Session 3: Republic of Seychelles’ Blue Economy - Pathway to Prosperity

Facilitator:

Mr. Phillippe Michaud Special Advisor on Blue Economy, Office of Vice President

Speakers:

Ms. Rose-Marie Bargain Principal Secretary, Blue Economy Department, Office of Vice President

Ms. Dominique Benzaken Senior Ocean Governance Advisor, Office of Vice President

Mr. Alain de Comarmond Principal Secretary Environment, Min Environment, Energy and Climate Change

Mr. Martin Callow CEO Seychelles Conservation and Climate Adaptation Trust SeyCCAT

Mr. Michael Nalletamby Department of Investment

Ms. Kalsey Belle Youth perspective

Financing Sustainable and Climate-Resilient Ocean Economies in AfricaFebruary 2018

Peaceful Island Life

Investing in Seychelles’ climate smart Blue Economy

The Blue Economy Strategic Policy and Roadmap:Charting the Future

2018-2030

Ms. Dominique BenzakenSenior Advisor on Ocean Governance

Blue Economy Commonwealth

• Large Oceanic State

• Small Island Developing State (SIDS)

• 94,000 population

• Ocean as a development space; driver of current and future prosperity

• Challenges & opportunities

SEYCHELLES

Exclusive Economic Zone 1.37 million sq kmSecond largest EEZ in Africa

Blue Economy – A Strategic and Policy Roadmap

1. Integrated framework for ocean-based sustainable development• Economic, social and environmental

2. Predictable policy environment for investment• Seychelles “Blue Economy Brand” as comparative advantage

• Build on Seychelles law & policies & flagship initiatives

• Prioritized agenda for action & investment to 2030 (SDG)

3. Governance arrangements to make it happen• Ocean governance. Whole of government

• Transparency and accountability

Seychelles Cabinet approved Blue Economy Roadmap on 31st January 2018

“To develop an ocean based/blue economy as a means of realizing the national’s economic, social and culturalpotential through innovation, knowledge based approach, being mindful of the need to conserve the integrityof Seychelles Marine Environment and heritage for present and future generations”

Blue Economy – Vision. Goals. Principles.

Priority 1: Creating Sustainable Wealth • Diversify existing sectors: fisheries, tourism, ports. Value add; Quality not quantity, sustainability• Explore emerging sectors: mariculture, energy, biotechnology, digital connectivity, trade.

Priority 2: Sharing Prosperity• Food security and well being: local production systems and markets• Education, training, jobs and employment for the future • Business environment: local investment, innovation, SMEs, entrepreneurship

Priority 3: Securing Healthy and Productive Oceans• Ecosystem service accounting; • Protecting marine &coastal assets and threats reduction: MAPs, marine pollution• Climate resilience mitigation (Blue C, energy) and adaptation

Blue Economy – Strategic Priorities for Investment.

Priority 4: Strengthening the enabling environment - cross cutting issues• Marine Spatial Planning

o Setting the rules for ocean use. Stakeholder negotiation

• Research & Development, innovation

o Knowledge for management and new opportunities

• Financing the Blue Economy - public and private investment

o High Income country

o Blended finance: World Bank SWIOFISH3, Seychelles Blue Bond

• Maritime security and Blue Economy

• Partnerships, regional cooperation & international engagement

• Governance

o Strategic oversight of implementation

o transparency& accountability

o Monitoring and review

Blue Economy – Strategic Priorities for Investment.

Seychelles Marine Spatial Plan: healthy oceans, communities and the Blue Economy

Mr. Alain De Comarmond, Principal Secretary EnvironmentMinistry Environment, Energy and Climate Change

1. Protects 30% Seychelles’ waters.2. Addresses climate change adaptation.

3. Supports the Blue Economy.

Develop a Seychelles Marine Spatial Plan by 2020 that:

More than 11 marine sectors and groups

Plan for sustainable ocean development

using a public process with participation and

input from all key stakeholders

Amirantes to Fortune BankArea of Outstanding Natural Beauty” (NPNCA)

136,169 square km10.8 % of waters

Zone 2: Medium Biodiversity Protection & Sustainable Uses

Ecologically rich Productive watersSustainable economic uses

Aldabra GroupMarine National Park designation (NPNCA)

74,400 square km5.4 % of waters

Zone 1: High Biodiversity Protection

Surrounds existing Special Reserve and UNESCO site

Seychelles Marine Spatial Plan: Phase 1

Gather and review data;

mapping

Develop zoning

process

Review and revise;

iterate

Define zone

categories

Define Governance Framework

Define Stakeholder Committees

Develop zoning

proposals

Identify highpriority areas

for conservation

2014 2015

Allowable activities &

management considerations

Draft MSP

Policy

Draft implementation and governance

20172016

Phase 2 Marine

Spatial Plan

2018

NPCNA- National Park and Nature Conservancy Act

Phase 1: • Marine Protected Areas – 15% • Allowable Activities • Management Considerations• Planning tools and website• MSP Atlas• Draft Marine Spatial Plan • Draft MSP Policy• Draft MSP Implementation & Governance

Phase 2: o Marine Protected Areas – 15% o Socio-economic impact analysiso Financing and Cost Analysiso Complete Marine Spatial Plan and Implementation

Seychelles Marine Spatial Plan Outputs

Martin Callow

CEO

Seychelles’ Blue Economy : Pathway to Prosperity

SeyCCAT is….SeyCCAT is...… independently registered, legally established under its own Act (2015).

… governed by a public-private Board of Directors, Finance & Grants committees.

… structured for grants, loans and investments.

… a vehicle to sustainably flow funds to support our five strategic objectives.

… managing Blue Funds comprised of Debt Restructuring proceeds, and will co-manage a proportion of the proceeds of the Blue Bond.

… aiming to disperse approximately US$750,000 per annum, from 2018.

… committed to developing strong and lasting collaborations.

… exploring other mechanisms to grow our assets and to support conservation, sustainable fisheries, climate adaptation and blue economy initiatives.

... interconnecting with Seychelles financial ecosystem (BIF, SIB, PPP, etc).

SeyCCAT’s model works… debt swap + blue bond +..?

SeyCCAT is….Our Blue Funds… and strategic objectives...

SeyCCAT is….Evolving SeyCCAT’s blended Blue Funding model...

SeyCCAT is….Our Partners... so far... “thank you”

Initiatives to Facilitate Private

Investment in Seychelles

Mr. Michael Nalletamby, Department of Investment

Financing Sustainable and Climate-Resilient Ocean Economies in AfricaFebruary 2018

Current Situation

• Government Initiatives for Business Development• Small Business Financing Agency, Small Enterprise Promotion Agency, the SME Scheme,

Seed Capital, micro-enterprise centres etc…

• Streamlining of processes reducing time taken

• Significant impasses - existing businesses and potential investors complain• Unclear procedures

• Inconsistent standards

• Lack of clarity as to where which business may be carried out

• Preferential treatment and double standards and

• Multiple layers of procedures and approvals required

Initiatives to Facilitate Private Investment in Seychelles

Ease of Doing Business

• High Level Doing Business Committee (HLDBC)• VP, Ministers, Private Sector

• Address issues affecting business

Use World Bank ‘Ease of Doing Business’ Report

• Ranking 95th of 190• Starting Business• Getting Construction Permit• Getting Electricity• Registering property• Getting Credit• Protecting Minority Investors• Paying taxes• Trading across borders• Enforcing Contracts• Resolving insolvency Initiatives to

Facilitate Private Investment in Seychelles

• Technical sub-committees - fortnightly

• Plans of Action improving processes and requirements

• Including more use of ICT

• Establish focal points in relevant MDAs

• Reporting to HLDBC bi-monthly

• Reporting to Cabinet of Ministers quarterly

• Exercise ongoing

Ease of Doing Business

Initiatives to Facilitate Private Investment in Seychelles

Maintain Focus on:

• Minimum Standards - health, hygiene, safety, security, environment, ethics, legal and fiscal issues

• Making the requirements and standards legal, transparent and accessible

• Publish allowable activities incl. Blue Economy Activities

• Place the onus on the private developer to respect them

• Authorities ensure compliance• routine or spot checks • take action against non-compliance according to the laws

Initiatives to Facilitate Private Investment in Seychelles

New Approach – Conceptual Stage

• Legalise & Publish• National Land Use Plan, Marine Spatial Plan• Minimum Standards - health, hygiene, safety, security, environment, ethics, legal and

fiscal

• Determine Allowable Activities (Positive Listing) incl. Blue Economy Activities (BE Roadmap), Reserved categories, open to foreign investors, subject to Management Plans where applicable

• Identify public bodies for registration, certification, permits or licenses (single, groups or sector bodies)

• Legally establish position regarding cross-cutting issues – Vertical Integration and Mergers etc.

• Investors – Decide project, consult legal requirements design & submit accordingly

Initiatives to Facilitate Private Investment in Seychelles

Proposed System

In view of decided list of allowable activities:• Approval v/s check for compliance standards for project idea

• Technical considerations

• Physical development appraised on published standards• Straight Approval

• Conditional Approval

• Deferral for meeting standards

• Authorities ensure compliance through checks – act accordingly

• Onus on developer/operator

Initiatives to Facilitate Private Investment in Seychelles

Proposed System

Who are we?

Blue Economy : Youth Perspective

Marine-Related Initiatives (2014-Now)

• Youth-led NGO (entirely dependent on volunteers)

• promoting and advancing sustainable development

• Blue Economy Internship Programme• ‘Say No To Plastic Bags’ Campaign• Marine Debris Challenge• Wetland Rehabilitation Project• ‘Sea You in Seychelles’ Reusable Bags• Climate Accountability Advocates

Session 3: Thank You. Question & Answer

Facilitator: Mr. Phillippe Michaud, Special Advisor on Blue Economy

Financing Sustainable and Climate-Resilient Ocean Economies in AfricaFebruary 2018

Initiatives to Facilitate Private Investment in Seychelles