Tech Investment Crucial for Manufacturing Growth, Says Delta Special Economic Zone CEO
Godwin Akpovie, the Managing Director and Chief Executive Officer (CEO) of Delta Special Economic Zone, has identified financial insecurity and multiple taxation as major impediments to the manufacturing sector in Nigeria.
In an interview with the News Agency of Nigeria (NAN) in Abuja, Akpovie expressed concern over the depreciation of investors’ money due to currency fluctuations, emphasizing that financial security is crucial for attracting investments.
Akpovie called on those responsible for the country’s monetary policy to address the issue promptly and devise solutions to instill confidence in investors.
He stressed that insecurity extends beyond physical threats and includes the security of funds invested in the country.
Highlighting the challenge of multiple taxation, Akpovie attributed the problem to a lack of coordination among the three levels of government.
He emphasized that this issue is particularly detrimental to the growth of small businesses and called for a concerted effort to tackle it.
Additionally, the CEO underscored the significance of addressing cyber insecurity and promoting technological adoption within the manufacturing sector.
Akpovie argued that embracing technology is essential for securing investments, and he urged businesses to allocate funds for training and retraining to enhance the skills of their workforce.
Contrary to the notion that technology adoption leads to unemployment, Akpovie contended that it would uncover overlooked areas requiring human intervention, ultimately creating more jobs.
He encouraged stakeholders to invest in technology and training to propel the sector forward.
In advocating for an enabling environment for small businesses, Akpovie appealed to the government to facilitate conditions conducive to their success.
Furthermore, he urged Nigerians to support locally-made products, emphasizing the importance of patronizing goods produced within the country.
Source: NAN
