Senegal And UAE Trade Flourishes With New Dubai-Dakar Air Route

Dr. Serigne Gueye Diop, Minister of Industry and Commerce of the Republic of Senegal, has expressed the country's eagerness to attract UAE investments to its market. Speaking to the Emirates News Agency (WAM) during a trade mission organised by the Dubai Chamber of Commerce and Industry to Senegal, Dr. Diop highlighted the promising investment opportunities available for Emirati businessmen and business owners in Dubai.

Dr. Diop revealed that the ministry plans to implement eight industrial and commercial zones across eight projects, which will eventually expand to 14 zones, culminating in 46 industrial zones and agricultural centres. He emphasised the presence of major Emirati companies investing in Senegal, particularly DP World, which operates the Dakar Container Terminal.

DP World is set to invest in the first phase of a deep-water port in the Ndayane area, located 50 kilometres from Dakar. This project, with a sea depth of 18 metres and an estimated cost of about $1.1 billion, will be the largest development of its kind in West Africa. The agreement includes constructing and licensing the port and its special economic zone on an area of 1,200 hectares, aiming to position Senegal as an international logistics centre.

Enhanced Trade Relations

The development of the air route between Dubai and Dakar, operated by Emirates Airline with five weekly flights, has significantly strengthened trade relations between the two countries. This route facilitates the movement of businessmen and increases trade opportunities by improving connectivity.

Diverse Economic Sectors

The Senegalese economy primarily relies on agriculture, fishing, mining industries, and services. Additionally, oil and gas exploitation is set to commence later this year. The country boasts a modern road network, including toll roads and international-standard marine and air infrastructure. It also features railways with modern generation trains like the regional express train.

Legal Environment for Investors

Senegal has established an attractive legal environment for investors by revising its general tax law and investment law. These revisions provide tax incentives tailored to company needs. Special economic zones in Dakar and Thiès have been equipped to facilitate the expansion of both Senegalese and foreign companies.

Dr. Diop's statements underscore Senegal's commitment to fostering a conducive environment for foreign investments, particularly from the UAE, thereby enhancing trade exchanges and economic growth.

With inputs from WAM