Event Report: "Business and Investment in Senegal – Opportunities from Sandiara Special Economic Zone to West Africa" Held / Mayor of Sandiara calls for Japanese companies to enter the market

In the honor of welcoming Dr. Serigne Gueye Diop, Mayor of Sandiara Special Economic Zone and Special Advisor to the President in the Republic of Senegal to Japan, UNIDO ITPO Tokyo held “Business and Investment in Senegal – Opportunities from Sandiara Special Economic Zone to West Africa” at the United Nations University (Shibuya, Tokyo) on November 22, 2022. The seminar was attended by 60 participants from Japanese companies considering their expansion of business into Senegal. With the aim of promoting investment from Japan to Senegal, the event included introductions of investment needs and current conditions in Senegal, as well as investment incentives in the Sandiara Special Economic Zone.

“As Japan and Senegal are celebrating the 60th anniversary of diplomatic relations, we are welcoming and supporting companies who wish to expand to Senegal.” said H.E. Mr. Gorgui Ciss, Ambassador of the Republic of Senegal, at his opening remarks. H.E. Mr. Osamu Izawa, Ambassador of Japan in Senegal, also sent a video message, saying, “The relationship between Japan and Africa has shifted from development cooperation to business partners, and Japanese companies are doing more business in Senegal. The Sandiara Special Economic Zone offers various incentives for companies entering in Senegal, we hope that this seminar will serve as an opening for Japanese companies to enter the Senegalese market.”  

In the keynote presentation, Dr. Serigne Gueye Diop introduced that the SEZ has various advantages such as its proximity to the airport, well-developed roads, consolidation of all administrative procedures in one place, reduced/exempted corporate tax rates, and free foreign currency transactions. He then shared his vision for the SEZ, saying, “By 2023, we want to make the SEZ an emerging and prosperous commune driven by a well-educated population with a high level of household income based on a dynamic and integrated industrial and agro-business development pole, a sustainable management of natural resources and inclusive territorial governance.”

The panel discussion was moderated by Mr. Aissatou Ndiaye, UNIDO ITPO Tokyo Africa Advisor in Senegal with four panelists. Dr. Serigne Gueye Diop stated at the discussion; “Senegalese economic policies are easy to understand, and the political situation is stable. Diplomatic relations with Japan have continued for 60 years, making it attractive for Japanese companies,” stressing that the clarity of the tax system and the country’s friendly relations are important for investments. Mr. Aliou Gning, Project Manager of the Economic Zone, added; “We will fully support Japanese companies in the establishment process and in their communication with government agencies.

Mr. Tatsuo Arai, who served as Ambassador of Japan in Senegal for three years until February 2022, additionally commented on recent trends in Senegal: “Senegal has great potential and a wide range of Japanese companies are interested in the country. Senegal is also willing to accept Japanese companies and is planning to establish a special economic zone and a dedicated contact point for Japanese companies”. Mr. Koichi Sato, CEO, TUMIQUI JAPON SASU (Sénégal), who established a company in the SEZ reflected on his own experience, saying, “We ran into various challenges, but through interaction with the mayor, the Japanese embassy, and the UNIDO advisor, we were able to find solutions.” He also stated that “Africa is now ready to accept Japanese companies, so I am hoping to see further expansion from Japan.”

During the networking session after the panel discussion, many participants exchanged business cards and asked questions with the panelists, building relationships for future business development in Senegal.

Summary

Date:	Tuesday, 22 November 2022
Time:	14:00 – 16:30
Venue:	Annex Hall (1F), United Nations University
Organizers:	UNIDO ITPO Tokyo, Embassy of the Republic of Senegal
Language:	English – Japanese (Simultaneous interpretation)

Programme

13:30	Registration
14:00	Opening remarks       Mr. Gelegen Ferda, Officer-in-Charge, UNIDO ITPO Tokyo       H.E. Mr. Gorgui Ciss, Ambassador of the Republic of Senegal
14:10	Video message      H.E. Mr. Osamu Izawa, Ambassador of Japan in Senegal
14:15	Video of Sandiara Special Economic Zone
14:20	Keynote Presentation *Please download the presentation slides from here      Dr. Serigne Gueye Diop, PhD Food Science      Minister, Special Advisor to the President of Senegal, Agro Industries      Mayor of Sandiara City, President of the Economic Zone
14:40	Panel / Q&A  Moderator: Ms. Aïssatou Ndiaye, UNIDO ITPO Tokyo Advisor in Senegal Panelists:       Dr. Serigne Gueye Diop, Mayor of Sandiara City, President of the Economic Zone      Mr. Aliou Gning, Project Manager of the Economic Zone       H.E. Mr. ARAI Tatsuo, Former Ambassador of Japan in Senegal      Mr. Koichi Sato, CEO, TUMIQUI JAPON SASU (Sénégal)
15:30	Networking
16:30	End