The Problem with Made in China?

Photo illustration by Ekenyerengozi Michael Chima. ©All rights reserved. 2024.

The Problem with Made in China

Briefing Manufacturing in Asia

The Economist, January 13th, 2007.

Page 68-70

It is worth reading if you missed the issue.

Can Nigeria become the China of Africa?

Why did the American firms ignore Nigeria, the most populous country in Africa with the largest market on the continent for the location of their factories?

Nigeria does not have the required utilities for the mass production of their products?

Can Nigeria become in Africa what China has become in Asia?

Labour is cheaper in Nigeria than China.

Transportation by railway is also cheaper.

The major hindrance is lack of regular power supply?

CIG Motors of China has an assembly plant in Lagos in spite of the challenges of doing business in Nigeria.

The Capitalism of Made in China should be a good title for a book on how American capitalism dines and wines with communism in China.

This should be a case study on the international politics of the economics of Made in China factories of blue chip American firms.

Big American Companies with factories in China include the following:

General Motors
Nike Store
Boeing
Coca Cola
KFC

Microsoft
Procter & Gamble
Starbucks
Intel
Walmart

Like the phenomenal Asian Tigers, can we see the emergence of the African Lions in global trade led by Nigeria?

- Ekenyerengozi Michael Chima
 The CEO,
International Digital Post Network Limited

Lagos Free Zone Wins Industrial Champion Category at the Global Free Zones of the Year 2023 Awards

PRESS RELEASE

Lagos Free Zone wins Industrial Champion Category at the Global Free Zones of the Year 2023 Awards

The award is in recognition of the leading industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa

LAGOS, Nigeria, October 26, 2023/ -- Lagos Free Zone (LFZ) (www.LagosFreeZone.com), the first deep seaport-based private free trade zone in Nigeria has won Industrial Champion category of the Global Free Zones of the Year 2023 awards by the fDi Intelligence, a service from the Financial Times. The FDi Intelligence monitors global greenfield foreign direct investments across sectors.

Dinesh Rathi, MD/CEO, Lagos Free Zone

The award is in recognition of the leading industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa. According to the special report released by fDi Intelligence recognizing the world’s best free zones for FDI, LFZ was recognized as the inaugural winner of Africa’s industrial champions category on account of its integration with a deep sea port that receives container vessels from around the world, creating new opportunities for manufacturers looking to export their goods.

“When it comes to staffing projects, manufacturers benefit from the company’s community jobs portal and a future training hub, which is dedicated to vocational skills that align with its priority sectors of food and beverages, pharmaceuticals, engineering, paper, chemicals and non-metallic minerals.” it stated.

Dr Olufemi Ogunyemi, Managing Director at the Nigeria Export Processing Zones Authority quoted “We are deeply excited about this development and congratulate the Lagos Free Zone team for their efforts. This recognition further strengthens NEPZA’s commitment to driving the Renewed Hope agenda with free zones as the cornerstone of our approach to drive investments into the country. We will continue to provide a conducive environment for businesses to thrive and contribute to our nation's prosperity. We are excited about the opportunities that lie ahead”.

The newly appointed CEO of the Nigerian Investment Promotion Commission, Aisha Rimi, congratulated Lagos Free Zone and said “We are glad to see investment hubs like the Lagos Free Zone get global recognition and congratulate the team at Lagos Free Zone for being announced the Industrial Champions for the African continent at the Global Free Zones awards this year. We are committed to work constructively with public and private sector players towards the common goal of driving inward investments and contributing to the economic growth of the country.”

In his remarks, the Chief Executive Officer, Lagos Free Zone, Dinesh Rathi described the award as a testament to the commitment of the promoters to attract global manufacturers by providing a world-class industrial ecosystem and thereby create employment opportunities for Nigerians.

Rathi noted that the company is extremely delighted at the recognition and would continue to take giant steps that would attract both local and foreign investments in the manufacturing sector.

“At Lagos Free Zone, we make it possible for businesses to make “Make in Nigeria for Africa” by providing a world-class industrial ecosystem integrated with Lekki Port, Nigeria’s most modern and deepest seaport. We invite global and local manufacturers to unlock hassle-free growth in West Africa and beyond through this ecosystem. We humbly dedicate this prominent recognition to all Nigerians,” he said.

Distributed by APO Group on behalf of Lagos Free Zone (LFZ).
 

About Lagos Free Zone:
Established in 2012, Lagos Free Zone (LFZ) is a unique and award-winning (https://apo-opa.info/3Qw3Xgp) port-based industrial zone (850 hectares) in Lagos, Nigeria, with over USD 2.5 billion committed FDI projects to date. Owned and promoted by Tolaram (https://www.Tolaram.com), LFZ is located in Lekki, the sun rise development corridor in Lagos. With a vision is to be the preferred industrial hub in West Africa with world-class infrastructure and LFZ has global brands like BASF, Kellogg’s, Colgate, Arla, Dufil, Lekki Port (https://LekkiPort.com) among others as its current tenants. For more information about Lago Free Zone, please visit https://www.LagosFreeZone.com/

SOURCE
Lagos Free Zone (LFZ)

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