Gambiaj.com – (BANJUL, The Gambia) — The Ministry of Trade presented the inaugural report on the Trans-Gambia Corridor study on Tuesday. This landmark initiative aims to develop the nation’s first Special Economic Zone (SEZ), setting the stage for a transformative shift in trade infrastructure and industrialization.

The full content of the feasibility study is yet to be made public. However, the SEZ initiative is designed to stimulate trade, attract foreign direct investment, and foster economic growth. By focusing on the Trans-Gambia Corridor, the project seeks to bolster The Gambia’s position in regional trade and enhance its competitiveness.

The Trade Minister, Honourable Baboucarr O. Joof, highlighted the potential of the SEZ to draw industries to the area, with a focus on fish and agro-food processing among other sectors. This development is poised to not only invigorate the local economy but also diversify the country’s export portfolio. Furthermore, the SEZ will offer training programs for local workers, thereby improving their skills and employability.

Honourable Joof stressed that this initiative is a cornerstone of President Barrow’s broader agenda to elevate The Gambia’s economic standing. With the President’s support, the Ministry of Trade is set to advance the recommendations of the study and initiate the first phases of this transformative project.

President Adama Barrow has endorsed the project, emphasizing the critical role of investment in the country’s industrialization strategy.

The establishment of the Special Economic Zone marks a pivotal moment in The Gambia’s journey towards sustainable economic development, promising to bring significant benefits to both the local workforce and the broader national economy.