This paper draws on extensive national level consultations and data analysis to stimulate debate on strategies for repositioning the private sector to effectively contribute to the country’s economic diversification. It highlights the structure of the Seychelles’ economy with emphasis on the place of the private sector, assesses the trends of economic diversification, articulates the efficacy of the legal policy and institutional environment in facilitating private sector engagement, and proposes a mix of reforms to empower the private sector.