Seychelles President James Alix Michel has extended the congratulations of the people and government of Seychelles to the newly-elected President of the Russian Federation, Mr. Vladimir Putin

Soft and Grand opening of the hotel

On the hills of Sorento Glacis, there lies a secluded and ideal vacation villa, for those wanting a rare chance to experience the comfort of a luxury home set in paradise.

Following the difficulties that Air Seychelles has gone through, the government has sought the Etihad Airways as a strategic partner to help redevelop our national airline.

The Minister for Home Affairs, Environment, Transport and Energy Joel Morgan announcedMinister Morgan speaking at the press conference yesterday the deal yesterday during a press conference at his Independence House office.

Etihad Airways -- the national airline of the United Arab Emirates – will invest to acquire a 40% stake in Air Seychelles Ltd as part of this strategic partnership, while the Seychelles Government will own 60%.

Mr Morgan said Etihad Airways’ investment of US $20 million will be matched by an equal injection from the Seychelles Government.

“Etihad Airways will also provide a shareholder’s loan of US $25 million to meet working capital requirements and support network development,” Mr Morgan added.

He said that this is “a game-changing strategic partnership for us”, establishing Air Seychelles on a sustainable growth trajectory and offering a realistic way forward for long-term commercial growth.

“The partnership simultaneously provides international presence, strategic penetration and a bright future for our national carrier,” he said.

The aviation industry is under enormous pressure right now, with small airlines especially vulnerable to global economic instability and ongoing price volatility, he said.

Mr Morgan said this agreement with Etihad Airways will allow Air Seychelles to share the benefits of the visionary strategy of one of the world’s leading airlines and leverage its economies of scale and synergies.

He said Air Seychelles will be able to tap into key tourism feeder markets across Europe such as Germany, Italy, France and the UK.

The partnership will also provide career development opportunities and access to Etihad Airways state-of-the-art training academy in Abu Dhabi for Seychellois professionals, he said.

 

                                      Air Seychelles has struck a partnership with Etihad Airways

He also said the deal also gives Air Seychelles office presence in Etihad Airways offices across the Etihad Airways network, which will help to improve marketing possibilities for Seychelles and its national airline.

Mr Morgan added that this partnership would not have been possible without the good relations between the government of Seychelles and that of Abu Dhabi.

In a press release the Etihad Airways president and chief executive James Hogan has noted that the investment in the national carrier of Seychelles is a natural next step towards growing their operations in the  increasingly important markets of the Indian Ocean and Africa.

“Seychelles is a renowned leisure destination and its tourism industry is surging, as indicated by record-setting visitor numbers for the island nation in 2011.”

Mr Hogan stated that there is a need for greater connectivity to support this tourism boom, and both Air Seychelles and Etihad Airways are well-positioned to leverage that demand into substantial commercial growth.

“The agreement, which is the first of its kind in Africa, makes provision for a five-year management contract for Etihad Airways which will carry out strategic measures to encourage Air Seychelles’ long- term commercial growth.”

Etihad Airways began operation in 2003 and in 2011 carried more than 8 million passengers.
From its hub Abu Dhabi International Airport, Etihad serves 82 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America, with a fleet of 64 Airbus and Boeing aircraft.

Seychelles Nation will come back with more details about the new partnership between Air Seychelles and Etihad Airways.

The Seychelles Investment Board (SIB) and several other regulatory bodies joined with the Common Market for Eastern and Southern Africa (Comesa) Regional Investment Agency (RIA) this week to discuss ways of easing business in Seychelles.

Mr Nalletamby (left) speaking to the press yesterday after the meeting

Preparations are subsequently being made for “enhancing the investment climate through a virtual one-stop shop linking all the regulatory authorities in Seychelles,” which was the theme of the meeting held at the Ephelia Resort.

The meeting, held on Tuesday and yesterday, comes after the poor ranking of Seychelles in a 2011 World Bank “Doing Business Report”, which ranked these islands 95th out of 183 countries, highlighting the need to further improve some of the government agencies’ procedures.

The workshop was opened by the Vice-President and Minister for Finance, Danny Faure, who outlined the importance of the “Virtual one-stop shop” in the context of the Seychelles government’s economic thrust of attracting investment.

One of the critical ingredients in the attraction of investment, he said, was the relaxation of regulations and facilitation of business.

Mr Faure said Seychelles had introduced modern technology, such as electronics in the administration some years ago in a bid to consume less time in paperwork for daily transactions by ministries and departments.

However, various problems and limitations slowed the connectivity possibilities within and among certain government bodies.

Speaking to the press after the gathering, the principal secretary for Investment and Natural Resources, Michel Nalletamby, said government is reviewing the way business applications are processed, hence easing the way for the private sector to move ahead with business ventures.

He said currently, procedures are often complex with a tendency for duplication at each stage.

Mr Nalletamby said the aim is to facilitate inter-action between government bodies dealing with business applications.

He noted that there was an urgent need to “convenience” potential investors, rather than provide obstacles by way of bureaucracy and duplicating procedures.

He noted some of the steps which emerging business ventures have to grapple with, such as obtaining a licence or permit, obtaining access to credit, recruitment of workers, etc.

The chief executive of the SIB, Sherin Renaud, said it is also important to build human capacity to make it easier for the agencies to harmonise procedures.

But, before this can be addressed, “the gaps” in human capacity must be identified.

Ms Renaud also outlined the efforts that SIB has been making to ease the business establishment and regulation process in Seychelles.

She said implementation of the measures agreed on at the Ephelia gathering should begin around March-April, involving initially those bodies most involved in the setting up of business ventures.

Among the most prominent of them, the Seychelles Licensing Authority, the Seychelles Tourism Board, the Planning and Environment departments as well as the Seychelles Fishing Authority were represented.

The meeting was conducted with the financial and technical support of the European Union (EU) through the African, Caribbean and Pacific Business Climate Facility (Biz Clim).
 

Some 60 top representatives of the Russia-based International Union of Economists are holding their 21st annual general meeting at the Ephelia Resort since yesterday.

Air Seychelles has announced that it will stop its European operations to Paris, London, Rome and Milan from January 10, 2012.

The Seychelles delegation at this important tourism exhibition comprised the Mason’s Travel’s sales USA representative, Kay Jackson; 7°South’s USA representative, Astrid Graf; Select Seychelles USA representative, Nigel Bramich and the managing director of Select Seychelles, Freddy Karkaria.

The National Assembly has approved amendments to a series of laws related to offshore business activities aimed at reinforcing transparency in policies which guide the operations and functions of the Seychelles International Business Authority (Siba).