European businesses are exploring opportunities at Lagos Free Zone as their investment destination in Nigeria. This was disclosed by the President, European Business Chambers (EuroCham), Mr. Adefolu Majekodunmi during a visit by a high-powered delegation to the zone recenhtly. EuroCham is the organization that represents the interests of leading European companies operating in Nigeria.
The delegation comprised c-suite executives from some of the top European companies in Nigeria. They expressed their delight with the real progress made by Lagos Free Zone on ground, its plans for infrastructure and the focus on enhancing the ease of doing business for its investors, which they said is a major attraction for Europeans organizations.
Majekodunmi explained that the purpose of the visit to the Lagos Free Zone was to explore the opportunities for European companies to simplify their investments and operations in Nigeria.
“My expectation moving forward is that we would see several of our organizations that visited today setting up their facilities within the Lagos Free Zone. We do know that many of them have already shown interest in doing this and I think the experience from today has solidified their decision and thought process to make the move to set up a base in the Lagos Free Zone. It has been a very worthwhile experience for EuroCham and its members,” he said.
Delivering his remarks to the delegation during the visit, the Chief Executive Officer, Lagos Free Zone (LFZ), Mr Dinesh Rathi described the zone as the next frontier and the best investment destination not only in Nigeria but also in the entire West African sub-region.
Rathi disclosed that phase one of the Lagos Free Zone, which covers about 45 per cent of the 830 hectares area, will be completed by the year 2022. He declared that the completion of phase one of the zone would be marked by the completion of the Lekki Deep Sea Port, scheduled to commence its operations next year.
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