Economic experts predict positive year for Seychelles
11.01.2010
World economic experts are predicting a positive year for Seychelles with Q-Finance quoting sources like the Economist Intelligence Unit as saying we should see more relief.
“The EIU has forecast that 2010 will bring relief (for Seychelles) saying the improved global economic climate will boost tourism figures and foreign investment and lift GDP growth,” says Q-Finance in its latest report.
It says the government has been consistently business-friendly, and has actively supported the development of an offshore financial-services sector.
“There is no discrimination against foreigners in terms of conducting business in the country, except that they need official approval to own land. The government established the Seychelles Investment Bureau in 2004 to promote investment and support foreign investors. An import permit must be obtained from the Ministry of Finance for all imports. This is usually issued within 48 hours of application.”
Other sources support the positive forecast by citing declining commodity prices, especially for petroleum, and higher public revenue from fisheries which they say would partially offset the loss of tourism receipts in the balance of payments.
Commissioned by the Qatar Financial Centre, Q-Finance is a trusted resource for finance professionals, providing the best practice and knowledge base to help organisations operate as effectively as possible in the business environment.