Enugu Free Trade Zone attracts N240bn in FDI, targets 30,000 jobs

The Enugu state Free Trade Zone licensed by the Federal government to operate as a free trade zone in December, 2015 is expected to attract up to $500 million dollars (N240 billion) worth of foreign direct investments (FDI) from leading global manufacturing companies.

The state commissioner for commerce and Industry Sam Ogbu Nwobodo who disclosed this to news men in Enugu also said that about 30,000 jobs are expected to be created from the FTZ..

Nwobodo announced that the ground breaking ceremony of the Enpower Free Trade Zone (ENPOWER FTZ) scheduled to be hosted by Governor Ifeanyi Ugwuanyi of Enugu State on November 24 would be witnessed by investment groups.

Activities of the industrial clusters hosted in the free zone he said are expected to create jobs across three major regions in the country.

ENPOWER FTZ is a Public-Private participation initiative with the Enugu State government offering international and domestic investors the benefits of connecting to business opportunities from the South-Eastern zone,.

“Governor Ugwuanyi and his government’s private project developers are positioning the free trade zone project as the biggest private sector investment support to the government’s economic recovery efforts”. He noted.

Enpower is affiliated, as a full voting member; to the Dubai-based World Free Zones Organization (WorldFZO) and the Africa Free Zones Association (AFZA) respectively. It intends to function as a certified SMART-SUSTAINABLE & SAFE free trade zone.

The investment promoters intend to provide uninterrupted power supply via an embedded power arrangements, certify the free zone’s infrastructure and operations to globally accepted standards, operate the free trade zone as a one-stop investment destination by integrating all free zone operations with the documentation and cargo handling, customs, immigration administration processes to achieve an Ease of Doing Business rating equivalent to that of Dubai.Besides, the ENPOWER FTZ is to host Africa’s first ever Nigeria-China “Dragon Market”, The second such manufacturing and wholesale centre, after the famous Dubai Dragon Market”. The commissioner said.

According to the commissioner ENPOWER Free Zone was designed to accommodate up to 500 companies located in two Free Zone Areas at The Ninth Mile industrial area and the Akanu Ibiam international Airport.

The specialized industrial clusters to be developed within the free zone areas include, manufacturing Centre and whole-sale market; the Aviation and Aerospace Cluster; the Power, Utilities and Light Manufacturing Cluster; the Health Care Park; the Business and Hospitality Park; Technology and Digital Media Park; and the Chemicals and Agribusiness Cluster

.Through the North-East rail line, EMPOWER FTZ would also offers export-processing opportunities for farmers and agro-allied producers in the northern part of the country to harness, upgrade and convert farm produce to finished products.