President Wavel Ramkalawan today, Wednesday 23rd June, chaired a virtual meeting of the Cabinet at which a number of legal and policy memoranda were considered.

Cabinet approved the formalisation of the Hybrid Licensing System for Seychelles.  This system will give the power to designated relevant authorities (such as the Public Health Authority and the Financial Services Authority) to issue licenses.  This is aimed at improving the ease of doing business as well as providing direct support to prospective investors in the preliminary stage of setting up their business.  

Cabinet approved the introduction of a Provisional License in the SLA ACT, 2010. This would facilitate the establishment of activities where the promoter seeks to introduce new and/or innovative projects but policies or regulations are lacking or absent to govern these activities. 

Cabinet also approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The main purpose of the signing of the Convention is to allow for amendment of Seychelles Double Taxation Avoidance Agreements (DTAAs) to align Seychelles with the requirements of the OECD. 

Cabinet also approved amendments to the Public Procurement Act, 2008. Section 14 (1) which addresses the composition of the National Tender Board, in light of the fact that the tenure of office of the members will end on 31st July 2021, and Section 99(1) which deals with the composition of the Review Panel will be amended in order to allow for some flexibility in the manner in which the respective members are selected, without compromising the principles governing public procurement.

The Respective Ministries and Departments will provide further information to the media