By Fatou Krubally
The Gambia Investment and Export Promotion Agency (GIEPA) Amendment Bill, 2025 proposes raising the minimum investment threshold for newly established foreign investment enterprises seeking specified incentives to US$500,000.
The provision is contained in proposed amendments to the GIEPA Act, 2015, considered by the National Assembly, which completed consideration of the Bill on Monday.
Under the proposed amendment, a newly established foreign investment enterprise investing at least the equivalent of US$500,000 would qualify for incentives specified under the Act, subject to regulations.
The Bill also proposes changes to the definition of capital goods for purposes of investment incentives.
Under the proposed provision, capital goods would include goods intended for use in the production of other goods and services rather than for final consumption. It would also cover goods that have no multiple uses and can only be considered inputs in the production of goods and services.
The amendments further provide for exemptions from import duty on qualifying capital goods listed under the Act, in accordance with the Customs and Excise Act, 2010.
The Bill would also expand GIEPA’s functions to include facilitating cross-border trade for both imports and exports.
Another proposed amendment would provide for the inclusion of the President of the Gambia Chamber of Commerce and Industry on the GIEPA Governing Council.
The Bill also introduces a “Special Investment Certificate”, which would be issued following an application and allow beneficiaries to access certain investment incentives, including fiscal incentives, for a specified period.
According to the Objects and Reasons of the Bill, the proposed amendments seek to establish a modern and development-oriented investment framework capable of attracting, retaining and expanding responsible and sustainable investment in The Gambia.
The amendments also seek to align the country’s investment framework with national and regional priorities, including the African Continental Free Trade Area (AfCFTA) Investment Protocol and ECOWAS treaties.
The Bill further aims to strengthen institutional capacity and promote sustainable economic development through improved investment policies and incentives.