Seychelles Business
• Main exports: Canned tuna, fish, prawns and re-exports of petroleum.
• Main imports: Food and live animals, manufactured goods, fuel and machinery.
• Main trade partners: UK, France, Saudi Arabia, Italy and Spain.
Economy
Fishing has become increasingly important from the 1980s onwards, both through expansion of domestic operations and the lucrative sale of licences to foreign fleets.
Industry comprises a small mining sector plus light and small-scale industries including food and drinks (notably a tuna-canning operation) and boat-building. There is also a thriving re-export business based on a recently established export-processing zone.
The economy's heavy dependence on tourism makes it especially vulnerable to external factors (such as the 9/11 attacks on the USA).
The economy contracted by 2.8% in 2005. The main financial problem is the size of the country's external debt. The Seychelles must import many essential products (an expensive process given the islands' location) and this consumes the bulk of the foreign exchange earned from tourism.
Business Etiquette
Office hours: Mon-Fri 0800-1600.
Business Contacts
PO Box 599, Ebrahim Building, Victoria, Mahé
Tel: 323 812.
Seychelles International Business Authority
PO Box 991, Victoria Mahé
Tel: 380 800.
Website: www.siba.net
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