Gambia Investment Policy 2018

OBJECTIVE

To direct investments to the productive sectors in a manner that raises production and exports as well as expands trade for the increased welfare of all residents.

CONTENT

The Specific Objectives and Key Policy Interventions are as follows: 

1. Promote industrialization and value addition of critical products like cashew, groundnuts and fisheries by directing investments in these areas;
2. Expand the export potentials of this country through diversification of production and extending market access for these products;
3. Encourage the development of MSMEs, job creation and transfer of knowledge to enhance productive capacities;
4. Increase Foreign Direct Investment (FDI) and target investments to be more impactful and beneficial to Gambians based on the NDP and the SDGs priorities; 82 Ministry of Trade Industry and Employment
5. Develop complementary infrastructure requirements (electricity, roads, bridges, sea and airport to support business growth); and
6. Rebrand the image of The Gambia with specific investment promotion activities and target certain value chain types of investments.

To achieve the investment objectives mentioned above, the key related interventions are presented below:

1. Strengthen labour administration through review and implementation of the Labour Act and the Trade Union Act and regulations.
2. The government in partnership with the private sector and trade unions will pursue strategies to revise the 2007 National Labour Act and an updated Employment Policy.
3. Diversify local production by introducing high-value products such as findi, moringa, sesame, honey, cashew and horticulture for both export and the domestic market.
4. Multi‐sector strategies will be adopted to ensure that producers of goods and services are linked to market outlets in an effective manner and at the least cost of doing business.
5. Improve road infrastructure network including feeder roads linking production areas and markets and drastically reduce the number of checkpoints and revitalize the river transportation system.
6. Improve Air Transportation to aid horticultural export and in support of the free zones initiative which has light manufacturing facilities, as well as cargo storage and handling facilities at the Banjul International Airport.
7. Capacity building for producers engaged in the export of products in quality and standards.
8. The coordination of smallholder farmers for commercialization should be strengthened.
9. Government will upgrade to ASYCUDA world expand its coverage to all the major customs posts and strengthen economic relations with neighbours to improve compliance with the ECOWAS principles.
10. Government will invest in the necessary ICT infrastructure to streamline customs & trade documentation procedures with the objective of achieving in the medium to long term a single-window custom clearance system.
11. Government will build the capacity of its Permanent Mission in Geneva on Trade and Investment negotiations to effectively and actively participate in bilateral, regional, and multilateral trade and investment negotiations.