Joe, Thanks for that stimulating eye-opener for Jammeh. I have been singing this song for a while now and I will continue to sing it ....Gassa you can join the chorus again....Leadership guided with honesty and a strong ambition is what we need, not some harping ding who has no clue how his utterances will be digested by the masses including potential invetsors. KB, thanks for yours as always. There is a great potential to explore and make use of with the dynamics of the Gambian economy and the vigor of the private sector, which ought to be well structured, clearly demarcated from the public sector, and present in all the sectors of the economy. This can be made possible by enhancing the spirit of entrepreneurship prevailing in the country, which can in turn prompt the confidence of foreign investors. The private sector accounts for majority of the total capital formation in Gambia. The investment rate will have to be boosted with significant financial policies that will help to stimulate such growth in investment. A significant part of total investment should be lured into the financial and services sectors with the use of specific incentives, in line with the policy of diversification of the economy. Gambia can be an attractive investment haven for a number of reasons. Strategic location The successive colonization of Gambia had as root cause the strategic location of the country, which at that time served as main port on the way to the west. There is a lesson to be learnt from the history of slave trade in Gambia. The Banjul port stands poised as a bridge between West Africa and Europe and the Americas as well as other part of th e continent, given that many ships can rally Gambia on their way to other African countries. There is a great potential to establish Banjul as a busy port by way of entrepot trade. Political Stability With a parliamentary democracy, political stability can become one of our greatest resources in becoming an economic haven. With transparent and accountable leadership guided with respect for individual rights and safeguard of constitutional provisions, the right environment will exist to attract capital investment. With a leadership that understands the significance of political stability anything is possible. Suffice to say there is a lot of work to be done in this area. Potentially Sound and Diversified Economy Gambia can have a thriving economy, with annual rates of growth hovering between 4% and 6%. Per capita income is growing and there is a possibility of becoming a middle-income cou ntry. Liberal economic policies applied are in line with global economic liberalization and deregulation. The economic base is can be diversified with equal resources being devoted to agriculture, manufacturing and financial sectors. Right to Private Property The Constitution, I believe contains a clause guaranteeing the right to private property, which eliminates the threat of nationalization and thus provides an additional incentive for investors. Fiscal and Monetary Policies Government favors the autonomy of the Central Bank in the formulation and implementation of monetary policies. Restraint monetary and fiscal policies should be practiced with a view to stabilize the economy, and to boost the confidence of investors. Savings The government should formulate a policy to mobilize savings in order to reduce the resource gap, so that capital is no constraint for investment. Skilled labour With the current literacy growth rate, the country can offers a pool of educated labour, easily adaptable, and very receptive to on-the-job training. The University of Gambia and vocational training centers offer both academic and technical training, thus providing a potential for optimizing the development of human resources. Education should be made affordable for all. Investment Schemes The leadership need to devise various schemes to encourage investment. Enterprises being set up in the country can apply for various forms of certificates to benefit from different investment incentives, based on their business models. Certificates for Export Enterprises, Small and Medium Enterprise, Strategic Local Enterprise, Agricultural Development Certificate, Hotel Development Certificate, Hotel Management Services Certificate, Pioneer Financial Services Schemes can be issued to qualifying entrepreneurs. The legal system should incorporate a number of tax incentives for investment that differ depending on the sectors. These incentives may include income tax relieves, investment allowances and investment tax credits among others. (BambaLaye) Abdoulie A. Jallow ============================================== "Our lives begin to end the day we become silent about things that matter." -Martin Luther King Jr. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html To contact the List Management, please send an e-mail to: [log in to unmask] ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~