Jan 28, 2021 365times

Ministry of Finance, Economic Planning and Trade- Press Update

Contribution of Ministry Finance, Economic Planning and TradeContribution of Ministry Finance, Economic Planning and Trade

The Ministry of Finance, Economic Planning and Trade along with the Ministry of Employment and Social Affairs have held a virtual consultative meeting with representatives from the private sector.

The aim of the meeting was to present to the private sector the new revisions being proposed to the GOP Framework. The presentation started with an overview of the labour market to allow the private sector to better appreciate the new dynamic since the beginning of the pandemic.

The private sector was also given the chance to give their views on the announcement by the President of the Republic, that the Financial Assistance for Job Retention or FA4JR, will no longer exists at the end of March.

Present at the meeting held at the Headquarters of the Ministry of Finance, Economic Planning and Trade, Liberty House, was the Minister for Employment and Social Affairs, Mrs Patricia Francourt, and senior officials from her Ministry.

The Secretary of State for Finance, Patrick Payet, was representing the Ministry of Finance, Economic Planning and Trade.

The Chairperson of the Seychelles Chamber of Commerce and Industry, (SCCI), Oliver Bastienne, chaired the meeting on behalf of the private sector.

 Representatives from private businesses included those from sectors such as agriculture, fisheries, financial, telecommunications, tourism, retail, Omnibus operators and civil society.

The chairperson of SCCI, has welcomed the dialogue set forth by the Government, describing the first virtual meeting as ‘positive’, but that far more understanding is needed by government of the current state of affairs of the private sector especially those that have been affected with the new local restrictions and in terms of talent acquisition and diversity, balancing local and expatriate workers for a future-proofed economy.

Furthermore, the SCCI Chairperson states that given the current turn of events globally with regards to the new variant and challenges with global vaccination programs the expectation of getting the economic engine starting in March looks bleaker.

 Whereas Minister Francourt, when closing this first meeting, welcomed the collaboration, stating it is important to get the right ‘balance for employees, employers and the economy’.

“The information shared on the status quo of our labour market highlighted the reality of the trend to come,” said the minister.

“It is very worrying and it is going to be more worrying. We have to have a balance to get it right from all perspectives to help us in our decision- making; subsequently aim to have positive results.”

The information presented at the meeting has been forwarded to the private sector representatives, to further consult with their members and in a week’s time, both parties have agreed to reconvene to consider the final position of the private sector.

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