Obstacles to entrepreneurship and FDI

Seychelles aims to become a knowledge-based and innovation-driven economy. The entrepreneurship ecosystem, which is at an embryonic stage, has a key role to play in achieving this goal. The Government has accelerated efforts to promote its development by elaborating a comprehensive set of policies, strategies, and establishing support institutions. While pursuing similar or complementary objectives, these initiatives remain fragmented and do not sufficiently foster innovative business solutions to address current, emerging and future market demands. This is reflected in the relatively low levels of innovation, spillovers and linkages, including between foreign investors and domestic entrepreneurs. The impact of the initiatives could be improved by clarifying the synergies between investment and entrepreneurship policies, setting specific targets for the type of investors and entrepreneurs needed, and strengthening institutional coordination. This chapter analyses the Government’s efforts to remove bottlenecks to entrepreneurship development as well as investment facilitation and promotion. Based on the analysis of chapter I, UNCTAD’s EPF and IPFSD, and on the stakeholders’ survey, it provides recommendations to assist Seychelles in developing coherent policies for the emergence of an innovative entrepreneurial culture and ecosystem (UNCTAD, 2012 and 2015).

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