Gambia woos Nigerian investors, offers tax-free incentives, unfettered access to land

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The government of The Gambia, one of Nigeria’s English speaking West African neighbours, has told visiting Nigerian investors that the country is free, good and open to business.
The country assured the investors of a number of incentives including free tax and VAT operations, unfettered access to land and 100 percent profit repatriation.

Isatou Touray, the vice president of the country, at a dinner to receive the Nigerian investors in Banjul, the Gambian capital, on Saturday, noted that in rebuilding the country after 22 years of dictatorship, they needed private capital to be injected into their economy.

Touray said the country looked up particularly to Nigeria as big brother in Africa and it’s investors to help in their economic block building efforts by investing in the country.

The vice president who represented the president, Adams Boro, whose election in January 2016 ended the many years of dictatorship in the country, pointed out that the country needed investment in critical sectors of its economy including agriculture, tourism, real estate, manufacturing, energy etc.

Earlier, Seedy Bittayean, an official of the the Gambian Import and Export Promotion Agency (GIEPA) had explained to BusinessDay in an interview that the country needed investors
In order to jumpstart their economy and also to reduce their exposure to imported items including foodstuff which, in some cases, according to him, was as high as 90 percent.

Bittaye, whose agency overseas import and export activities and investment inflow into the country, noted that the country needed investors most in agriculture in order to tap into the opportunities the vast arable land in the country offered and create jobs.

He disclosed that efforts were being made to reform land tenure system in the country not only to put an end to land grabbing which was … Read More...