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President of Gambia and Hermes-Sojitz agrees upon attraction of foreign investments
In the end of January, Adam Barrow, the new President of the Republic of Gambia, met with the management of the Hermes-Sojitz International Direct Investment Fund in Dakar.
Issues relating to the economic development of Gambia and opportunities to attract investments to the country were discussed during the meeting. Following the results of the meeting, President Adam Barrow and the fund's representatives agreed to establish the Gambia Sovereign Wealth Fund that will be focused on creating conditions and arranging cooperation with international investors in order to attract foreign investments to the country.
Thanks for the democratic shift in Gambia promoted by the Resolution of the UN Security Council supporting elected President Adam Barrow, the African country makes its steps on the new path of the development. After a long stagnant period, Gambia is ready to discuss questions relating to interaction within economic cooperation with other countries.
Hermes-Sojitz Investment Fund, having a great experience in implementing the large-scale projects all over the world, including in Africa, initiated creation of the Working Group focused on attraction of foreign investments to the country in order to implement projects in the area of development, hotel business, food industry, as well as in the area of extraction and processing of biological and mineral resources.
According to Oleg Yantovski, Head of Hermes-Sojitz Representative Office in Russia, Gambia now takes the progressive path of political, economic and social development. This project will make it possible to create favorable conditions for the inflow of foreign investments to the country as well as will provide the impetus for integration of Africa into the world economy.
Hermes-Sojitz International Investment Fund is an alliance of Asian and European investors. The fund is focused on direct investments to projects on the territory of Asia, Africa, and Europe. Main fund's investment directions: field development, food industry and property development. Asset value under fund's management amounts to USD 42 bln.