhance the position of Mauritius as the Knowledge, Trade and Investment platform of Africa.
In his opening remarks, the Deputy Chief Executive of the SIB, Mr. Lenny Gabriel stated that this visit represents a unique opportunity for mutual growth and development, with a focus on capacity building and the exchange of valuable insights. Mauritius, widely recognized for its thriving business environment and ease of doing business, serves as an exemplary model for fostering economic progress. Seychelles aims to learn a great deal from Mauritius’ experience and success in creating a vibrant and investor-friendly landscape. During this four-day program, the SIB delegation will engage in meaningful dialogue and collaborate on innovative strategies to enhance our respective investment climates.
The main objective of this visit is to create a framework for cooperation, consultation and exchange of information between both entities. In this context, the Africa Desk of the Economic Development Board has worked out a full-fledged capacity building programme for the delegation. The working session also provided a platform to showcase the institution`s experience regarding various clusters namely agribusiness, freeport, manufacturing, ocean economy, technology, innovation & services, smart city and real estate, education, film, healthcare and financial services.
By leveraging the combined knowledge and expertise of EDB and SIB, it is anticipated that the collaboration will yield tangible benefits for the business communities in both Mauritius and Seychelles. The shared learnings from this mission will further strengthen our relationship and contribute to the ongoing growth and prosperity between Mauritius and the Seychelles.