The Nigeria Export Processing Zone Authority (NEPZA) has announced its partnership with the South East Business and Investment Summit (SEBIS) Group to host the forthcoming South East Business and Investment Summit in Enugu this December.
The announcement was made by Sir Innocent O. Uzoechi, Director of Investment Promotion & Investor Services at NEPZA, during a courtesy visit from SEBIS led by Executive Secretary Dr. Ifedi Okwenna.
Sir Uzoechi, representing NEPZA’s Managing Director and Chief Executive, Dr. Olufemi Ogunyemi, commended SEBIS for its initiative. He highlighted that the South East region of Nigeria has underutilized the investment opportunities provided by NEPZA and expressed concern over the high percentage of dormant free zones, predominantly government-sponsored.
Uzoechi emphasized NEPZA’s eagerness to collaborate with both private and public-private sector initiatives. He requested NEPZA’s inclusion in organizing the Summit and proposed that the Authority present on the state and impact of free zones on Nigeria’s economic development, as well as participate in the event’s business and technical sessions. NEPZA has pledged full support to SEBIS to achieve the summit’s objectives.
Dr. Ifedi Okwenna, Executive Secretary of SEBIS, outlined the purpose of the summit scheduled for December 11-13, 2024. SEBIS aims to serve as an annual forum for government officials, investors, and business leaders to boost business and investment in the South East region. The event is expected to attract over 1,000 participants, including global investors and industry leaders, to enhance investment, foreign direct investment (FDI) inflows, and capital repatriation into the South East.
A key goal of the summit, according to Dr. Okwenna, is to establish a South East Investment Fund and secure over USD 1 billion in investments over the next five years. This initiative is intended to support the revitalization, development, and growth of micro, small, and medium enterprises (MSMEs) in the region. Additionally, the summit plans to launch an enterprise development agency focused on establishing, developing skills, and providing market access for MSMEs, startups, and corporate businesses in South East Nigeria.
Dr. Okwenna noted that NEPZA’s role in establishing, licensing, and regulating free zones aligns with SEBIS’s objectives. A well-structured partnership between NEPZA and SEBIS is expected to enhance local and international investment in the South East.
The South East Business and Investment Summit (SEBIS) is a public-private sector initiative spearheaded by Continental Export Development Nigeria. It has established partnerships with The Infrastructure Bank (TIB), Enyimba Economic City Development Company FZE, Lion Business Park, Nigerian Diaspora groups, and various investment communities in Europe and America.
The summit aims to rotate across the five South East states, focusing on fostering business growth, cooperation between government and private sectors, and enhancing regional economic development.