Govt Seeks Investors for Cable Car Project

TradeInvest Africa (Cape Town)

4 May 2011

Editors’ note: This investment opportunity is no longer available: See report of May 6 >>

The Seychelles Investment Bureau (SIB) is seeking investors for a proposed cable car project at the Morne Seychellois National Park. The park is renowned for its high altitude vistas but has narrow trails that are slippery during the rainy seasons. This presents difficulties for the physically disabled tourists and also for those visiting during the rainy season. Investment in a cable car would therefore provide all year, quick and easy access to the top of the national park.

Seychelles is one of the top tourist destinations on the continent and is the country’s single largest foreign exchange earner. The government is now developing niche markets that include diving, sailing, big game fishing, bird watching, bush walking and events.

Investment climate

Seychelles has a Tourism Incentives Act (TIA), which provides support and incentives to the various tourism related activities. Under the TIA, businesses in the tourism industry can be granted a range of incentives including G.S.T concessions on specified imports. Investors are also entitled to business tax and turnover tax concessions as well as concessions on fuel. Seychelles has also signed Double Taxation Avoidance (DTA) agreements with sixteen countries, which allows preferential tax terms for local businesses and businesses registered in Seychelles doing business overseas.

For further information on this opportunity contact Sherin Renaud, the chief executive officer of the Seychelles Investment Bureau.

For more information: http://www.tradeinvestafrica.com/investment_opportunities/466167.htm

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