|The government has created particular priorities
for the following economic sectors considered having value-added
contribution, foreign exchange income & employment expansion
potentials for Gambia:
Projects in the above business sectors & sub-sectors are accorded
incentives in the form of duty waivers on capital equipment, materials,
spare parts and raw and / or semi-finished material inputs factors.
Other incentives include preferential distribution of land to
the development scheme, on-job training and technical help, and
identification of market opportunities for projects in the export
sector. Investments in maritime shipping and air cargo services
to enhance exports, are also considered for the award of investment
Opportunities are available in all economic sectors especially
in fishing, tourism,
manufacturing, and horticultural
This sub-sector is a major economic activity in the Gambia due
to its large export market opportunities favouring its production
in the country. Plots can be obtained from traditional customary
land owners through local government councils.
The expansion in cold storage and dry cargo facilities at Banjul
Airport compared with the demand in the export markets gives
an extra advantage to exporters.
There are considerable investment
opportunities in the sub-sector and the concept of centralised
marketing that would ensure maximising earning capacities of women
and other small-scale growers, would be considered favourably.
There are several large farm stakeholders with significant interests
in equipment and boreholes, looking for joint ventures partnerships.
Agricultural Processing Industries:
There is little major investments in this area; however, given
the size of yearly imports of goods such as fruit juice, chicken
feed, roasted confectionery nuts and dairy products, the
sub-sector offers significant investment opportunities. There
is a need for establishing a fruit juice processing industry to
cater for the surplus on exports of fresh tomatoes, mangoes, lemons,
oranges and other fruits. The production
of tomato paste, hot pepper sauce and processing of flour
from wheat will should significantly reduce the Gambia's annual
import requirements. In the same vein, creating a feed mill should
complement the livestock sector.
These food commodities have greater export potential to the West
African sub-region as well as satisfying local demand caused by
the growth of the country's tourism sector.
There are a number of enterprizes in this sector looking for joint
ventures and / or financing for expansion and modernisation of
their plant to meet rapid increases in demand for Gambian fish
products in the export markets. Potential investors in the fisheries
sector are accorded development incentives and also assisted by
identifying export markets. There are only several businesses
with processing facilities of which only a couple are operating.
Livestock production accounts for about 6% of the GDP at current
market prices (1991/92 preliminary estimates). The sector's activities
are limited to rearing of cattle, pigs, small ruminants and poultry
for the domestic market. In the absence of organised livestock
ranching to cater for the demand for beef and milk products in
the domestic market as well as our growing tourism industry, the
sector offers opportunities for further investment. Similarly,
enterprizes engaged in chicken production are limited by the high
cost of imported feed stuffs, resulting in unsatisfactory supply
delivery to hotels and the local consumer market.
Manufacturing activities are limited to small and medium-sized
enterprizes producing mainly for the local domestic market. There
are large deposits of Kaolin discovered in one of the provinces
in the Upper River Region (URR), Titaniferous beach sands, and
salt which are currently unexploited. The demand for sanitary
fittings and quality ceramic tiles are at the moment met through
local imports. Investment in a foundry that uses scrap metals
for the production of finished-iron and metal plates required
in the construction industry and small-scale repair workshops,
offers good opportunities. Similarly, light pharmaceutical industry
and engineering for manufacturing
and assembling of mechanical & and components for domestic
appliances and repair shops, are considered to be potential areas
Because of The Gambia's strategic location and competitive price
costings, the manufacturing sector in the enjoys export opportunities
to the sub-regional markets.
The Tourism Sector continues to play a significant role in the
Gambia's economic development process. The sector provides employment
opportunities as well as enhances foreign exchange earnings for
the country. The number of visitors to the country in 1991/92
was estimated at 109,164 of which air chartered visitors accounted
for 60% of the total. The estimated average daily expenditure
for tourist for the period under review, was D300 and gross earnings
was estimated at D432.00 million. The number of hotel beds was
5,070 for 22 hotels operating during the same period of time.
The government is committed to a
planned development and expansion of the vacation sector to include
cultural and ecotourism in order to maximise the benefits from
tourism. In this regard, the growth of infrastructures to designated
tourism development areas including natural
forest parks, monuments of cultural significance, land marks,
are considered under the sector's development strategy.
There are number of hotel development projects seeking for joint
venture and/or financing including, construction of 5 Star hotels,
restaurants and bars, and
recreation activities. However, the immediate investment priority
for the sector is in tour operations targeting the Middle-East,
United States and the EU. Investments in airline
operations linking the Gambia and the targeted destinations have
greater potentials and will give sustenance to the growth and
development of the tourism industry.
development of capital markets and growth of financial middlemen
to expand and facilitate access to credit by investors in the
productive sectors of the economy will enhance the production
capacity of these enterprizes with the multiplier effects on the
growth of the Gambian economy.
opportunities are available in sea and air transport services
which link the Gambia and the sub-region to promote trade
as well as allow supply sources of raw material inputs for the
services industry. Also investment in the river transportation
industry which links, Banjul and the up-country areas will
ease the flow of goods and persons to the urban towns and cities.
See also Broadcasting