Senegal has just entered a new phase in its history. By officially leaving the category of Least Developed Countries (LDCs), alongside Cambodia, our country is taking a major step, recognized by resolution 79/230 of the United Nations Economic and Social Council. This downgrading, adopted on December 19, 2024, is the result of collective efforts made to transform Senegal into a more robust and resilient economy. It recognizes the constant efforts made in the field of development and provides for a transitional period of five years, aimed at ensuring a smooth and successful transition.
However, this symbolic and strategic advance raises new challenges. This reclassification marks the end of specific privileges and support granted to LDCs, such as preferential access to international markets, concessional financing or enhanced technical assistance. In other words, Senegal must now integrate into the global economy without a net, by adopting a more competitive and proactive posture.
While this transition marks recognition of the progress made, it also implies increased responsibility. How can we fit this new reality into the ambitions of the Senegal 2050 Project?
How can we transform this status into a real opportunity to consolidate our development trajectory?
The first answer lies in bold economic diversification. Senegal must expand its productive bases, by strengthening its industrial capacities and creating added value locally. Industrialization, driven by modern infrastructure such as special economic zones, will be a central lever. By promoting our natural and agricultural resources using appropriate technologies, we will not only be able to stimulate exports, but also meet the needs of a growing local market.
This transformation also requires an improvement in overall competitiveness. Reducing production costs, through strengthened energy, logistics and digital infrastructures, must become a priority. But it will also be necessary to invest in people. Increasing the skills of young people, through training adapted to the needs of a modern economy, will be a determining factor in facing global competition.
Furthermore, this reclassification offers a unique opportunity to reposition Senegal on the international scene. With an enhanced image of political stability and economic growth, the country can attract more foreign direct investment. However, this requires an attractive regulatory environment, based on transparency, governance and innovation. The mobilization of talent and capital from the diaspora could also play a crucial role in this dynamic.
Finally, this transition requires Senegal to redefine its economic diplomacy. By taking advantage of regional mechanisms like Zlecaf, our country can negotiate advantageous agreements that will compensate for the loss of trade preferences.
-Regional integration must be seen not only as an economic imperative, but also as a strategic opportunity to build strong and competitive African value chains.
The exit of the Pma is therefore a blank page, an invitation to dream big and act with determination. Senegal, strong on its achievements and its long-term vision, must embrace this stage as an opportunity to renew its economic model. As part of Senegal 2050, this transition could become a powerful lever to achieve our objectives of sovereignty, justice and shared prosperity.
The stakes are immense, but they match our ambition. With coherent policies, enlightened leadership and collective mobilization, Senegal can transform this new reality into an exemplary success, for the present and for generations to come. This is my firm conviction.
By Babacar Sané BA
President of Citizen Alternatives
Coalition MIMI 2024
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