President Yahya Jammeh on Saturday laid the foundation stone for a 25-million Euro fertiliser and animal feed plant project at Sifoe village in the Kombo South District of Western Region.
The event was part of his ongoing 'Dialogue-with-the-People-Tour', and celebration of the 16th anniversary of the 22nd July Revolution.
Speaking on the occasion, President Jammeh said it is no secret that government's spending on fertiliser runs into millions of dalasis every year.
As such, the first potential impact of this multi-million euro plant is the huge savings in foreign exchange and in the budget that would accrue from having to disengage from importing fertiliser.
"The importation of fertiliser will soon become a thing of the past," he declared.
The Gambian leader noted that the plant would be providing direct employment opportunities for about 1600 Gambians and non-Gambians alike, who will be employed indirectly from the forward and backward linkages that would undoubtedly come about.
He called on Gambians, particularly the youths, not to sit idly and allow others to come from outside and overtake them or simply be in control.
He said: "If there is anything I hate about the youth, is their general inclination to idleness and believing that the greenest of pasture lies outside of your very country."
Noting that they owe so much to the nation, he challenged them to prove him wrong by taking on more positive attitudes in their love, respect and loyalty to the nation.
In the view of President Jammeh, the plant would also provide many individuals and families the much-needed income necessary to prevent them from falling victim to poverty and destitution.
He commended and thanked Mr. Volkov, a former Minister of Fisheries in Ukraine, for choosing The Gambia as a place to invest in. He also thanked Mr. Mam Sait Njie for his role in encouraging Mr. Volkov to come to The Gambia.
Mrs Jainaba Jallow spoke on behalf of her husband, Mam Sait Njie, the chairman of the Board of Directors of the projected fertiliser and animal feed plant.
She said the project was the result of a well-planned investment being undertaken by their joint partnership company in the name of U-G investment group, which is a Ukrainian-Gambian joint partnership.
According to her, there is an increase in investor's confidence in locating and doing business in The Gambia, adding that The Gambia no longer competes for investor attention; instead other countries in the sub region are now competing the Gambia for investor attention.