years a small economic planning unit has identified and examined a number of important developmental opportunities. The growth of private investment in the Solomons (particularly in timber, oil palps, and mining) holds promise for the future and even in the far less richly endowed Gilbert and Ellice Islands Colony progress is being made with the family planning programme, in coconut improvement, and in training of merchant seamen for overseas employment.
20. My last example is the Seychelles Islands and it illustrates particularly well how a large injection of development aid at the right time can bring dramatic change. In the past the economy of these islands has been almost entirely dependent on exports of copra and cinnamon, supplemented by capital and budgetary aid from the UK. But with the opening of the new international airport in mid-1971, the Seychelles will have the opportunity to generate, through the develop- ment of tourism a large new source of revenue. So that private investment can successfully develop a tourist industry, Government has to establish the economic, social and political conditions which are necessary to attract investors. In consequence we are financing the building of a new port at Victoria, the capital, and the provision of adequate public services such as electricity, water, sanitation and roads. In addition, funds are being devoted to the expansion of agriculture, education and housing so that all Seychellois may be enabled to participate actively in the development of their economy and to benefit directly from it. The cost of all this is high, some £6 million over three years. But the result is worthwhile. The
economy, once relatively stagnant, is now expanding, and the Islands now have a reasonable prospect of becoming economically viable within
the next decade.
8.
#
No comments yet.
Private notes are available after approval.