December 06 2011 -- President James Michel has announced the creation of a National Economic Council which will have the function of advising Government on the best economic policy for sustainable national growth and development.

The Council will meet regularly to discuss matters raised by its Members, or referred to it by the Government.  The Council may commission and analyse such data and information as may be required to enable it to advise Government on suitable economic strategies, and to determine the extent to which existing national programmes meet strategic economic objectives.

In announcing the setting up of the Council, the President noted that the world economy is becoming increasingly fragile, and it was important for Seychelles to ensure that its national development strategy was founded on a thorough understanding of the economic environment and the dynamics of the emerging forces shaping the future of the world economy.

"Continued economic success depends on the cooperation of all stakeholders.  Working for the benefit of Seychelles is paramount in every decision-making process.  The National Economic Council will serve as a hub for information, debate and advice, in the process of developing sound national economic policy," the President said.

The President will chair the National Economic Council.  Its Vice-Chair will be the Vice-President and Minister responsible for Finance, Mr Danny Faure.

The other Members of the NEC are:

Minister Joel Morgan - Minister of Home Affairs, Environment, Transport & Energy;
Mr Pierre Laporte - Governor of the Central Bank of Seychelles;
Dr V Ramadoss - Chairman of the Seychelles Chamber of Commerce & Industry;
Mr Conrad Benoiton - Managing Director of Appleby, a company specializing in Financial Services;
Mr Brijesh Jivan - an Investment Advisor in the private sector;
Mr Ahmed Afif - Principal Secretary for Finance & Trade;
Mr Patrick Payet - Deputy Comptroller-General;
Mr Steve Fanny - CEO of the Seychelles International Business Authority;
Mr Michael Benstrong - CEO of the Seychelles Savings Bank;
Mr Alain St Ange - CEO of the Seychelles Tourism Board;
Mr Louis D'Offay - Chairman, Seychelles Hospitality & Tourism Association (SHTA);
Mr Glenny Savy - CEO of the Islands Development Company (IDC);
Mr Walter Labrosse - General Manager of Laxmanbhai & Company;
Mr Michel Mellie - Principal Statistician, National Bureau of Statistics;

Mr Mohammed Afif, Secretary of State for Cabinet Affairs, will serve as Secretary to the NEC, whose Secretariat will also be based at the Cabinet Office.