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. _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp ---------------------------------------------------------------------------- To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html You may also send subscription requests to [log in to unmask] if you have problems accessing the web interface and remember to write your full name and e-mail address. ----------------------------------------------------------------------------