Since the arrival of Seychelles first inhabitants, the country has relied on the rich, surrounding fishing grounds to support its economy. In more recent years, fishing in Seychelles’ waters has developed from an industry intended primarily to sustain the local population to one able to compete internationally as a vital foreign currency earner for Seychelles.
Home to industrial fishing fleets from the European Union and Far East, Seychelles lies at the centre of the western Indian Ocean tuna migratory routes, making it the region’s most efficient hub from which to fish tuna and tuna-like species. It is therefore economical in light of the recent increase in international fuel prices, which have inflated the cost of sailing to and from fishing grounds. Seychelles, in fact, is the shortest distance to and from 90% of the tuna fishing grounds in the Indian Ocean. It is strategically located for fuel efficiency and the Seychelles port provides 24 hour services with a very low turnaround time.
Today, a thriving, Seychellois-dominated, artisanal and semi industrial sector supplies the local market and sends high value-added fisheries products to the international market.
Industrial fisheries are led by European purse-seiner tuna fishing boats, which maintain a steady supply to the world’s second largest tuna cannery, Indian Ocean Tuna (IOT ), owned by MW Brands 60% and SSI 40% based in Victoria.
Fishing Investment Areas :
- Long -line fishing projects
- Mari and Aqua culture
- Processing and value addition
- Cold Storage and other related services
- Investment opportunities
Aquaculture in Seychelles has great potential. The ambient environmental characteristics of Seychelles coupled with the new investment incentives on offer will make this sector irresistible to prospective investors.
For more information on this type of opportunity, contact the Seychelles
Fishing Authority (SFA) ( email@example.com).
A wide variety of opportunities exist in the processing and value addition of tuna, such as tuna loins, sashimi, sushi, and tuna steaks for the international market. Other tuna-like species have also been identified as having potential for processing and export.
In addition, the expected growth in the tourism sector will generate increased local demand for the supply of Seychelles’ seafood. In 2009, the Government launched the Fisheries Development Fund to assist Seychellois to venture in this activity with a possibility of joint ventures with foreign investors.
Tuna Fishing Fleet
The assurance of supply for the processing and value added activities can only be guaranteed by an increase in the number of locally registered fishing vessels, especially for tuna and tuna-like species.
The government is fully committed to the development of the industry and provides support for increased Seychellois access to equity and the Fisheries Development Fund also assists local entrepreneurs in the purchase of larger long line fishing vessels.
Retail/Distribution Centre for Marine Equipment’s
Opportunities exist for the retail and distribution of marine and fishing equipment. With the ever-increasing number of fishing and yachting activities including sports fishing, opportunities exist for the retail and distribution of marine and fishing equipment.
Marine/Electronic Repair Shop
Through the availability of such facilities, local boat owners as well as the foreign owned vessels will enjoy a choice of supplies with areas earmarked for such activities covered in the port redevelopment plan. These activities may be under-taken in partnership with Seychellois entrepreneurs.
The rapid growth in maritime traffic, charter boats, fishing vessels, yachts and other maritime-related activities has led to an ever increasing demand for repair facilities. Seychelles’ pristine environment makes it difficult to embark on a major dry dock project but possibilities do exist for small marine, electronic and boat repair facilities. This will enhance the services already being offered for net repairs.
In common with government objectives, the development of the fisheries sector will be directed towards achieving the maximum potential benefit for the national economy and people of Seychelles, while being mindful of the finite nature of injudiciously exploited marine resources