Former Seychellois President to attend Economic Congress in Berlin

Posted in Business and Economy at 11:12 am by Robert Klien

Former President of Seychelles James Mancham will attend the Berlin International Economic Congress that will cover global politics, national branding, sustainable tourism and international investment. The event is scheduled from March 9 to March 12, 2011.

Mr Mancham is a member of the board of advisers of the congress organisers, the Institute for Cultural Diplomacy, and patron of its African chapter. Together with the congress, the institute will also hold its next Rise of Africa Conference, which will be held in parallel with the ITB Berlin tourism think-tank.

Mr Mancham noted that the world slowly recovers from the global financial crisis, therefore international economists and politicians are looking once again into the future. “While the emergence of new economic powerhouses in Asia and Latin America is widely agreed on, the influence of the African continent on the global political economy remains unclear.” He added: “The year 2011, therefore, represents an important opportunity to consider this role, and to examine strategies that will strengthen development and foster growth within Africa.”


Seychelles delegation promotes tourism partnerships

Posted in Tourism industry at 5:29 pm by Robert Klien

A delegation from Seychelles has recently visited Brussels to attend the Pro-Fit Investment in Tourism meeting.

The event brought together members of the Southern African Development Community (SADC) and the European Union-African, Caribbean and Pacific (EU-ACP) group. The meeting was held from February 15 to February 17. It was organised for the 14 Southern African countries by the group of SADC ambassadors in Belgium, with the support of the EU’s ProInvest programme.

Seychelles Hospitality and Tourism Association chief executive Jennifer Sinon, Seychelles Tourism Board deputy chief executive Elsia Grandcourt, and Sabrina Agathine, director of investment promotion at the Seychelles Investment Bureau, represented Seychelles at the meeting.

This event was aimed at promoting business partnerships and investment in the Southern African tourism sector, especially through tourism boards, professional organisations in the tourism industry as well as national investment promotion agencies.


OECD criticizes Seychelles’ Tax Assistance Framework

Posted in International Organisations, Seychelles offshore jurisdiction at 12:14 pm by Robert Klien

Ten reports have been released by the Global Forum on Transparency and Exchange of Information for Tax purposes, hosted by the OECD. The reports evaluate jurisdictions’ commitment to tax transparency as well as examine whether information is made available and accessible to foreign tax authorities. Seychelles was one of the offshore jurisdictions evaluated by the Global Forum.

Seychelles, as well as Barbados, San Marino and Trinidad and Tobago fall short of the international standard. According to the OECD, they will need to implement the recommendations made in their reports before they move to the next phase of their evaluations.

The OECD report on Seychelles notes the following: “The review of the Seychelles showed deficiencies as regards the availability of ownership and accounting information in respect of offshore entities. In addition, powers to access information should be strengthened. Amendments to its legal and regulatory system are necessary in order for the Seychelles to qualify for the next phase of the evaluation.”