Africa-Press – Seychelles. As part of her first official visit to the United Arab Emirates, Investment, Entrepreneurship and Industry Minister Devika Vidot met with Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs on Monday February 14, 2022.
The meeting comes as part of a number of bilateral talks held with the aim of strengthening cooperation and establishing relationships, as well as possible investment opportunities between Seychelles and the United Arab Emirates (UAE), in the areas of entrepreneurship and investment.
Minister Vidot shared with her counterpart the strategies her ministry are devising in order to promote and facilitate the ease of doing business, the challenges that Seychelles as a small island nation faces in its process of economic diversification and the need for a solid entrepreneurial framework across the various sectors of the economy. One that will allow Seychellois to get access to finances and support to start their businesses. She also shared Seychelles’ experience in its efforts to develop the Marine.
Biotechnology industry
Minister Vidot placed strong emphasis on the need for the private sector to take the lead and for government to be the facilitator in business development, especially in science, technology and innovation (STI), which underpins the overall success of both aforementioned strategies.
This was reciprocated by her counterpart, who stated that the UAE government focuses on the development of policies and frameworks and allows the private sector to flourish as the major player in the economy.
Minister Vidot commended the UAE for its own achievements in STI and also extended congratulatory remarks to the UAE government for ranking first in the Global Entrepreneurship Monitor (GEM) report released recently. The UAE achieved the highest score in the general ranking of the global entrepreneurship index and emerged as the number one global destination for establishing and starting businesses, hence having the most encouraging environment for entrepreneurship. Along the same line, the minister shared Seychelles’ interest in joining GEM.
Dr Al Falasi reinforced UAE’s interest in sectors such as investment and tourism with Seychelles. He encouraged the Seychelles government to develop its citizens to not only be employees, but to also create their own businesses. He stated that financial support is critical to allow entrepreneurs to get started and to grow.
Key to note is that Minister Vidot officially launched sports tourism last week at the EXPO with a view to invite possible UAE investors into this field in Seychelles.
Both ministers agreed to share progress reports on entrepreneurship and continue collaborating on other mutual potential opportunities.
Minister Vidot was being accompanied by Kenneth Racombo, principal secretary of the Blue Economy department and Terrence Crea, principal programme development officer from the same department.
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