This week, Seychelles’ vice president Vincent Meriton spoke on a number of subjects, including including the Blue Economy and the development of Seychelles.
Seychelles is dependent on the ocean, and Mr Meriton emphasised the government’s commitment to protect Seychelles’ alimentary, coastal and marine resources. Noting that Seychelles has a vast Exclusive Economic Zone of 1.3 million square kilometres of ocean, Mr Meriton highlighted that the ‘blue bond’ is something that the government is using to further the agenda of the blue economy.
“This will enable residents to access loans at a low interest rate to take part in ocean-related projects,” Mr Meriton added.
Mr Meriton also addressed other concerns. In particular, the Indian Ocean Tuna Commission recently warned of overfishing of the yellow tuna fish in the Indian Ocean and that Seychelles will be the most affected.
Mr Meriton said, “It is high time that we think of ways to practice smart fishing, while reflecting on sustainability.”
Seychelles News Agency reported that Mr Meriton also urged for Seychelles to be used to their full potential to promote more economic activities such as tourism and agriculture. With regards to the opportunities for local investors in the business of transportation between islands, Meriton said that there was untapped potential.