Enugu, Indonesia Trade Organisation partner over $30bn GDP growth

Bisola David
Bisola David
The Vice-Chancellor of Maduka University, Enugu State, Professor Charles Ogbulogo, has said Nigeria’s blue economy holds great potential for the country and can contribute $1.5tn to the global economy if properly harnessed.

The Enugu state administration has stated that it expects its collaboration with the Nigeria Indonesia Trade and Investment to result in a $30 billion economic boom over the course of eight years.

According to the statement, the vision is supported by a dedication to sustainable development, competitive sector growth, and inclusive economic growth.

The state issued a statement describing the administration’s economic transformation strategy as “comprehensive, focusing on boosting sector productivity, reforming key institutions, and implementing cross-cutting social sector programs.”

The relationship, which was revealed during a joint news conference, is planned to rediscover and leverage business prospects within the state, building a foundation for shared prosperity and international cooperation, according to a statement from the state.

The state government, which expects a long-term engagement with the Indonesian government, is optimistic about the collaboration that was announced on Tuesday.

According to the report, the cooperation is anticipated to promote everyone’s well-being, attract capital inflows, and promote the diversification of Indonesian businesses in Enugu.

The government sees this partnership as an engine for economic development that would strengthen ties between Nigeria and Indonesia.

The conference, which was sponsored by the Nigerian Indonesia Chamber of Commerce, had as its theme “Rediscovering Business Potential in Nigeria.”

It emphasized the importance of strategic collaborations in order to fully realise the tremendous opportunities present in the country.

Agriculture, industrialisation, energy, mineral resources, transportation, information and communication technology, and tourism are all included in Enugu State’s integrated sector-based approach.

The state is committed to utilizing its robust mineral industry, increasing agricultural production, encouraging industrial endeavors, and making investments in ICT and renewable energy infrastructure.

Additionally, it stated that the state actively encourages public-private partnerships and the creation of business-friendly environments because it recognizes the critical role private sector participation plays.

“Actions are being taken to improve governmental services, strengthen security, and streamline administrative procedures.

“Enugu State is investing in infrastructure to assist its economic growth plans and has built a one-stop shop for business registration.

Enugu State “is poised to emerge as a beacon of economic progress, setting new standards for development in the region and beyond” with an emphasis on inclusive growth, sector competitiveness, and sustainability.”

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