SERVICES OFFERED BY GIPFZA
· Assistance in securing permissions, exemptions, authorization, licenses, land or any other requirements for establishing and operating a business enterprise Advise on the preparation of
project proposals
· Advise on the preparation of project proposals
· Assistance in the identification of partnerships, joint ventures and financing sources for viable investment projects
· Site visit services to potential investors
· After care services to support sustainability of businesses
· Administration of incentive packages
· Regulate the development of business parks
· Identification and preparation of sites for business park development
WHY INVEST IN THE GAMBIA
· A stable and peaceful country
· Easy and quick investment approval procedures
· Liberal and free market economy without any ownership restriction or foreign exchange controls
· Functional and efficient banking services with foreign currency denominated account facilities to ease international trade
· Free repatriation of capital and profits
· Efficient port, airport and telecommunications services
· Close proximity to EU and USA markets
· Attractive investment incentive packages for investors
· Adaptable and competitive labour force
· Intellectual property rights
· Regional Markets: traditional gateway to the Ecowas market of 250million people.
· African Growth and Opportunity Act (AGOA): exports from the Gambia qualify for preferential, duty free and quota free access to the U.S markets
· English speaking
· Friendly and hospitable people
· Constitutional guarantees and safeguards against nationalization and expropriation of investments
· Member of Multilateral Investment Guarantee Agency(MIGA)
· Member of International Centre for the Settlement of Investment Disputes(ICSID)
INVESTMENT OPPORTUNITIES AND INCENTIVES
The Gambia offers immense investment opportunities in all sectors of the economy. Investments in the following priority sectors could qualify for support:
· Agriculture
· Fisheries
· Energy
· Manufacturing
· Tourism, Information, Communication & Technology
· Skills Development
· Forestry
· River and Air Transport
· Other services(financial, off-shore, health&veterinary)
· Mineral exploration including oil and gas
The two sets of incentive packages administered by GIPFZA are:
1) THE SPECIAL INVESTMENT CERTIFICATE
2) THE FREE ZONES LICENCE
Holders of the Special Investment Certificate are entitled to the following incentives for a period of five years:
· Exemption from withholding tax on dividends
· Exemption from Customs Duties on the following items: approved capital equipment, appliances, furniture and fittings imported for the direct use of the project or business
· The approved quantities of semi-finished products, spare parts, raw materials and other supplies to be used in the production process
· Exemption from sales tax on the above mentioned imported goods
· Exemption from turnover tax
· Preferential treatment for the allocation of land for the site of the proposed investment
· A special and attractive scheme of accelerated depreciation
Holders of the Free Zones Licence are entitled to the following incentives:
· Exemption from the payment of import duty, excise duty and sales tax on goods produced within or imported into a zone, unless the goods are entered for consumption into the custom
territory.
· Exemption from import duty on capital equipment
· Exemption from corporate tax
· Exemption from withholding tax on dividends
· Exemption from the payment of municipal taxes
With regards to investment in the tourism sector, the following activities could qualify for incentive support:
· Eco-tourism: national heritage and others
· Up-country tourism: motels, tourist camps, sport fishing, river cruising
· Hotel development for a 4/5 star
Finally, in addition to the above, potential investors would also be interested in other aspects of the Gambian economy and way of life and this is adequately captured on our website
http://www.gipfza.gm. We kindly suggest that you link our website to yours for easy access of information.