Jafza International to develop Special Economic Zone in Senegal

Mr. Jamal Majid Bin Thaniah, Vice Chairman Dubai World, and Group CEO, Ports and Free Zone World, received the president on his arrival at the Jebel Ali Port.

Present at the reception was also Mrs. Salma Hareb, CEO Jafza and Economic Zones World and Mr. Mohammed Sharaf, CEO DP World as well as other Dubai World officials.

This is Mr. Wade's first official visit to the UAE following his recent reelection as President of the West African republic.

Welcoming the President to Jebel Ali, Mr. Bin Thaniah said: "Senegal is an important business partner for Dubai and the UAE, and we see tremendous potential for growth in the already existing warm and cordial relationship between the two nations.

"Jafza International's presence in Senegal will not only bind the two countries closer, but will also act as a catalyst in significantly increasing two-way trade between Dubai and Dakar."

Mr. Bin Thaniah, gave President Wade a detailed briefing on the past, present and future of Dubai World, especially its global ports and free zones operations.

The President of Senegal, Mr. Abdoulaye Wade, said: "Senegal is one of the fastest growing economies in the African continent. We admire Dubai's growth and vision in achieving an economic revolution in the region through sheer creativity and grit and are looking forward to developing further economic ties with the UAE."

Jafza International is currently discussing with the Government of Senegal the terms of the concession agreement on acquiring 10,000 hectares (100 million square meters) of land to set up an integrated Special Economic Zone 40km south of Dakar.

Mrs Salma Hareb, CEO, Jafza and Economic Zones World, said, "Jafza's vast experience and expertise will be deployed in full to make the Special Economic Zone in Senegal a success. Creating a genuinely investor-friendly business environment has become a prerequisite for the economic progress of any country in today's globalized world. We believe the Government of Senegal has moved in the right direction to empower regional business."

The SEZ will be adjacent to the new Dakar International Airport currently under construction. An MOU to this effect was signed with the Republic of Senegal in December 2006.

Chuck Heath, Managing Director, International Operations, Jafza International, said: "Senegal's strategic location opens a great window of opportunity for Jafza International to tap into the logistics markets of South America and Europe. The integrated Special Economic Zone near Dakar airport will be the first fully comprehensive economic zone ever developed by Jafza International. It will comprise of a free zone, an industrial zone, an office park and tourism and residential areas, in addition to an airport free zone.

"Jafza International has taken an 'organic' approach in the development of this project by integrating the local community in the master plan, and special care has been taken to ensure that villages within the economic zone are not disturbed."

The project will be developed in four phases. The initial development is expected to create approximately 30,000 jobs.

Jafza International in its 18-month association with the government of Senegal, has completed two feasibility studies, and has also played a central role in drafting one of the most comprehensive legal frameworks for economic zones in all of Africa.

It was passed into a law by the Senegalese parliament in February.

There has been a significant jump in free zone trade with Senegal in recent years, with imports to Dubai jumping by over 200 per cent in 2006 over 2005.

Free zone exports to Senegal increased from AED 14.765 million in 2005 to AED 18.630 million in 2006.

Direct imports from Senegal through non-free zone ports during 2006 were valued at AED 83.758 million, while goods worth AED 25.780 million were exported to the West African nation. Re-exports were valued at AED 232.175 million during 2006.