Money and business

President of Seychelles: New projects with the UAE soon and we are aiming to completely transform renewed energy

Dubai, February 12/ WAM/ His Excellency Wafel Ramicanan, President of the Republic of Seychelles, confirmed that his country and the United Arab Emirates are linked with strong relations based on confidence and mutual respect, which enhances cooperation opportunities in various fields, noting that this cooperation includes large sectors such as cybersecurity , Renewable energy, housing, sports facilities, drug control and rehabilitation.

His Excellency said, in a statement to the Emirates News Agency “WAM”, during his participation in the work of the World Summit of Governments, that the leadership in the UAE has great appreciation and respect in Seychelles, praising the Her Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and His Highness the Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, may God preserve him, enhance bilateral relations.

He added, that the UAE and Six are working closely together, and that the basis of this good relationship is trust and mutual respect, which enables the two countries to work together in various fields, especially with the development of relations between them over the years.

His Excellency explained that he met His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, yesterday, as the two sides discussed ways to improve government services and a number of joint projects between the two countries.

Regarding the field of renewable energy, the President of the Seychelles pointed out that his country seeks to completely shift from fossil fuels to clean energy sources, stressing that there are several existing projects, including the wind energy project, which currently produces 7 megawatts of electricity, and another project produces more than 1 Megat.

He added: “At the present time, there are other projects under implementation with the support of the UAE, where a new wind energy project will soon be established that includes five advanced turbines, each of which produces about 5 megawatts, which will add 25 megawatts to our electricity network, in addition to the panel projects Floating solar.

He explained that Seychelles, whose consumption of electricity ranges between 70 to 100 megawatts, is steadily moving towards achieving its goal in full dependence on renewable energy sources by 2030, stressing that the current trend and commitment to resources and mutual respect with the Emirates are the main factors that drive this wheel Progress.

On the role of the UAE in supporting his country’s economy, His Excellency the President of Seychelles stressed that it is the most prominent investor in his country, noting that Emirates Airlines is the first tourist carrier to Seychelles, along with Etihad Airways, which contributes to strengthening the tourism sector, which is a major source of national income.

He added that the UAE investments in the hospitality and hotels sector in Seychelles play a pivotal role in supporting the local economy, creating new job opportunities, and enhancing the country’s ability to attract more visitors.

The President of Seychelles touched on his country’s efforts to enhance its attractiveness to investors, and said: “We are now seen as a country where corruption is not an obstacle, which must be an additional motivation for investors who can invest in Seychelles with full confidence.”

He noted that Seychel is also ranked first, according to the “Mo Ibrahim” index of good governance, which enhances its position as a country that adheres to the principles and the rule of law.

His Excellency concluded his speech by inviting investors to seize the opportunities that his country provides, stressing that the business environment in Seychelles is characterized by transparency; As everyone is dealt with according to the law, which guarantees rewarding returns on investments within the framework of a profitable partnership for both parties.

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