• Monday, June 17, 2024
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CIG to commence new assembly plant operations in 2022

CIG to commence new assembly plant operations in 2022

Choice International Group (CIG), Nigeria’s exclusive distributor of GAC Motors and a frontline Chinese investor has revealed that its world-class assembly plant will commence operations in 2022

This is expected to help strengthen investment in vehicle assembling and sales, spare-parts availability, after-sale services among other things.

“GAC motors is now a joint venture company between CIG motors and the Lagos state government and we will start to make production in our world-class assembly by 2022,” Diana Chen, Chairman, CIG said.

Chen revealed this during an exclusive pre-recorded interview with Channels Television, where she noted that although production activities of their products have been ongoing, the new assembly plant in Lagos will commence the production of environment-friendly cars.

She added that as one of the top manufacturing firms in the world has continued to integrate research and development, manufacturing, marketing, and service in the production and delivery of its products which it wants to extend into Nigeria.

“For the automobile industry in the world, the technical part is not difficult for Chinese manufacturers, it is a very good advantage that Chinese production enjoys when compared with other European and Japanese countries,” she said.

Read also: ‘Akwa Ibom vehicle assembly plant 99 percent ready’

She added that through the partnership, the company will integrate its practices in Nigeria and its business environment in an effort to drive all-round development in the country.

Chen revealed that since its establishment the company has received immense support from the federal and state government, adding that the company’s activities in the last seven years depict a successful expansion operation.

However, she added that more still needs to be done in improving the business environment, adding that due to its large population, among other factors Nigeria is a promising investment destination however stability in the economy particularly in the finance sector is necessary

“Nigeria needs to pay more attention to providing a good business environment for investments to thrive, industrialization facilities must be available while government policies must be business-friendly and readily available for investors,” she said.

Chen said that there are some factors that make investors hesitant to expand their investments such as the poor power supply, infrastructure deficit among other things.

“Infrastructure development must come in majorly from the government’s side, especially because they can use their domestic resources to build it up,” she said.