The Senegalese president asked South Korean companies to actively invest and take part in the large-scale development projects pushed forward by the West African country.

“We hope that Korean firms, which possess great advanced technologies, will actively partake in the energy development projects that Senegal is currently pursuing,” President Macky Sall said while delivering a speech to the Korean business community at a luncheon organized by the Korea Chamber of Commerce and Industry in Seoul on Friday.

Senegal has been pushing for an ambitious development plan ― the Plan Senegal Emergent ― which aims to carry out economic reforms and build new public transportation networks, industrial infrastructure, and energy facilities in partnership with private firms.

In a bid to establish a more favorable environment for foreign investors, the government has been working to improve the country’s business environment ― through measures such as expanding incentives, simplifying administrative processes and establishing new ways to ensure heightened transparency in all related business procedures.

“Unlike some African states, Senegal boasts a stable political environment, high education levels and an advanced social infrastructure,” said KCCI vice chairman Lee Dong-geun.

“We hope that Senegal’s young market can become an opportunity for Korea while the Korean economic development know-hows can become an opportunity for Senegal’s future development,” he said.

By Sohn Ji-young (jys@heraldcorp.com)