The duties of the country -state ecowas about investment promotion

Senegal has urged the Economic Community of State -Member States of West African Countries (ECOWAS) to increase steps that will promote and attract foreign investment to their respective countries.

Ms. Fama fell from the Directorate of Foreign Trade in Senegal, Investment and Development, making a call in a presentation at the meeting of the Ecowas Common Investment Market (ECIM) Technical Committee on Thursday in Abuja.

This event was held for member countries to evaluate the regional investment climate and share their knowledge about the promotion and efforts of cross-border investment.

It also aims to focus on interrogating policy decisions that will attract intra-extra-extra-extra-extra investment flows, triggering the integration and development of the subregional economy.

Fall, who first reviewed the Senegal Investment Climate and Policy Reform Over the past three years, highlighted investment promotion, facilitation, monitoring, dispute resolution, and bilateral agreement efforts.

Also read: President Ghana Urges Ecowas to Dialogue with Burkina Faso, Mali and Niger

He said that Senegal’s foreign direct investment reached $ 2.58 billion in 2022, and $ 2.64 billion in 2023, when the government deliberately imposed several steps to attract foreign investment.

According to him, the country’s strategic sectors include agriculture, information and communication technology, construction, health, tourism, and oil and gas, all of them have the potential to attract more investments.

He said: “France is the biggest investor in Senegal, but more and more, new investors come from other horizons.

“From China (peanuts, industrial products, public works, etc.), Turkey (Public Works), and the United Arab Emirates (especially for gold), not to mention countries such as Morocco, Indonesia, and the United States.

“Senegal currently has seven KEK that was officially created (special economic zone), three of them are operations and four are being developed.”

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