Industrialization strategies and model for Senegal

International Journal of Research and Innovation in Social Science (IJRISS) | Volume V, Issue XII, December 2021 | ISSN 2454–6186

Industrialization strategies and model for Senegal

Diadama Ismaila
PHD scholar of Industrial Economics, School of Economics, Jilin University, China

Abstract
After gaining independence, mainly in the 1960s, most African countries began to focus on promoting their industrialization. There was indeed a conviction among African leaders that industrialization was necessary to ensure self-sufficiency and reduce dependence on the advanced countries. Senegal also attempted at industrialization in the post-independence years but has had mixed results due to the absence of a clear policy attributable in particular to insufficient knowledge of its industrial sector. The purpose of this study is to propose strategies and an alternative model that could enable Senegal to develop its industry, based on some Asian latecomer’s example, findings, industrial main obstacles and recommendations analyzed in the previous parts. It should be made right clear that there is no single best-emerging market model. In the course of development, each country follows its path based on its human, economic, and natural resources. However, whatever way it takes, most of the emerging market has put industry at the heart of its economy structural transformation.

Key Words: Senegal, Industrialization, strategy, FDI, catch-up model

Introduction

Since the Industrial Revolution, which was inspired by the advancement of technology, industrialization has been the engine of production and job creation. There is a general view that industrialization is the first economic necessity in the economic development of any country. Since 1870, entirely historic instances of achievement in financial growth and holding have managed to accumulate wealth and grow by investing in their sectors Szirmai, (2012).Industrialization is also widely regarded as a viable option for Africa’s economic development. However, it is clear that Africa has missed out on the first appointment by leaving the industry to export raw materials to its natural state. In the case of Senegal, various techniques have been useful to refresh the Senegalese manufacturing part but have mixed effects due to the combination of materials, internally and externally. The Senegalese industry has suffered in recent years due to a lack of clear policy due to a lack of industry knowledge, its flexibility, and the emergence of industry trends around the world.
The findings in the above articles reveal that although the contribution of the industrial sector has decreased finished the years due to important industrialization challenges and government negligence, mechanization has had a positive impact on GDP in Senegal. And they emphasized the key elements of industrial growth. Therefore, it is recommended that in the long term there is a need for the revitalization of key industries in the country (e.g. textile industries, peanuts, and metals) and the allocation and management of existing sectors to ensure that existing sectors are adequate and suitable communication in the economy.

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