Chinese manufacturers have revealed that they are in the country to seek ways of investing in the Nigerian economy.
Over two hundred of these manufacturers are participating in the ongoing China Homelife Fair holding in Lagos.
The coordinator in charge of the Exhibition, Jude Chime, clarified that the project was set up to tie the gap between Chinese manufacturers who are looking forward to growing their trademarks in the country, and the West African region.
According to Chime, some manufacturers are looking at backwardly integrating production of certain electronic items in the country. However, participants have been advised to leverage on the meeting to explore combined ventures that would support local production, rather than importation.
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Quoting the coordinator:
“We have over two hundred manufacturers representing China. The purpose is to meet with stakeholders in the investment sector to explore opportunities on how to create an investment hub where manufacturing activities can take place, and not make sales”.
Chime explained that one of the companies from Shenzhen which is into the production of Television will be offering some Semi-Knocked Down aspect of the television to start production in Nigeria.
He added that they will be meeting with some stakeholders to see how to exploit the project. Hopefully, this will help to bring down the production cost of television in the country, as well as the West African region.
He further stated that the exhibition was aimed at promoting investment, as both countries have always had a great level of relationship in terms of trade. The coordinator assured that the fair will aid trade growth from the present level. Furthermore, he noted that only original Chinese manufacturers are the ones being admitted for the expo.