Tuesday, May 29, 2012
It is indeed good to hear that The Gambia has inked a petroleum exploration deal with the United States-based Camac Energy Limited, a petroleum company. What is a cause for celebration is the revelation by President Jammeh that the deal is mutually benefiting. The development indeed shows that the leadership is ever committed to the exploitation of our natural resources for our common good.
We all know that economic development is a programme, a group of policies, or activities that seek to improve the economic well-being and quality of life of a community and its citizens. Ideally, it will create and retain jobs that facilitate growth and provide a stable tax base critical for a growing, progressive nation.
Economic development doesn't just happen. It requires long-term partnerships and strategies. If the deal is implemented, ithas the potential to quickly bridge the unemployment gap .
It would enable every Gambian to earn a standard income that commensurate with quality livelihood. The multiplier effect of this can simply be regarded as a victory for our collective battle against poverty. It is now clear that the leadership’s vision of such development undertakings is why government wasted no time in promoting tremendous economic growth. Already, The Gambia has succeeded in competing in a global marketplace.
We know that Camac Energy Limited would find The Gambia a favourable place to invest. Over the years there has been an unprecedented transformation in the country, infrastructure wise. With the right infrastructure in place, investors are motivated to seek for more investment opportunities in the country, and bring about the smooth movement of goods and services for economic growth.
What is even more important is that it is evident that our economy is becoming a home for progress. The peace and stability that the country enjoys is also attracting more and more investors. There is therefore no doubt that Camac Energy Limited would find this country an enterprising and safe haven for their exploration ambitions. We once again welcome genuine investors to The Gambia.
Author: Daily Observer