Rédaction Africa Links 24 with Mr. Gaye TheVoice
Published on 2024-02-28 08:37:01
The CEO of the Gambia’s investment promotion agency, Mr. Ousainou Senghore, recently addressed the Finance and Public Accounts Committee (FPAC) of the National Assembly about the challenges faced by the agency. One of the main issues highlighted by Mr. Senghore was the lack of available land for investors, which has been a significant hurdle for GIEPA.
During the discussion of the agency’s financial report, Mr. Senghore emphasized the importance of land provision for attracting investors. He mentioned that if a potential investor approaches GIEPA with plans to establish a factory, they often struggle to find suitable land to offer. This shortage of land has hindered the agency’s efforts to bring in new investments.
Mr. Senghore outlined the lengthy process involved in acquiring land for investors, which requires coordination with the relevant government ministry. He explained that it could take up to six months to a year to secure land for an investor, which often results in frustration and the potential loss of the investment opportunity.
To address this issue, Mr. Senghore mentioned that GIEPA is exploring the concept of land banking. By establishing a land bank, the agency aims to have pre-approved land parcels available for investors, streamlining the process and making it easier to provide land to potential investment projects.
In conclusion, Mr. Senghore highlighted the importance of having land readily available for investors, as it is a key factor in attracting and retaining investment opportunities. He stressed the need for efficient processes to make land provision more seamless and ensure that investors receive the support they need to establish their businesses successfully.
Overall, the issue of land availability for investors is a critical challenge that GIEPA is working to address through initiatives like land banking. By proactively tackling this issue, the agency aims to enhance its ability to attract and facilitate investment projects in the Gambia.
Read the original article on The Voice Gambia
