SIB to stress on encouraging local investments

Posted in Business and Economy, Foreign investments at 2:06 pm by Robert Klien

The newly appointed chief executive (CEO) Rupert Simeon of the Seychelles Investment Board (SIB) said that his primary aim is to encourage more local investments and at the same time not to neglect foreign ones.

Simeon said that there has been the general perception about the SIB only striving to attract foreign investments. However, local investors are also given due importance. “The SIB will work towards dispelling this perception,” said Mr Simeon. He noted that the SIB has helped many Seychellois investors but this is not being put to the fore as not many people want to talk about the process they have been through when their businesses are doing well.

The SIB will be holding a series of meetings with all agencies, authorities, ministries namely education, finance trade and investment, land use and housing, which deal directly with investments to explain SIB’s new work programme, discuss different issues relating to their functions, roles and responsibilities and get their feedbacks on matters relating to their operation in relation to local investments.

Mr Simeon emphasized: “If all the conditions in place are conducive for local investments to thrive it will therefore be easy for foreign investors to come in as our laws do not discriminate between local and foreign investors”.

Mr Simeon believes with this new approach and dynamism 2013 will be a dynamic year for SIB and for investments in Seychelles.

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