FG set Special Economic Zone for textile industry
The Federal Government and Private Sector will collaborate in creating Special Economic Zones, starting first with the Textile and Garment industry in the hope of spurring the nation’s economic development, according to Vice President Yemi Osinbajo, has said.
Speaking yesterday at an interaction with selected investors in Davos, at the ongoing World Economic Forum, the Vice President noted that “having the right mind-set and understanding where we want to go will affect the implementation process whilst ensuring things get done in the nation’s business environment.
He stressed that the collaboration between private sector and the government ensures consistency in the implementation of economic policies.
The Vice President added that one of the reasons he was optimistic about the forthcoming Special Economic Zone SEZ for garment manufacturing was because “it is specific and is something we can measure very quickly; working with investors and allowing them to tell us what they want to achieve. This will help us attain set objectives.”
Furthermore, Prof Osinbajo stated that having labs, where issues around effective implementation plans would be intensely discussed with expert participants drawn from the private sector and public sector, will also help ensure “that we achieve our objectives as those labs will set up the implementation agenda and see it through to the end”. #
Both the Minister of Budget and National Planning, Senator Udoma Udo Udoma, and Minister for Industry, Trade & Investment, Dr. Okey Enelamah were also at the interaction.
Speaking earlier, Senator Udoma disclosed that there were many advantages for Nigeria to create the SEZ for Textile manufacturing, citing the use of English as our official language, our political stable environment and the provision of an enabling environment for the private sector.
He went further to say that confidence was being restored in the hearts of people regarding economic policies.