The assistance of the Investment Support Programme for Least Developed Countries (ISP/LDCs) has led to a successful outcome in the investor-state arbitration involving The Gambia and a foreign investor concerning two offshore petroleum licenses.
After undergoing a series of transitions in recent years, The Gambia has emerged to find itself on a path towards democracy and political stability. With a growing and entrepreneurial population, its economic potential remains untapped with an underused agricultural sector, an overreliance on tourism and high debt.
In order to promote prosperity and solidify the country’s progress, it is critical to develop strong frameworks to stimulate international investment grounded in the rule of law and sustainable development.
IDLO has successfully completed a key component of its cooperation with The Gambia under the Investment Support Programme for Least Developed Countries (ISP/LDCs).
The private sector is of central importance for The Gambia, a Least Developed Country where the availability of private capital from foreign and domestic investors is critical to promote sustainable economic growth, increase employment and ensure better living conditions.
The Gambia’s transition to democracy has led to an increase in foreign investors wishing to undertake commercial and infrastructure projects in the country. While an opportunity to strengthen the country’s markets, The Gambia recognizes that foreign investment may easily turn into a potential liability if not properly managed and regulated. To address this concern, IDLO has been requested to provide State Counsels and relevant government actors with specialized knowledge in commercial and investment law to be able to provide effective legal advice on transactional matters.