Global Entrepreneurship Week, November 8-12   Towards developing an entrepreneurship strategy for Seychelles |12 November 2021

PS Nalletamby addressing delegates during the discussion session (Photo: Thomas Meriton)

Representatives from the public and private sectors yesterday took part in a discussion session at the Savoy Seychelles Resort & Spa to identify and build consensus on what will be the key arguments to develop a national entrepreneurship strategy for Seychelles.

The discussion forms part of activities organised to mark the Global Entrepreneurship Week.

To kick off the talks a representative from the United Nations Conference on Trade and
Development(UNCTAD) addressed the participants.

Seychelles has the highest index of human development in sub-Saharan Africa. The economic and social performance of Seychelles really stands out. Promoting entrepreneurship can help address some specific sustainable challenges such as employment of women and youth. UNCTAD will continue to help small islands to pursue developments in trade, investment, finance and technology as vehicles for inclusive and sustainable development.

Investment, entrepreneurship and industry principal secretary Michael Nalletamby remarked that the ministry is putting all its effort to further develop the private sector and create the environment that will allow for the sustainable diversification of the economy to ensure much greater resilience in the face of external shocks.

“The experience of the Covid-19 pandemic over the last two years and its ongoing threat of resurgence, not only locally but also internationally, especially in our traditional tourist markets cannot be ignored. The almost total closing of the economy because of the over dependence on the tourism industry, which had ground to a standstill remains vivid in our minds,” said PS Nalletamby.

He further noted that with the invaluable support of UNCTAD, now a very close and familiar partner in Seychelles, the ministry wishes to work with all stakeholders to design the appropriate environment where entrepreneurship may prosper.

“With the support of UNCTAD, during the course of last year we carried out the Investment Policy Review which also had a whole chapter addressing the issues of entrepreneurship and identifying  gaps. Today, we aim to take the diagnostic of the lnvestment Policy Review to the next level where we intend to operationalise them through a National Entrepreneurship Strategy in which we wish to have your contribution,” explained Mr Nalletamby.

To conclude, the PS noted that the discussion will provide the opportunity for stakeholders, the local public and private sectors to contribute to the formulation of the framework that would best nurture entrepreneurship.

The discussion was led by Malshini Senaratne, UNCTAD’s local consultant.

Vidya Gappy