PRESIDENT JAMES MICHEL TWO YEARS IN OFFICE-'Investor confidence at its highest' |17 April 2006

Speaking to Seychelles Nation during an interview to commemorate his second year in office, celebrated on Friday April 14, President Michel said the current level of confidence and investment is unprecedented.

It is at a level "never seen in Seychelles before", President Michel said in the interview to be published on Wednesday April 19.

He attributed this to improvements in the country's economy, the introduction of legislation to facilitate investment and encourage investors, and also most importantly, stability.

"We are creating the right environment for businesses to succeed, including small businesses. Stability has played a key role in creating this confidence," said the President.

Seychelles is also attracting investors due to the government's deliberate policy of providing infrastructure and land to facilitate investment.

"Our policy towards investment is on sustainability," the President said. 

"When land is leased for investment the fee charged will depend on a variety of factors clearly established by the authorities concerned – including the nature of the development, the infrastructures already in place and so on," he said. 

The country's Investment Code, he said, spells out clearly what is expected from an investor in these terms and the Seychelles Investment Bureau is there to facilitate the investment process while also ensuring that all requirements are met.

"Our priorities in terms of investment include the long term earnings, job creation, capacity building for Seychellois, preservation of the environment and investments in infrastructure," the President explained.
 
He said that to develop further and to bolster the revenue from investment, the country must continue to promote investment in certain sites. 

"Investor confidence is currently extremely good.  This can only be maintained through a concerted effort by all of us," he said.