The Seychelles Fishing Authority (SFA) has picked the first six preferred aquaculture investors in the island nation’s mariculture sector as the government opens its fish-farming space to private investments.
SFA’s aquaculture department has awarded the fish-farming permits to Ah-Time Dry Sea Products, Harmony Investments, Maxime Michel Spanner, Islands Development Company (IDC), Gonzague Dailoo, and Rock Oyster Property. The companies have been licensed to invest in diverse aquaculture business operations in the Seychelles including production, hatcheries and nurseries, and research and development for sea cucumber, prawns, spanner crab, mud crab, and rock oyster aquaculture.
A total of 15 investors applied for permits to launch aquaculture business projects, according to SFA.
“Firstly, this will allow us to save our foreign exchange and secondly, when it comes to fish stocks, we need to be aware that the stocks are not unlimited, but are rather, under pressure. While we are fishing from nature, we are also producing to allow us to strike a balance,” Seychelles Designated Minister and Minister for Fisheries and the Blue Economy Jean-François Ferrari said in a release. “It is a circular economy which benefits everyone, and while it will help us with exports, it will also help us to supply the local market.”
One of the recently licensed businesses, Harmony Investments was the lead partner that launched a research and development project on hatchery cultures of the Echinodermata and Holothuroidea species of sea cucumbers in 2021.
The project’s objective is to “set up a small-scale R&D trial hatchery for the propagation of juvenile Sea Cucumbers for subsequent use in sustainable commercial production,” according to the Seychelles Climate Change Adaptation Trust, which provided SCR 1 million (USD 72,000, EUR 68,000) in financing for the 18-month venture.
Harmony Investments Director Christopher Lespoir said Seychelles’ sea cucumber stocks are under immense pressure, despite the species’ critical role in the marine ecosystem.
“Eventually, we have the intention of venturing into the business and to also create opportunities for those already in the industry, but whose businesses are being threatened by depleting stocks,” he said.
Lespoir said there is growing demand for sea cucumbers, especially in China and Taiwan.
"Demand is more than what is being supplied, and this is what is putting pressure on our natural stocks," he said.
The Seychelles Ministry of Fisheries and Blue Economy is inviting private sector investment in the country’s mariculture sector based on the globally promoted ecosystem approach to aquaculture strategy, which entails integrating seafood production “within the wider ecosystem such that it promotes sustainable development, equity, and resilience of interlinked social-ecological systems.”
The Seychelles government previously developed the country’s mariculture master plan after two studies launched to determine the desirability of developing marine aquaculture in the country “revealed positive support for the development of an environmentally and socially responsible mariculture sector.” The licensing of new mariculture investors is part of Seychelles plan to effectively and sustainably grow its marine aquaculture sector, it said.
Photo courtesy of the Seychelles Fishing Authority
