“These companies are projected to invest a total of US$37.4 million, creating over 1,000 jobs. Most of these investments are concentrated in the manufacturing sector, and roughly half of them is led by domestic investors.”
The budget speech delivered by the Minister of Finance, Seedy Keita, also revealed that government, through the Ministry of Trade, is in the process of reviewing the GIEPA Act of 2015.
“The government acknowledges the challenges faced by investors in acquiring land for commercial activities, which is crucial for boosting economic productivity. To address this issue, a high-level technical committee is being formed to collaborate with regional governors and allocate land for commercial activities. These lands will be held by GIEPA under a head lease arrangement.” it noted.
It further revealed that The Gambia Competition and Consumer Protection Commission (GCCPC) has been diligently working to protect consumer rights and ensure fair competition.
“The Commission has successfully handled 88 consumer cases with a total value of GMD1,921,250; conducted market investigations into essential commodities; and has taken decisive actions against businesses found in violation of the Competition Act 2007.”
The Commission, the statement added, also initiated bi-weekly market surveillance of essential commodities to combat anti-competitive practices and carried out weekly inspections of expired products to safeguard consumers, in compliance with the Consumer Protection Act of 2014.
“In the realm of industrialisation, the Ministry of Trade is actively pursuing the construction of a Special Economic Zone (SEZ) along the Trans Gambia Bridge corridor. A feasibility study has been commissioned to assess the viability of this project, and efforts are underway to mobilise resources for the necessary infrastructure. Furthermore, the Ministry plans to establish three additional agropolis, to strategically focus on value chain crops along recognised trade corridors.” it further stated.
