The Department of the Blue Economy was established in 2015 within the Ministry of Finance of Finance. The Principal Secretary was Miss Rebecca Loustau-Lalanne who initiated the development of the Blue Economy Strategic Policy Framework and Roadmap with the assistance of the Commonwealth.
In 2017, Mrs Rose-Marie Bargain took up the helm as Principal Secretary as the Department of the Blue Economy was transferred to the Vice-President’s Office, under Vice President Vincent Meriton, and launched the Blue Economy Strategic Policy Framework and Roadmap.
The Department of the Blue Economy assigned to Ambassador Barry Faure who became the Secretary of State for both Foreign Affairs and The Blue Economy in 2019 and Mr Kenneth Racombo became the new Principal Secretary.
Blue Economy Concept in Seychelles
The Blue Economy concept acknowledges small islands’ unique dependencies on oceans and their vulnerability to environmental and economic risks. It proposes options for mitigating some of the inherent structural challenges of small, undiversified economies, including small populations, high dependency on imports, limited space, skills, capacity and high unit costs of providing public services. Small domestic markets, limited natural resources and vulnerability to economic shocks, extreme weather patterns and climate change impacts are circumstances to which many island countries are prone.
Implementing a Blue Economy approach offers twin advantages of realizing economic and social benefits while at the same time improving environmental sustainability and climate resilience. It also promotes equity in access to, development of, and sharing of benefits from marine resources including the ability to mobilize capacity and manage resources.
The mandate of the Department is to provide strategic direction and coordination of the Blue Economy implementation, as part of the continued sustainable development of Seychelles.
To develop a Blue Economy as a means of realising the nation’s development potential through innovation and knowledge-led approaches, being mindful of the need to conserve the integrity of the Seychelles marine environment and heritage for present and future generations’.
The Vision encapsulates 7 overarching Blue Economy principles: economic efficiency, sustainability, social equity, resilience, innovation, transparency and accountability and partnerships.
It is articulated through 4 Strategic Priorities or Pillars: