Fish processing helps reduce food loss and waste, continuously provides the market with products, maintains fish intake and thus reduces the pressure on the fisheries resources, and fosters sustainability of the sector (19).

Investments in fish processing diversify the agricultural production base in the country, support value-adding and product development to improve net gain in the sector and increase exports consistent with international standards (7).

The fish processing business model can secure fish stocks and reasonable prices on the market during seasonal weather changes (20). In addition, fisheries are made more resilient to climate change by incorporating adaptation and mitigation measures within fisheries management.

If not managed sustainably, an increased industrial fish processing activity may lead to overfishing and harm marine biodiversity and the fish population.

Waste generated by fish processing activities, including discards of fish and wastewater, may cause environmental externalities if left untreated.

The impact might be hindered by reliance on harvest from overexploited marine resources, amidst unstable and declining catch rates and limited fish supply from other harvesting opportunities such as aquaculture, for continuous and at-scale business operations (15, 20).

Small-scale fisheries may be driven out of the market by bigger competitors, which may, in turn, limit the direct impact on communities.

Increase value addition from fisheries, enhance industrial capacity and export volumes and improve employment opportunities.

Seychelles National Development Strategy, 2019-2023: Sets fisheries as one of the key intervention areas, highlights a need to make fisheries more sustainable and outlines the need to diversify the economy by increasing the value-added contributions (23).

Fisheries Comprehensive Plan, 2019: leads the development of the fisheries sector for the next three years and presents a vision for the future with goals and objectives for all fisheries-related activities, particularly for the fish processing sub-sector (5).

Seychelles Fishing Authority Strategic Plan, 2018-2020: set out the long-term vision, mission and adopted values of the Seychelles Fishing Authority (SFA), provides the strategic priorities of the organization for the next three years, is guided by the sector plans for fisheries and mariculture (4).

Seychelles Blue Economy: Strategic Policy Framework and Roadmap (2018-2030): This is an integrated approach to ocean-based sustainable development which brings together the economy, environment and society, prioritizes diversifying the existing ocean-based sectors, focusing on value-adding (14).

Reserved Economic Activities Policy, April 2020: ensures that certain economic activities that are doable and affordable to the Seychellois investors and businesses shall remain reserved for them; the list includes artisanal fishing, including demersal fishing (36).

Financial incentives: Blue Investment Fund (BIF) loan scheme offers up to US$ 3 million at a 4% interest rate; Blue Grants Fund (BGF) offers grants to impactful, sustainable fisheries projects. Fisheries Development Fund - up to €500,000 at a 3% interest rate, maximum 12 years repayment.

Fiscal incentives: Import tax exemption includes Value Added Tax refunds on locally purchased goods for registered anglers and supporting activities, and customs duty is exempted on goods imported as capital equipment, bait, protective and safety equipment; accelerated depreciation rates (32).

Other incentives: Special Deductions on Taxable Income on Marketing and Promotion, a deduction of the expenditure incurred for marketing and promotion to 5% of the taxable income or the actual expenditure incurred, whichever is lower (32).

The Fisheries Act of 2014: provides the legal framework for the management of environmentally responsible aquaculture and sea-ranching in the exclusive economic zone (EEZ) following international norms, standards and best practices and an ecosystem approach to fisheries (24).

Fisheries Regulations (Amended), 1987: concerns authorization of fisheries and fisheries management and conservation measures in Seychelles waters. Part IV makes provision for fisheries management, the use of gear, protected areas, bycatch, and aquaculture concession (25).

Seychelles Fishing Authority Establishment Act, 1984: to establish the Seychelles Fishing Authority and specify its functions and powers; and for connected purposes, allows the Authority to promote, organize and develop fishing, fishing industry and fishing resources in Seychelles (26).

Environment Protection Act, 2016: Serves to ensure that all development and activities, including fisheries, are subject to environmental controls and provides for the protection, improvement and preservation of the environment to facilitate the implementation of international commitments (27).

S.I. 76. - Seychelles Investment (Economic Activities) Regulations, 2022: lists research and experimental development services on agriculture science for fisheries as an activity a non-Seychellois may invest in with the requirement to conduct an Economic Needs Test (ENT) (37).

Ocean Basket, RassFish, Oceana Fisheries, FishTech, Indian Ocean Tuna Ltd.

Ministry of Fisheries and Blue Economy, Seychelles Investment Board, Fish Inspection and Quality Control Unit.

African Development Bank (AfDB), UNDP, Common Market for Eastern & Southern Africa (COMESA), European Union (EU), FAO, International Fund for Agriculture Development (IFAD), Global Environmental Facility (GEF), International Atomic Energy Agency (IAEA).

Seychelles Fishing Boat Owners Association, Fisheries Transparency Initiative.