Located on Ile Perseverance, At Sea is a mixed commercial development consisting of a restaurant, bar, takeaway, and 10 residential apartments. A team from the post-investment support unit visited the development to appraise the progression of the development and provide any guidance on the way forward.

The development took two years to complete due to complications from the COVID-19 pandemic and the unavailability of certain materials. At the moment all ten of the residential apartments are occupied, and the restaurant, bar, and takeaway is open to the public.

After the Seychelles Investment Board was assigned the tender of Geographic Information System (GIS) lands for commercial activities, the CEO of SIB and team was invited by the Praslin Liaison Office to visit Praslin. The aim was to assess the several areas identified for economic activities and meet with local entrepreneurs seeking support for the development of their projects on the island.

The team also had the opportunity to meet with the new CEO of Union Estate for better insight into the park’s different investment plans, followed by post-investment visits to two local businesses on La Digue island. 

Such activities fall in line with the Ministry’s development plan to be more proactive on a district level, talk to each respective administrator, understand their needs and aspirations for their district and how SIB can better help with investment facilitation.

A team from the post-investment support unit paid a visit to Mr. Wilson Nancy, the owner of Willow Ventures Pty Ltd.

The purpose of the visit was to learn about his business' progress and offer advice and guidance on any challenges and constraints.

Willow Ventures Pty Ltd produces La CocoFesse Island Brandy. The beverage manufactured in South Africa, distilled from 50% coco-de-mer

pulp exported from Willow Ventures Pty Ltd.

Mr. Nancy informed the team that the company currently employs only part-time workers when needed.

La CocoFesse Island Brandy intends to expand its brand in the near future to include some new alcoholic beverages

that will be not as exclusive as the brand is presently.

The Seychelles Investment Board, along with the Minister of Investment, Entrepreneurship and Industry, the blue economy, and the departments of Sports and Tourism, attended the Seychelles Investment Forum at the Dubai Expo Business Centre, focusing on the opportunities for Sports Tourism as an investment prospect in Seychelles.

The event provided an opportunity for Seychelles to highlight various investment opportunities available in Seychelles related to Sports Tourism and potential activities that can take place throughout the Islands that have the potential to yield a high level of investment.

The presentations focused on the recommended opportunities in Sports Tourism, as well as the various potential areas of investment in Sports Tourism, the investment landscape, the ease of establishing a business in Seychelles, and the steps to invest in Seychelles. The forum came to a close with a productive networking session.

Fly Seychelles is a Sky Diving Business located at the Cote Dor Lodge on the island of Praslin. After fully implementing the project, they launched an international event, the ‘Inn Hop Experience’, from the 17th to 23rd of October 2021. Around 50 skydivers participated in the event, including some well-known figures in the sky diving world.

A team from SIB visited Mr. Drosi, owner of ‘Fly Seychelles’, to discuss his business journey thus far, and advise him on the different constraints being faced. Additionally, Mr. Drosi shared his interest to expand his business and wishes to carry out more skydiving events soon.

The Seychelles Investment Board (SIB) and the Economic Development Board (EDB) of Mauritius have signed a new Memorandum of Understanding (MOU). This MOU replaces the previous MOU that was signed in 2011 between SIB and the Board of Investment (BOI) of Mauritius. The signing of a new MOU was necessitated due to the merger of the BOI, Enterprise Mauritius and the Financial Services Promotion Agency in January 2018 to form the Economic Development Board of Mauritius (EDB).

The MOU establishes the intent of both parties to further collaborate and increase communications, with the intention of mutual assistance and coordination to the full extent permitted by the laws and regulations. The signing of this MOU assists in the enhancement of SIB’s reputation as a credible investment promotion agency. The areas of cooperation mentioned in the MOU includes;

• Exchange of information on a predetermined basis
• Facilitate exchange visits for transfer of knowledge and skills
• Organisation of events to ensure greater benefits from the synergies between the two organisation
• Enable the implementation of the Mauritius Business Desk
• Explore investment opportunities for the Seychellois and Mauritian investors 
• To enable SIB to learn from EDB the best practices in regards to the ease of doing business

Alongside the MOU, both parties have also agreed on an implementation plan whereby both parties can take full advantage of the areas of cooperation established in the MOU. It must be noted that SIB and EDB will be organising a capacity building exercise in 2022, this activity is expected to have the participation of numerous agencies and department across various Ministries.

The MoU was signed by SIB’s Deputy Chief Executive Officer, Mr. Lenny Gabriel and EDB’s Chief Executive Officer, Mr. Namasivayen Poonoosamy.