First stop for investors is also responsible
for converting the nation into trade gateway
Since it was formed in 2001, the Gambia Investment
Promotion and Free Zones Agency (GIPFZA) has
lost no time in launching the country’s
ambitious Gateway Project. Indeed, it was the
first program to be implemented by the fledgling
body, handpicked for the superior business knowledge
of its staff. Aimed at positioning The Gambia
as a globally competitive export and processing
center, the Gateway Project is a key component
of the government’s strategy for achieving
broad-based, export-oriented and sustained growth.
The Gateway Project was designed to be implemented
in two five-year phases, the first of which
has just been completed. Phase one involved
putting the physical infrastructures in place
for an operational Free Zone at the airport
as well as the creation of GIPFZA itself to
oversee the Free Zone and promote trade and
investment activities. Later phases will include
technical assistance for the Gambia Divestiture
Agency, the financing of training for both the
private and public sector involved in investment
and Free Zone-related business (with briefings
on U.S. and European market access regulations),
project management, environmental studies and
mitigation measures.
“The Gateway Project is a development
program funded by the Government of The Gambia
and The World Bank. It has a 10-year lifespan.
We have just concluded the first five years,
and are looking forward to the second phase,”
says GIPFZA managing director Kebba Njie. “The
objective of the project is to establish The
Gambia as a competitive destination for foreign
and domestic investments. To achieve this, it
was necessary to improve the operating environment
and the investment climate with respect to the
legal framework, infrastructure, skills development,
and fiscal support for investment. That is what
we have been basically engaged in for the past
six or seven years since the agency was established.”
GIPFZA, whose elite management team was chosen
for their sharp business acumen, had the wisdom
to bring in International Development Ireland
Ltd., known globally for their investment promotion
and Free Zone activities, to aid in the start-up
of the project. For the first two years, the
Irish company sent consultants back and forth
to The Gambia, maintaining one permanent employee
in the country for the duration of that time.
This, says Njie, got the project off on the
right footing, and has “put us in a very
sound position.”
The new Free Zone, which occupies 160 hectares
near the airport in Banjul, is now fully operational.
Investors can literally set up business in a
day, according the Njie.
“Apart from the national grid, we have
installed a backup of 1.3 MW. The sewage and
treatment of waste is installed. We also have
a water backup system, in addition to the national
grid. We have developed 200,000 square meters
of shopping and office space. It’s built
and ready,” he adds. “We have also
just established our first tenant in the park.
They are in the garment industry. Initially,
they expect to create 200 jobs, which will eventually
move up to 500 jobs.”
