The forum, held on the theme – ‘Investing in The Gambia, Land of Opportunities’, also seeks to present investment opportunities, facilitate contact with public and private sector actors as well as international financial institutions.
It forms side events ahead of the 15th edition of the Organsation of Islamic Cooperation (OIC) Banjul Summit scheduled from 4th -5th May 2024.
However, the event held on the theme - ‘Invest Days’ attracted participants from The Gambia and beyond.
Welcoming the gathering, Ousainou Senghore, Chief Executive Officer of GIEPA, expressed delight to be associated with the 3rd ICDT Invest Days, ahead of the 15th OIC Banjul Heads of State and Government Summit taking place in the next forty-hour.
He said as delegates gathered amid multi-faceted challenges facing “our respective nations”, it highlights the enormous potentials and investment opportunities the Smiling Coast of The Gambia has to offer.
He spoke about the potential offers by the Smiling Coast of Africa, acknowledging that the country is rich in marine and inland products.
The Gambia’s vibrant tourism industry offers visitor to enjoy the country natural beauty, rich cultural heritage, pristine beaches and ecotourism spots, among a host of others.
For his part, Baboucarr Ousmaila Joof, the minister of Trade, Industry, Regional Integration and Employment, spoke about the unparallel investment opportunities that awaits genuine investors to the Gambia.
“At the forefront of The Gambia's economic agenda lies a steadfast government commitment to fostering an environment conducive to trade development. This cannot be achieved in the absence of investment in key productive sectors that generate goods and services. Recognising the pivotal role that private sector engagement plays in driving economic growth and job creation, our government has implemented a comprehensive policy and strategy framework aimed at facilitating investment, stimulating export growth, and nurturing a dynamic and resilient business ecosystem. My Ministry has a well-directed national investment, employment, and other relevant policies that will guide and protect your investments in The Gambia.”
Minister Joof reminded that central to the country’s investment promotion efforts is the unwavering commitment to provide investors with a conducive and investor-friendly environment.
Through targeted policy interventions and regulatory reforms, he added that they’ve streamlined bureaucratic processes, reduced red tape, and enhanced transparency to instill confidence and attract investment across diverse sectors in an emerging democratic society anchored on a capitalist economic model.
For her part, Latifa Elbou Abdelaoui, Director General of Islamic Centre for Trade and Development (ICDT), thanked the Gambian leader for taking the initiative to organise this investment forum alongside the Islamic Centre for Development of Trade.
Aware of the importance of promoting investment in member state of the OIC, she said, the ICDT took the initiative to jointly organise this Invest Days to boost the flow of intra-OIC investment by creating conditions for investment opportunities in the region.
The event, she added, will also enable participants to collaborate and discuss private-public investment flows among member states and even beyond.
“We are today at the 3rd edition of this forum after the one held in Dakar in 2022 and Nouakchott in 2023, choosing The Gambia for this third edition is not coincidental. It stems from great potential for development and growth that this country presents.”
She hailed The Gambia for its tranquility, stability and incredible beauty with its landscapes, saying the country’s history is marked by peaceful co-existence, a tradition of tolerance and unity that has contributed to its stability and made it a beacon of peace in the region.
In his keynote address, Muhammad B.S. Jallow, vice president of The Gambia, deputising for President Adama Barrow, described the event as 3rd of its kind and one of key sideline events of the 15th Banjul OIC Summit.
VP Jallow revealed that through the joint efforts of GIEPA over 400 participants have registered for the event, attracting over 60 international investors including investment promotion agencies, insurers, financial institutions and key private sector players in both the country and beyond.
He reminded that the GIEPA- ICDT Banjul Investment Forum hold immense significance as a platform for dialogue, collaboration and partnership building, adding that it also creates unique opportunities for investors, government officials and business leaders and development to come together an explore development opportunities, best practices and alliances.
In the face of the global challenges including the Covid-19 pandemic, Russia-Ukraine, Israel-Hamas conflicts, among global political atmospheres, strategic economic recovery, investment and strong programmes have become imperative.
This forum, he added, therefore offers a timely opportunity to regulate on our collective strength and resource to drive inclusive growth and create employment.
However, the event also witness signing of Memorandum of Understanding (MOU) between GIEPA and ICDT as well as relevant stakeholders with other international agencies and institutions.
The event was graced by cabinet ministers, senior government officials, international investors, business leaders both local and international, among a cross section of the community.
