3 December 2013

Gambia: Rising Investment

editorial

It could be argued that the most direct impact of infrastructural development on the economy is the trickle-down effect. And arguably, investment is the most immediate economic good of a nation' s economy. In essence, all by itself, infrastructural development may not be immediately economical on the nation, but through some inherent factors, it breeds economic growth. One significant factor is investment.

Though empirical evidence on the existence of positive productivity externalities is sobering, there is a widespread belief among policy makers that investment in particular generates positive productivity effects for a nation.

Such an investment in the economy can occur through adoption of technology, which can happen via licensing agreements, imitation, competition for resources, employee training, knowledge export spillovers and above all political stability. However, the objective of investment cannot be met with the lack of proper infrastructure in place.

With the right infrastructure in place, investors are motivated to seek for more opportunities to invest in the country, and bring about the comfortable movement of goods and services for economic growth. It provides a conducive environment for industrial advancement. Infrastructure like adequate energy supply, perfect lighting system, and good roads among others, are a source of encouragement for any meaningful investment undertaking.

Today, The Gambia can boast of having such infrastructure in place for the modernization of our economy. The government of The Gambia has indeed taken a giant step towards building a viable investment zone for economic growth. Never before has the country witnessed such massive investment as we are witnessing today.

The high influx of businesses ranging from commercial banks to estate developers, light industries and a host of other trading groups shows that the country is on the road of development in the sub-region. What is even more important is that it is evident that our economy is becoming a home for progress. The peace and stability in the country is attracting more and more investors into the country. That peace and stability should be jealously guarded by all and sundry so that the country can continue to be on the path of growth and development.

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