Jul 14, 2010, 3:26 PM
She said the investment promotion and facilitation department takes seriously the facilitation of inward missions, either solicited (targeted), unsolicited (general) or existing investments, to ensure smooth start-up in operations or sustainability of existing investments.
GIEPA CEO was speaking recently during the joint session of the Public Accounts Committee and Public Enterprises Committee (PAC/PEC) of the National Assembly, while presenting the GIEPA 2013 annual report.
She said to that effect, the department played a crucial role in energy proposals.
The department played an active role in facilitating the proposed investment in the energy sector, she said, adding that over the years with no exception in 2013, numerous proposals were received and facilitated.
“As part of its mandate, GIEPA is uniquely positioned to bring together all stakeholders so as to assist investments get clarity on one of the most complex sectors being promoted,” said Mrs Jallow.
Consequently, she went on, engagements resulted in advance negotiations in 2013 “although there are still few but critical outstanding issues to conclude the negotiations amongst which includes, agreeable form of guarantees and fuel supply to reach an agreement to complete the negotiations on the PPA”.
According to Mrs Jallow, all the seven projects recorded target the domestic market as their primary market for finished products.
On the other hand, only 1 of the 4 light manufacturing projects expected to meet their raw material inputs from the domestic economy, she said, adding that the other 3 projects would source their main raw material inputs from foreign sources.