Seychelles calls for Sids specificities to be respected

[Grandlarousse]

Seychelles calls for Sids specificities to be respected

23-October-2014
Seychelles has appealed to the UN and other world organisations for the characteristics and specificities of small island developing states (Sids) to be Minister Laporte at the meetingrecognised and respected in the formulation of international frameworks.

This call came during an inter-ministerial round table of the Global Investment Forum that was held in Geneva last week, where Seychelles was represented by Minister for Financem, Trade and Investment Pierre Laporte.

The round table, which was held under the theme ‘Investing in the Sustainable Development Goals’, brought together ministers from 28 countries as well as representatives of the United Nations Conference on Trade and Development (Unctad), the Organization for Economic Cooperation and Development (OECD) and the Multilateral Investment Guarantee Agency (Miga).

Addressing the round table, Minister Laporte emphasised the role that foreign direct investment (FDI) has played in the transformation of Seychelles from a low-income, mostly agricultural-based economy in the early 1970s to an upper-middle income, primarily service-based economy that it is today.

Noting that going forward Seychelles will continue to face important economic, social and environmental challenges, Minister Laporte added that “while the country (Seychelles) needs to continue to attract foreign investment this has to be done in a way that the investments are in line with the social and environmental aspirations of our people”.

He added that “policies should thus be geared toward ensuring that the right environment that promotes sustainable investment and growth is in place”.

Recognizing the important role that the private sector has played in Seychelles' economic transformation, Minister Laporte stated that “policies should, among other things, provide ample space and opportunities for the private sector to participate actively and effectively in our development”.

http://www.nation.sc/article.html?id=243407