Economic Transformation Strategy

MESSAGE FROM THE MINISTER OF FINANCE, TRADE, INVESTMENT AND ECONOMIC PLANNING It is therefore not surprising that Seychelles and Mauritius are the first two 'Large Ocean Island Nation States' to have successfully presented their proposal for the joint management of a demarcated area in the Indian Ocean (the Mas- carene Plateau), to the United Nations. Furthermore, the Republic of Seychelles is the very first country to initiate the innovative "Blue Bond", which opens a new avenue for island nations to realise sustainable blue economy objectives. To anchor its stewardship and current pole position at the forefront of the region's environmental conservation efforts and promote its sustainable blue economy concept, Maritime Spatial Planning (MSP) for the Seychelles is currently at an advanced stage and it is hoped that 30 per cent of our EEZ will be designated as marine protected areas. This sovereign act will provide a boost to Seychelles and give even more recognition to its blue economy strategy with its great potential for the country's sustainable economic development in the future. The ambitions of the 'Large Ocean Island Nation States' to realise the aforementioned opportunities do not in any way take precedence over Seychelles' existing commitments to address our current critical socioeconomic challenges. They include the need: - to maintain and improve upon the socio-political environment for dialogue and constructive engagement between different stakeholders to build consensus, - to contain inflation and reduce the cost of living, - to substantially improve our education and health standards, - to substantially abate the increasing trend of substance abuse (drugs and alcohol), - to address the imbalanced demand and supply for decent, affordable housing, - to the provide and improve critical infrastructure for economic development, - - to bridge the widening income inequality gap and lift the 40 percent of the population living below the poverty line to or above the identified income threshold through programmes that develop skillsets for remunerable employment, - to facilitate the private sector's role as the 'engine of growth' for the economy, to ensure that the country's socioeconomic achievements are sustained and delivered with greater efficiency and accuracy through the refinements of quality data collection, processing and analysis for the monitoring and evaluation of progress towards the Sustainable Development Goals (SDGs), - to maintain macroeconomic credibility and stability for greater shared prosperity These are but a few of the pertinent national issues that remain the central focus and an integral part of the NDS 2019- 2023. Allow me, at this juncture, to thank all stakeholders who have in one way or another contributed to the formulation of both the Vision 2033 and the NDS 2019-2023 documents. Your invaluable inputs and observations cannot be over- stated. The most appreciable and critical aspect of the level and quality of the conversations was the spirit and will to move towards consensus that prevailed in all fora. The fruit of all the hard work invested is now in our hands. It is with immense pleasure that, on behalf of the Department of Economic Planning, I have the great honour and privilege to deliver this important economic strategy for us all to familiarise ourselves with and partake in the national growth and sustainable development of our beloved country. Maurice Jean Leonard Loustau-Lalanne Maurice Loustan lelanne Manica 13

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