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Why Not Invest In Seychelles Fisheries

Why Not Invest In Seychelles Fisheries
August 19
13:36 2014

The Republic of Seychelles basks in the sun and sands of the Western Indian Ocean across 115 islands of color and hope. The pristine glory results from centuries of marvelous isolation hidden away in time and mystery. Located nearby Africa and strategically poised between the business hubs of Asia and Europe, Seychelles fisheries could very well become your investment decision amidst infinitely deep sea fishing grounds. Tourism provided the lifeline of the economy until industrial fishing took over as the largest income generator since 2009. Come and join the investor friendly policies of the government with little restrictions and no taxes.

Agriculture hardly sustains without sufficient arable land and the small farms in Seychelles are limited to vegetables and fruits besides livestock. Cinnamon, patchouli and vanilla too have had their share of lucrative markets.

For obvious reasons, once the capital Victoria was connected by air and sea to global destinations, tourism boomed as well it should with all the exotic sea and nature locales filled with wonders unknown. The ‘Another World’ slogan was quite a draw and 130,000 tourists gather each year and generate 41% of the country’s foreign exchange earnings. It was not long before international hotel chains came knocking and FDI goes down well with the authorities for the sake of development and a beneficial impact upon the natives. FDI exceeded USD 350 million in 2008. Otherwise, Seychelles remains largely dependent upon imports to fulfill most basic needs.

Manufacture never really took off with little natural resources and labor supply with the sparse population. Besides, the authorities frown upon environmental hazards as well they should. The result has been small units that assemble and maintain machinery and deliver services.

Seychelles Fisheries represents 95% of Seychelles’ exports and generates vast employment and investment potential. Industrial fishing by European Union and Far East fleets have established operations already under the aegis of Seychelles’ Exclusive Economic Zone (EEZ) that covers 1.4 million square km of the richest deep sea fishing environments. Oil potential there is also being investigated where further investment opportunities exist. Heinz Indian Ocean Tuna represents one of the big time businesses.

The stable government is keen to develop infrastructure and upgrade fishing facilities by means of FDI and imposes no harsh trade restrictions as many larger economies do. Besides, the hassle free business ventures in a country the size of the palm of the hand is a dream come true after all that bitter competition in bigger economies. Labor problems do not exist either with the literate population that speaks English and French besides Creole in a multi-racial setting as a result of the colonial past.

Seychelles Fisheries

Aquaculture for prawns and sea cucumber besides the mariculture of raising organisms in the open sea too provide opportunities for sound investment. Pearl oysters and aquarium fish businesses besides offshore fish farming are high on the agenda too.

If you wanted a taste of live fishing, the inner islands provide ample opportunity for fishing excursions. The 41 granite islands surround the capital Victoria at Mahe. Besides the peaks that tower 1000 m, Denis Island and Bird Island are low lying coral islands appropriate to realize your fishing dreams where the ocean floor is 2000 m deep. Whether apprentice or expert, the fishing challenges would leave you quite pleasantly stupefied in some of the most fertile fishing grounds anywhere. Bonefish and dogtooth tune have been captured around the outer islands.

As a potential fishery investor, which would be your preferred domain? You might be interested in the deep sea fishing fleets that mint big money every day. Trawlers comb the deep ocean with an assortment of nets to haul rich catches day and night. Fish processing and canning is already big business with potential for more. Exports of tinned fish have reached mighty proportions. Businesses in the supply of marine equipment, spare parts and repairs also represent vast demand in view of the mammoth industry. Superb sashmi tuna and the finest red snapper are prized exports and the world demands more and more.

Seychelles Investment Board represents the government policies and deals with investor needs by way of advice and knowledge of procedures to get about setting up a business. SIB promotes contacts between investors and local concerns in an effort to maximize FDI and boost the domestic sector towards higher standards of life and economy.

Business opportunities, costs and market information are delivered by SIB to potential investors. Practical concerns like obtaining work permits are also looked into besides the licensing procedures. Publicity material like brochures and newsletters forms part of their services.

A sound information technology infrastructure through fiber optic cable exists to provide logistic support to international businesses. Banking and financial services too have developed well as the economy and foreign investments grew though the native population is small enough. Mauritius Commercial Bank, Bank of Ceylon, Habib Bank and Bank of Baroda are some associations that provide financial services besides the Seychelles organizations.

International transport via aircraft and shipping connectivity has brought the world to the Seychelles doorstep. Sensational tourism development has been indirectly responsible for well developed transport facilities. Besides, nicely maintained roads connect the segments of the capital and boats transport you quickly to nearby islands. You would never quite get over the thrill of living enmeshed in over a hundred islands lying everywhere around the vicinity. If you were looking for romantic destinations to fulfill your business investments, you have discovered the ultimate fairy tale venue.

Seychelles enjoys the strategic location of crossing the shipping lines that connect various international destinations like Asia, Europe, Africa and beyond. Fate and nature have blessed the farfetched islands and the Mahe port has developed to international standards. Serving the Western Indian Ocean and the East African seaboard, Seychelles enjoys vast potential as a bunkering point; the government is determined to maintain the status with a USD 200 million project.

Dedicated to environmental protection, reclaimed land around Victoria has provided the setting for establishing infrastructure rather than destroy the surrounding hills. The future is financially sound with a dedicated literate population and sound political structure free from the travails of many mega economies. Businesses are built upon dreams and the romantic Seychelles prompts many fervent dreams though ventures require toil to succeed, supported by government policies and facilities.

Why Not Invest In Seychelles Fisheries - overview
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Articles on the Jadenforex blog written by "Jadenforex" include guest posts, and items written in collaboration with several authors.

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