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Indian Ocean Island Holidays
Seychelles Background
Politics
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The Republic of Seychelles has
a multi-party political system with
an executive President as head of
state and government. The President
heads a Cabinet of 10 ministers which
includes the Vice-President. In April
2004 Mr. James Alix Michel replaced
Mr. France Albert René as President
after Mr. Rene had been in office
since 1977. The Vice President is
currently Mr. Joseph Belmont.
Legislative power is vested in a
National Assembly of 34 members of
whom 25 are elected directly in constituencies
with the balance on proportional basis
based on the results of the National
Assembly elections. The Seychelles
People’s Progressive Front (SPPF),
currently led by President Michel,
holds 23 seats in the Assembly. The
main opposition party, the Seychelles
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National Party (SNP, previously known as
the United Opposition) holds the other 11seats.
SNP is headed by Rev. Wavel Ramkalawan.
The other main political party (not currently
represented in the National Assembly) is
the Democratic Party (DP), headed by Mr.
Paul Chow. The Seychelles is a member of
the United Nations, the African Union, the
Commonwealth and La Francophone.
The new Seychelles flag was introduced on
June 18, 1996 (National Day). The five oblique
bands of colour represent a dynamic young
country moving into a new future. The blue
depicts the sky and the sea that surrounds
the Seychelles. Yellow is for the sun which
gives light and life, red symbolizes the
people and their determination to work for
the future in unity and love, whilst the
white band represents social justice and
harmony. The green depicts the land and
natural environment.
Economics
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Since independence in 1976, per
capita output in this Indian Ocean
archipelago has expanded to roughly
seven times the old near-subsistence
level. Growth has been led by the
tourist sector, which employs about
30% of the labor force and provides
more than 70% of hard currency earnings,
and by tuna fishing.
In recent years the government has
encouraged foreign investment in order
to upgrade hotels and other services.
At the same time, the government has
moved to reduce the dependence on
tourism by promoting the development
of farming, fishing, and small-scale
manufacturing. Sharp drops illustrated
the vulnerability of the tourist sector
in 1991-92 due largely to the Gulf
War, and once again following the
11 September 2001 terrorist attacks
on the US. Growth slowed in 1998 -
2002, and fell in 2003, due to sluggish
tourist and tuna sectors, but resumed
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in 2004. Growth turned negative again in
2005-06.
Tight controls on exchange rates and the
scarcity of foreign exchange have impaired
short-term economic prospects. The black-market
value of the Seychelles rupee is half the
official exchange rate. The unemployment
rate hovers around the 10% mark, exceedingly
low for an African country, and the Seychelles
has the highest literacy rate in Africa.
Agriculture in Seychelles faces an uphill
battle because of the lack of arable land
with decent soil (only 400 hectares - about
1000 acres or 1.5 sq miles) and extreme
rainfall patterns throughout the year. The
government provides great assistance to
the industry by having reduced import taxes
and duties on agricultural equipment and
fertilizers and by eliminating income taxes
for registered farmers. Currently tea and
products to support the tourism industry
(fruits, vegetables, poultry and pork) are
doing well. Cinnamon, vanilla, copra and
tobacco are not doing as well due to world
market conditions.
Because of its exceptionally large Exclusive
Economic Zone, Seychelles is a world leader
in transshipment of tuna fish and products.
Considerable income is produced by the foreign
fishing vessel licensing and by supplies
and services for those ships. Indian Ocean
Tuna (a majority of which is owned by Heinz
International) processes over 110 tons each
day resulting in over U$20 million, the
largest single export. Almost all commercial
fishing activity passes through Victoria
harbor.
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