Ogun Backs Chinese Firm on Free Trade Zone Devt

ogunGovernor Ibikunle Amosun of Ogun State

The Ogun State Government and the New South Group management of the Ogun Guangdong Free Trade Zone, Ibesa have reaffirmed their commitment to provide adequate security and develop needed infrastructure in the zone.

This was disclosed at the weekend by the new managers and operator of the zone, Guangdong New South Group, following a meeting with officials of the state government led by the Secretary to the State Government (SSG), Taiwo Adeoluwa.

A statement by the zone’s management said: “The New South Group is appreciative of the support from the Ogun State Government and federal government agencies to ensure a systematic and sustained growth and development of business in the zone. This support has in no small way contributed to the smooth operation of business enterprises in the zone”

The firm, which owns the controlling shares in the zone said with the encouragement from government, “we are already making efforts to attract more foreign investments to the zone, with two of them now in the process of registration, while about 10 new investors from China have begun moves to visit the zone.”

While expressing commitment to the infrastructural development of the zone, the Chairman of New South Group, Mr. Chen Yuejin, said: “We have designed our short term planning for the provision of infrastructure neglected by former managers, Zhongful for four years, by building a new main gate, new office building for our staff and resident government agencies, comfortable residence for our staff and resident government agencies, well equipped medical centre, leisure and entertainment centre, sports centre and others.

“We are also cooperating with the Ogun State government on the construction and expansion of the road connecting the zone to Lagos. We have also discussed with the state government and other relevant security agencies for strengthening the security within the zone to ensure all round safety of property and persons doing business in the sone”, he added.

While also thanking the Government of the Peoples Republic of China for providing them the necessary support to run their legitimate business interest in Nigeria, he said “the Chinese government, through a Diplomatic Note 1601, dated March 11, 2016, notified the Ogun State Government that the Guangdong New South Group (rather than Zhongfu International Investments) are the ones authorized to manage the Ogun Guangdong Free Trade Zone.”

Expressing belief in the ability of Guangdong New South Group to develop the zone to the envy of all, Adeoluwa said contrary to allegations of arbitrariness, abuse of power and unfriendliness to foreign investors, levelled by former operators of the zone, the Ogun State Government is indeed investor-friendly and happy to work with genuine investors, either from within Nigeria or from any part of the world.

“This, is evident in the number of industries, both local and international, that have since birthed in Ogun State within the last five years. That is why, today, Ogun State is the industrial hub of Nigeria, attracting the highest number of industries in the country,” he said.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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