Pierre Frank Laporte, appointed in November 2025 as Seychelles’ minister for finance, economic planning, trade and investment, is focusing on modernizing the island nation’s economy by enhancing infrastructure, digital efficiency, and investment policies to strengthen its appeal to international, particularly UAE, investors.

Laporte, who previously served in the same ministerial position and brings experience from the World Bank, the International Monetary Fund, and as governor of the Central Bank of Seychelles, outlined a strategy aimed at sustaining the country’s status as a high-income African nation while fostering balanced economic growth. His policy agenda prioritizes maintaining macroeconomic stability and cultivating a business environment that encourages private sector-led investment to increase employment and income levels.

Central to the government’s plan is the development of a robust human capital base. Laporte emphasized reviewing Seychelles’ health and education systems to ensure the workforce can meet modern economic demands. Alongside this, the government aims to upgrade critical government agencies and infrastructure, with an emphasis on building a strong information and communications technology (ICT) backbone. The integration of artificial intelligence across sectors such as health, education, and government services forms part of this modernization effort.

Tourism, a well-established sector in Seychelles, remains the primary growth engine. Laporte highlighted the need to balance maintaining the archipelago’s status as a high-value destination with attracting sufficient visitor volume to drive economic efficiencies. He also identified fisheries, real estate, energy—including the transition to renewables—and ICT as key sectors with potential for greater private investment. Furthermore, early seismic assessments have suggested possibilities for petroleum exploration, opening another avenue for foreign investment.

The government is working to create a conducive investment climate by leveraging Seychelles’ liberal exchange controls, which impose no restrictions on foreign funds entering or leaving the country, including profit repatriation. The financial sector supports both domestic and foreign currency accounts without facing foreign exchange shortages or centralized transfer approvals. Additionally, Seychelles operates a modern Financial Services Authority to oversee non-banking financial entities.

Fiscal policy focuses on transparency and targeted incentives rather than broad tax reductions. While tourism remains a priority, sectors with growth potential such as agriculture and fisheries receive enhanced support, including lower tax rates or exemptions.

For UAE investors, the Seychelles government encourages engagement through a variety of opportunities, including public-private partnerships facilitated by new frameworks and a forthcoming Seychelles Sovereign Investment Fund. Investors can operate independently or collaborate with local partners depending on sector requirements.

To attract UAE investment in tourism and real estate, Seychelles offers streamlined approval processes through the Seychelles Investment Board, which coordinates necessary permits across departments. Incentive schemes in tourism include accelerated depreciation for renovation projects and value-added tax flexibility during construction phases. Real estate investors benefit from residency options linked to property purchases.

Laporte underscored that while Seychelles has reached high-income status, the government’s vision is to propel the nation further by creating a modern, efficient, and technologically advanced economy that benefits both its citizens and foreign investors, particularly from the UAE.