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Strategy document on private sector growth validated

Apr 7, 2015, 11:05 AM | Article By: Abdoulie Nyockeh

The Gambia Investment and Export Promotion Agency (GIEPA) in collaboration with members of the private and public sectors in The Gambia, Wednesday validated a five-year private sector development strategy plan for 2015-2019.

Held at the Ocean Bay Hotel in Bakau Cape Point, the forum, organised by GIEPA, in collaboration with the Ministry of Trade, Industry, Regional Integration and Employment, was funded through the GGCP project.

The validated document entails the provision of an enabling environment which will enhance private sector growth and competitiveness.

While the goal is to enhance private sector growth and competitiveness that will contribute to successfully achieving the country’s medium-term objectives, the mission of the strategic plan is to develop and sustain an investment attractive environment in which private enterprise is sufficiently rewarded and protected.In her remarks at the opening ceremony, Naffie Barry, permanent secretary at the Ministry of Trade, said the Gambia government “plans to make maximum use of the private sector toward the realization of the series of government economic development blueprints.

PS Barry commended members of the private sector for their contribution to the economic development of the country, and reiterated the position of the Gambia government to make effective and efficient use of the private sector toward national development.

According to her, the government sees the private sector as an integral component of its development strategy, meant to harness the true economic potentials of the resources of the country.

Mrs Barry added that in its main development blueprint, the government had made “explicit assumptions” about the role of private sector, particularly business entities, which it continues to embrace as formidable partners in delivering national development aspirations such as employment and wealth creation, socio-economic advancement, innovation and skills transfer.

In her statement, the chairperson of the GIEPA board of directors, Fatou Sinyan Mergan, recalled that the Gambia government in support of the initiative by GIEPA and in consultation with the Ministry of Trade and the Gambia Chamber of Commerce and Industry, gave its blessing for the development of a five-year private sector strategic plan to be funded through the GGCP project.

Mrs Mergan thanked the GGCP for financing the consultancy exercise.

She said GIEPA in fulfillment of one of its core functions - policy advocacy – “will continue to play an active role in the promotion of consistent public private dialogue” in the call for investment climate reforms that would further improve the business environment.

In his closing remarks on the occasion, GCCI CEO Alieu Secka thanked all the participants for making the validation exercise a successful undertaking.

While also thanking and appreciating the GGCP for funding the consultancy, Mr Secka further challenged the participants to make good use of the document and share the knowledge gained from the validation exercise.

Emanic Consulting, a firm led by Dominic Mendy, drafted the five-year private sector strategic plan.