The Seychelles Investment Board has been in existence for the past 8 years, the operation and mandate of SIB started off as the Government body whereby Governmental approval were granted to projects submitted for consideration. SIB was positioned more in a regulatory role and as a result other areas of responsibilities were not thoroughly practiced.
With the new enacted Seychelles Investment Act 2010 (SIA, 2010) the mandate of SIB has shifted more towards proactive promotion role, whereby its function as a regulatory body is to be slowly replaced by one of facilitation and policy advocacy.
In its effort to be not only efficient in its duties but more importantly adopting the approach of world’s best practices, SIB explored all possibilities of Investment promotion and facilitation to ensure that investment do continuously contribute to the wealth of the country.
Various outreach strategies are already being practiced of which there specific focus in the contents of these programs and destinations chosen so as to bring in maximum benefit to the economy and country as a whole, to target specific investments in the country and propel further developments in traditional and emerging sectors in parallel.
Foreign Direct Investment (FDI) which is being find important not only to the Seychelles but to African continent and neighboring countries is being targeted as a means to eradicate social ills and to achieve our economic objectives. This as a result although there are significant efforts being made in the region for regional integration do place Seychelles in a vulnerable position in term of our size and visibility on international front. The Seychelles Investment Board had therefore proposed the approach of having Investment and Trade Representatives to represent the Board in selected countries in early 2011.
The selected personnel will not only promote and cultivate inbound investment but equally research and delve into the selected countries for pre requisites on possible outbound investment by Seychellois entrepreneurs. It must be noted that credible companies in the Seychelles are geared up to export their products and are already exploring into this avenue.
The responsibilities of the Investment and Trade Representatives will be mainly to promote Seychelles as a favorable and conducive environment for investments. The appointed Investment and Trade Representatives will furthermore be updated with the latest information on the Seychelles investment climate and policies to ensure that credible, accurate and timely information are being disseminated to the right person at the right time.
In February 2012, the Seychelles Investment Board has appointed Ms. Mary Jim to be the official Investment and Trade Representative in Hong Kong. For inquiries on trade and investment to Seychelles, Ms. Jim could be contacted by Email: email@example.com.