President Park Geun-hye and Senegalese President Macky Sall held summit talks at Cheong Wa Dae on June 4.
The two leaders agreed to encourage Korean companies to participate in the Senegal Emergent Plan (PSE), a comprehensive national development project worth USD 10.1 billion. The PSE is a mid- to long-term economic and social development plan established by President Sall in 2013. The Senegalese investment authority has selected 26 core projects in the areas of transportation infrastructure, energy, housing, education, farming and tourism, and is now pursuing them as public private partnership (PPP) projects.
Senegal asked Korean companies to take part in the second maritime infrastructure project worth USD 88 million, in addition to the first maritime project valued at USD 48.8 million. The Korean government supported the first project through its Economic Development Cooperation Fund (EDCF).
The two sides signed memoranda of understanding (MOUs) agreeing to share information about and cooperate on maritime and fisheries businesses. They also signed MOUs covering an expansion of Korean companies' participation in Senegal's projects to bring in investment, and on educating and training entrepreneurs in promising areas, including textiles, apparel and processing agricultural goods.
The two countries also signed MOUs to cooperate on trade, industry and investment. Under the MOUs, Korea agreed to transfer idle manufacturing facilities and technology to Senegal and to share Korea's experiences in developing free economic zones and nurturing small- and medium-sized enterprises. They also agreed to cooperate on developing renewable energy and mineral resources, as well as other energy and natural resources, and to send trade missions to each nation.
Finally, Korea agreed to help improve Senegal's agricultural productivity and to take part in the effort to develop plant species. Korea also agreed to share its experience with the New Village Movement, or Saemaul Undong, a series of rural development policies from the 1970s and 1980s.
By Wi Tack-whan, Limb Jae-un
Korea.net Staff Writers
Photos: Cheong Wa Dae
whan23@korea.kr
The two leaders agreed to encourage Korean companies to participate in the Senegal Emergent Plan (PSE), a comprehensive national development project worth USD 10.1 billion. The PSE is a mid- to long-term economic and social development plan established by President Sall in 2013. The Senegalese investment authority has selected 26 core projects in the areas of transportation infrastructure, energy, housing, education, farming and tourism, and is now pursuing them as public private partnership (PPP) projects.
President Park Geun-hye (right) and Senegalese President Macky Sall hold summit talks at Cheong Wa Dae on June 4 and agree to encourage Korean companies to participate in the Senegal Emergent Plan projects worth some USD 10 billion.
Senegal asked Korean companies to take part in the second maritime infrastructure project worth USD 88 million, in addition to the first maritime project valued at USD 48.8 million. The Korean government supported the first project through its Economic Development Cooperation Fund (EDCF).
After the summit, ministers of the two nations sign MOUs covering cooperation on maritime and fisheries companies, trade, industry and investment.
The two sides signed memoranda of understanding (MOUs) agreeing to share information about and cooperate on maritime and fisheries businesses. They also signed MOUs covering an expansion of Korean companies' participation in Senegal's projects to bring in investment, and on educating and training entrepreneurs in promising areas, including textiles, apparel and processing agricultural goods.
The two countries also signed MOUs to cooperate on trade, industry and investment. Under the MOUs, Korea agreed to transfer idle manufacturing facilities and technology to Senegal and to share Korea's experiences in developing free economic zones and nurturing small- and medium-sized enterprises. They also agreed to cooperate on developing renewable energy and mineral resources, as well as other energy and natural resources, and to send trade missions to each nation.
Finally, Korea agreed to help improve Senegal's agricultural productivity and to take part in the effort to develop plant species. Korea also agreed to share its experience with the New Village Movement, or Saemaul Undong, a series of rural development policies from the 1970s and 1980s.
By Wi Tack-whan, Limb Jae-un
Korea.net Staff Writers
Photos: Cheong Wa Dae
whan23@korea.kr
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