Published On: Thu, Mar 30th, 2017

Japan aims to expand business ties in Nigeria

Udoma-Udo-Udoma

Udoma-Udo-Udoma

ABUJA, (CAJ News) – NIGERIA is inviting Japanese companies to make the most of the business opportunities presented by the Special Economic Zones the West African country is establishing.
The zones will serve as manufacturing hubs and provide the necessary infrastructural facilities to support the country’s industrialisation drive.
Budget and National Planning Minister, Udoma Udo Udoma, told the Japanese Ambassador to Nigeria, Sadanobu Kusaoke, that the Federal Government will grant incentives to encourage investments in the priority sectors listed in the recently released Economic Recovery and Growth Plan.
Among these are agriculture and manufacturing that are earmarked to enhance the country’s diversification from oil.
The growth plan, Udoma explained, is driven by some fundamental principles, including a focus on tackling constraints to growth, leveraging the power of the private sector and allowing markets to function.
“We believe in using the markets to drive the engine of the economy and allowing markets to work,” said Udoma at the meeting in Abuja.
He said government is focused on transforming Nigeria from a consuming nation to one that produces.
“This requires working closely with development partners for necessary support, especially in the area of technology,” said Udoma.
Kusaoke disclosed a delegation of Japanese businessmen will be in Abuja early May to explore more areas of investments and partnerships.
The envoy disclosed Japanese companies’ interest in investing in new areas and expanding existing ones in Nigeria’s business sector.
CAJ News

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