See also:
» 02.02.2010 - Seychelles appoints ambassadors to boost tourism
» 11.11.2009 - Somali pirates seize SA bound cargo ship
» 09.11.2009 - W/B helps Seychelles out of economic deep end
» 23.10.2009 - Seychelles takes additional measures against piracy
» 18.08.2009 - Seychelles must tighten macroeconomic stability, IMF
» 19.05.2009 - IMF encouraged by Seychelles' reforms success, but warns...
» 01.04.2009 - IMF approves disbursement of Seychelles’ stand-by arrangement
» 09.12.2008 - Calls for national unity govt in Seychelles











China wholesale online through DHgate.com


Finn autentiske matoppskrifter fra hele verden på Verdensmat.no:
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares


Autentiske matoppskrifter fra hele verden finner du på Verdensmat.no:
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike


Seychelles
Politics | Economy - Development

Piracy costs Seychelles millions

Seychelles Finance Minister and Vice President Danny Faure

© Seychelles govt/afrol News
afrol News, 8 December
- Pirate activity in Seychelles' waters is very limited, but nevertheless it costs the small nation millions of dollars in lost revenues from fishing and tourism, and in extra transport costs.

According to the national budget speech made yesterday by Seychelles Finance Minister and Vice President Danny Faure in the Victoria parliament, piracy is becoming a larger and larger cost for the island nation of only 85,000 inhabitants.

"Piracy in our waters continues to pose a real threat to our economy," Vice President Faure told Seychellois MPS. "The tourism sector and fishing especially have been affected," he said. Also, the cost of imports had also increased "due to insurance for cargo bound for Seychelles increasing."

Growing transport costs indeed are taking their toll. According to recent government estimates, the cost of freight for the Seychelles Petroleum Company (SEPEC) alone and the cost of diversion would cost over US$ 1.5 million and that for other cargo vessels was approximately US$ 3 million Mr Faure explained.

"Other charter vessels and the tourism industry in general will lose another US$ 8 million," the Vice President revealed. The losses in the tourism sector were due to cancellations as occasional piracy reports hit international news, but also a lower rate of cruise ships and leisure sailors.

Seychelles strongly depends on its tourism sector. According to Mr Faure's budget speech, tourism "contributes 25.5 percent of our GDP, and is the biggest employer in the country." Despite some piracy-related cancellations, arrivals in 2010 so far have increased by 11 percent compared to the same period last year.

The fisheries are another major sector and employer in Seychelles and pirate attacks on local and foreign fishing vessels in and near Seychellois waters were affecting activities negatively. "We estimate the fishing sector will lose another US$ 4million" in 2011, Vice President Faure said.

"This means that piracy will cause Seychelles to lose almost US$ 17 million" in 2011, he concluded. However, Mr Faure emphasised, one also had to "add the cost of patrols within our territorial water."

The Seychellois coastguard has strongly stepped up its activities to secure national waters, acting together with foreign navies that patrol the waters of the western Indian Ocean. The coastguard has noted several successes in freeing civilian vessels captured by Somali pirates, including several Seychellois fishing crews.

The ongoing threat by Somali pirates has caused extraordinary losses and costs for all governments in the region, especially increased freight coasts and increased military costs.

However, the Seychelles government also is receiving increased foreign aid to capacitate its security sector. Vice President Faure said that large grants from the Chinese government and European Union would go to the new coastguard building and facility.


- Create an e-mail alert for Seychelles news
- Create an e-mail alert for Politics news
- Create an e-mail alert for Economy - Development news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com