GAMBIA INVESTMENT PROMOTION AND FREE ZONES AGENCY (GIPFZA)- The “one stop
shop” for all investment matters in The Gambia .
The Gambia Investment Promotion and Free Zones Agency (GIPFZA) has, as a
general; objective, the promotion and co-ordination of investment in The
Gambia with a view to maximising the value added activities in the country,
thus creating employment and positively contributing to the other
macro-economic objectives of the government.
Specifically, GIPFZA offers the following services to the investors:
- Providing information about investment opportunities and the incentive
package for investors.
- Supporting and guiding investors in their registration and establishment
procedures.
- Administering the package of incentives that have been approved by
government.
- Administering and managing the operation of Economic Free Zones.
- Assisting investors in securing permission, exemption, authorization,
license, land or any other thing required for establishing and operating a
business enterprise.
- Advising investors on the preparation of project proposals.
- Assisting investors in the identification of partnerships and joint
ventures.
- Providing care services to ensure sustainability of business.
PRIORITY INVESTMENT AREAS.
Although Gambia pursues a liberal and free market economy, the government
has identified a number of sectors as priority areas. These include the
following:
- Agriculture, Fisheries and Forestry.
- Tourism, Skills development, Communications and Services (Financial,
Offshore Banking, Health and veterinary services), River and Air
transportation and Information Technology.
- Manufacturing, Energy and Mineral Exploitation.
INVESTMENT ENVIRONMENT.
Although you may be aware of the general investment environment in our
country, we would like to remind you of the comparative advantage The Gambia
enjoys in some of the critical factors in any investment decision.
- Stability and peaceful country.
- Hassle free procedures for investment approval process.
- Efficient Port and Airport services.
- Accessibility to decision makers.
- Liberal and free market economy without any ownership restrictions or
foreign exchange labour cost.
- Very attractive labour cost.
- Excellent Telecommunications facilities.
- Constitutional guarantee and safeguards against nationalization and
expropriation.
- Membership of the Multilateral Investment Guarantee Agency (MIGA) and the
Centre for the Settlement of Investment Disputes (ICSID): Guarantees to
foreign investors against losses caused by non-commercial risks and
settlement of investment disputes.
- Gateway to the vast sub-regional Economic Community of West African States
(ECOWAS) market.
- Proximity and preferential tariff access to the European market.
- English speaking (Government and formal business sectors).
- Soon to be available, nation-wide electricity supply.
- Very navigable river for the transportation of goods throughout the
country.
INCENTIVES.
In addition to the above, there is a special investment status that will
entitle investor to the following incentives for a period of five years:
(a) Exception from withholding tax and tax on dividends;
(b) Exception from customs duties for the following items:
- The approved capital equipment, machinery, appliances, furniture and
fittings imported and to be used by the project or business.
- The approved quantity of semi-finished products, spare parts, raw
materials and other supplies to be used in the production process.
(c) Exception from the sales tax on the items mentioned in paragraph (b).
(d) Exception from the turnover tax.
(e) Preferential treatment for the allocation of land for the site of the
proposed investment and the provision and the provision of infra-structural
facilities.
(f) Special and attractive scheme of accelerated depreciation as set out in
the Investment Promotion Act of the Gambia.
HOW TO PROCEED.
To find out how you can use the services of GIPFZA or how you may take
advantage of the excellent incentive package, please contact them at the
following address:
Gambia Invest Promotion and Free Zones Agency,
Duwa Jabbi Building,
P.O. Box 757,
Banjul,
The Gambia.
Tel: (220) 222412, or (220) 222836.
Fax: (220) 222829.
Email: [log in to unmask] or [log in to unmask]
Have a good day, Gassa.
_________________________________________________________________
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