focus africa
Focus : Africa
Helping Indian companies do business with Africa
INDIA
INDIA
Africa
AFRICA
INDIA : India’s Trade with the African Region notched US$ 38.96 Billion in the year 2009-10 (DGCI&S provisional figures) constituting 8.37% share in India’s total trade. Trade with the region has grown at a CAGR of 18.10% from US$ 4.48 Billion in 1996-97.
AFRICA : 54 Countries, 1 billion people, US$ 1.01 Billion of trade. Imports worth US$ 468 billion include Mineral Fuels, Oils, Machinery, Vehicles including Boats, Ships, Aircrafts, Electronics & Electricals, Iron & Steel & Articles thereof, Cereals, Plastics, Pharmaceuticals, etc.

Top 20 product groups imported by select African countries ............. [More].
Country at a Glance
Seychelles

Region
Archipelago in India Ocean

Country
Seychelles

Country Head
President JAMES ALIX MICHEL

Capital
Victoria

Population
88,340 (July 2010 est.)

GDP(PPP)
$1.843 billion (2008 est.)

GDP Per Capita
$21,300 (2008 est.)

Main Language
English(official), Creole

 

Seychelles

Seychelles is an archipelago in the India Ocean in Africa with an area of 455 sq km. It has no land boundaries as it is water locked and the costal line stretches to 491km.The country is divided into 25 administrative regions which comprises  of all the inner islands. Eight of the districts make up the capital of Seychelles and are referred to as Greater Victoria. Another 14 districts are considered the rural part of the main island of Mahé with two districts on Praslin and one on La Digue which also includes respective satellite islands. The rest of the Outer Islands are not considered part of any district.

The three most prominent sectors of the economy of Seychelles are fisheries, tourism and the rapidly developing offshore financial services sector.

seychelles

Growth in Seychelles was led by the tourism sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing and small-scale manufacturing. The export of canned tuna, fresh and frozen fish constitutes about 83% of the value of Seychelles exports of goods or about 10% of total foreign exchange earnings. GDP grew about 7-8% per year in 2006-07, driven by tourism and a boom in tourism-related construction.

In addition to the present boom in the tourism and building/real estate markets, Seychelles has renewed its commitment in developing its financial services sector. Government officials and industry participants believe this could overtake the tourism industry as the chief pillar of the economy by 2017. The popularity of Seychelles in the offshore world is growing immensely with the sector setting records each of the last 4 years in a row. The recent passage of a revised Mutual Fund Act 2007, Securities Act 2007 and Insurance Act 2007 are expected to be the catalysts to move Seychelles from just another offshore jurisdiction to a fully fledged Offshore Financial Center (OFC).

Sector Profiles/Investment Opportunities Detail

SECTOR PROFILES

After attaining independence in 1976, Seychelles's per capita output has increased roughly seven times the pre-independence level . The major reasons for growth are tourism and the fishing sector..............Read More

 

 

INVESTMENT OPPORTUNITIES

Seychelles is one of the upper middle class economies of the world. The economy mainly depends upon tourism and the fishing sector. The employment, foreign earnings, construction, banking and commerce is mainly depended on these two sectors..............Read More

 

 

 

 

Apex Bodies

Ministry of Industries and International Business

Seychelles Chamber of Commerce and Industry

Seychelles International Business Authority

 

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Trade Fairs

North American International Auto Show 2010

 

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Useful Information

NATIONAL INDUSTRY CHAMBERS

Seychelles Chamber of Commerce and Industry: http://www.virtualseychelles.sc/busi/busi_scci.htm

OTHERS

Government of Seychelles : http://www.egov.sc/

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Seychelles Nation

Seychelles weekly

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