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Nigerian, Chinese entrepreneurs to sign joint venture deal

16 December 2013, 09:34

Abuja - The Nigeria Entrepreneurs Forum says it will soon sign a partnership and joint venture deal covering key sectors of the economy with the China Industrial Oversees Development and Planning Association (CIODPA).

The NEF President, Sidney Inegbedion, said this in an interview with the News Agency of Nigeria (NAN).

He said the agreement was the outcome of Friday’s meeting in Abuja between representatives of two Chinese companies, Yadoo Investment Company and Gomon New Energy Company and NEF members.

Inegbedion said that the deal would give members of the forum access to the association’s investment portfolio.

The president said that CIODPA’s investment package covered banking, manufacturing, mass transportation, electricity and real estate, among other critical sectors.

In financial terms, he said that the actual size of the investment would be known after the agreement was finalised.

“This is an opportunity for NEF members to present our financial needs to them, and this agreement will translate into more funds to expand our investments in the nation’s economy.

“It is going to be a funding, joint venture and partnership agreement between CIODPA members and Nigerian enterprises under the umbrella of NEF," he said.

The NAN reports that CIODPA is a Chinese industrial organisation of enterprises, individuals and related planning, design and research institutes which have invested or are planning to invest overseas.

It serves as a bridge between the Chinese government or private enterprises and industries overseas.

The NEF is a platform for Nigerian business owners to interact, network and do business with each other and with their counterparts overseas.



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