Nigeria wants Indonesia to invest

Nigeria wants Indonesia to invest
Market in Lagos, Nigeria

Nigeria has expressed interest in Indonesian companies’ investment and expertise to develop the African country’s industrial parks with a focus on developing small and medium business groupings into clusters.

The Small and Medium Enterprises Development Agency of Nigeria, or SMEDAN, said it wants Indonesian investors to give assistance in the conversion of Industrial Parks to Cluster Parks and in the revamping and development of existing Industrial Development Centres across the country. SMEDAN’s director-general, Muhammad Nadada Umar, said that in spite of all odds, Nigeria remains a safe place and commands enormous potentials for foreign direct investment.

“The returns on investment in Nigeria are mouth-watering and, therefore, irresistible. We also have friendly policies on investment and development of micro, small and medium enterprises. We urge Indonesia to join numerous investors from Asia, Europe and America to contest for a portion of the huge Nigerian investment market”, he added.

A memorandum of understanding (MoU) has been signed between SMEDAN and the Directorate-General of Small and Medium Industries (SMI) of the Ministry of Industry of Indonesia on February 9.

Indonesia would invest in Nigeria’s textile manufacturing sector to locally produce the popular fabric called Batik, which is in high demand in Nigeria. Both countries are also studying to collaborate in cassava production.

The Director-General of SMI of Indonesia, Euis Saedah, said that the signing of the MoU became necessary because cooperation in small and medium enterprises development would increase the rate of job creation in both countries. She affirmed that the MoU was signed to promote exchange of information, experience and technology.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

[caption id="attachment_7045" align="alignleft" width="300"] Market in Lagos, Nigeria[/caption] Nigeria has expressed interest in Indonesian companies' investment and expertise to develop the African country's industrial parks with a focus on developing small and medium business groupings into clusters. The Small and Medium Enterprises Development Agency of Nigeria, or SMEDAN, said it wants Indonesian investors to give assistance in the conversion of Industrial Parks to Cluster Parks and in the revamping and development of existing Industrial Development Centres across the country. SMEDAN's director-general, Muhammad Nadada Umar, said that in spite of all odds, Nigeria remains a safe place and commands enormous potentials...

Nigeria wants Indonesia to invest
Market in Lagos, Nigeria

Nigeria has expressed interest in Indonesian companies’ investment and expertise to develop the African country’s industrial parks with a focus on developing small and medium business groupings into clusters.

The Small and Medium Enterprises Development Agency of Nigeria, or SMEDAN, said it wants Indonesian investors to give assistance in the conversion of Industrial Parks to Cluster Parks and in the revamping and development of existing Industrial Development Centres across the country. SMEDAN’s director-general, Muhammad Nadada Umar, said that in spite of all odds, Nigeria remains a safe place and commands enormous potentials for foreign direct investment.

“The returns on investment in Nigeria are mouth-watering and, therefore, irresistible. We also have friendly policies on investment and development of micro, small and medium enterprises. We urge Indonesia to join numerous investors from Asia, Europe and America to contest for a portion of the huge Nigerian investment market”, he added.

A memorandum of understanding (MoU) has been signed between SMEDAN and the Directorate-General of Small and Medium Industries (SMI) of the Ministry of Industry of Indonesia on February 9.

Indonesia would invest in Nigeria’s textile manufacturing sector to locally produce the popular fabric called Batik, which is in high demand in Nigeria. Both countries are also studying to collaborate in cassava production.

The Director-General of SMI of Indonesia, Euis Saedah, said that the signing of the MoU became necessary because cooperation in small and medium enterprises development would increase the rate of job creation in both countries. She affirmed that the MoU was signed to promote exchange of information, experience and technology.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply