The economy of Seychelles grew at 5.8% in 2025 according to the latest World Bank estimates, driven by record tourist arrivals. The country consistently records Africa’s highest GDP per capita. «Seychelles is a strong economy, with year-on-year growth and clear opportunities for investment,” says Minister for Fisheries, Agriculture and Blue Economy Wallace Cosgrow.
Beyond its world-class tourism brand, Seychelles offers political stability, an Indian Ocean location and air links across the Gulf, Africa, Europe and Asia. That supports investment in luxury hotels, branded residences, marinas and services.
Energy is also emerging as a key opening. A $35 million renewable energy programme, backed by the World Bank and the Green Climate Fund, is set to attract private capital into solar power generation, battery storage and grid upgrades over the medium term.
Seychelles also offers a clear policy for foreign investors, including 100% ownership in most sectors, tax holidays and work permits for international staff. The process is supported by the Seychelles Investment Board, established more than 20 years ago.
As sustainability takes a central role in Seychelles’ national strategy, Environment Minister Marie-May Jeremie notes that the environment has always formed the backbone of the economy. “The leading sectors, fisheries and tourism, depend on natural resources and on how well we manage them,” she says.
That foundation continues to shape priorities as the ministry targets the blue economy as a pillar of the economic diversification agenda. “The ocean space holds many untapped areas that could attract investors, research and innovation,” Jeremie says. “We need to look at all the ways we can remain relevant while remaining sustainable.” A major step towards that is the Marine Spatial Plan, designed to balance conservation with economic development across the nation’s 1.4-million-square-kilometre exclusive economic zone. “The plan has created opportunities by identifying key sectors and areas with growth potential beyond conventional fisheries and tourism,” Jeremie adds.
Complementing this is a supportive policy framework for renewables, tailored to the country’s needs. The ministry is engaging with industry, investors and UAE partners to facilitate a target of 15% renewable energy by 2030 – and 100% by 2050. “We are laying the groundwork so that when investors bring innovation and ideas to grow the sector, they do not encounter unnecessary barriers and bureaucracy,” says Jeremie.
PUC provides power, water and sewerage for national development.
The Public Utilities Corporation (PUC) is responsible for electricity, water and sewerage services across Seychelles. As the sole national utility provider, the company has built its reputation on service reliability and operational resilience, becoming crucial to local development. “My strategic focus has evolved from stabilising operations in the post-pandemic period to positioning PUC as a resilient, future-ready utility,” says CEO Joel Valmont.
To strengthen energy security, PUC implemented a bridging solution providing 4 MW of additional capacity and procured firm generation capacity totalling 16 MW for Mahé and 8 MW for Praslin. Tariff adjustments across electricity, water and sewerage are being used to safeguard financial sustainability and maintain service reliability.
“We are a credible infrastructure partner delivering bankable projects,” says Valmont. “With demand projected to grow at 3% to 4% per annum, investment sequencing is structured.”
PUC recently negotiated its first power purchase agreement for a 6 MW floating solar project, expected to be commissioned this year. With a clear commitment to the transition agenda, PUC sees significant scope for cooperation with UAE partners across renewables, grid modernisation and more. “Seychelles offers a compelling investment environment,” says Valmont.
