The Nigeria- Middle East Economic and Investment Forum, Tel
Aviv, Israel is going to serve as a platform to promote economic
relationship with mutual benefit between Africa and the Middle East. African
states need to implement reforms to improve the environment for investment and
also encourage private investors to engage more strongly in Africa.
Nigeria’s potential as a growth market for business remains both
underestimated and misunderstood as does the potential for business to play a
transformation role in solving the continent’s biggest challenges.
Its fast-growing population and markets present important opportunities
for business in an environment of slowing global growth. At the same time,
greater innovation and investment from business is essential to meet Nigeria’s
unfulfilled demand for goods and services, close the gaps in its
infrastructure, create jobs, and decrease poverty.
It’s a positive shift that governments in the Middle-East
region are proactively fostering a change in the economic models to suit
the changes in the world. Historically, they have built their wealth on the
basis of oil. But as they are shifting their focus away from hydrocarbons,
technology is emerging as one of the major priorities in their economic
development.
The Middle East and Nigeria region is generally rebounding from
the surprisingly sharp tailspin that rocked the oil-rich area during the global
2009 recession. Boosted by rising oil prices, improving capital markets and
gradual growth in lending, governments across the region are pursuing
aggressive spending plans and actively courting international investments to
spur job creation.
These gains point the way to a continued economic comeback for
many Middle East and Africa countries especially Nigeria, yet some wounds have
been slow to heal. The overall region has been experiencing a “two-speed
recovery,” say researchers.
The Nigeria-Middle East Economic and Investment forum, Tel aviv,
Israel which will be organized by Trade Nigeria in partnership with Globe
Chamber of Commerce and Industry will not only create a cohesive business
space, but a more formidable business partnership that will help Africa to
annex its potentials and give them a voice in the global community.
The aforementioned subject is brought
to you, courtesy of National Mail.
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