As funding escalates in Africa for the development of the continent, The Nigerian Arabian Gulf Chamber of Commerce has agreed to a Memorandum of Understanding, MoU, with its equivalent National Polish Arab Chamber of Commerce for the expansion of the investment and trade aspects. The announcement has been made official by the Executive Assistant of the Chairman of NAGCC, Souzan Owji.
The memorandum has been officially signed by Mahmood Ahmadu, Chairman of the NAGCC on behalf of his firm and Robert Jreissati from the National Polish Arab Chamber of Commerce in Dubai, United Arab Emirates, on the merits of President Muhammadu Buhari’s involvement at EXPO 2020 stating numerous business initiatives in the upcoming months.
As per reports, NAGCC is a privately managed bilateral and multilateral trade and funding organization which is committed towards the flourishment and promotion of business relationships, enablement of trade and investment between Nigeria and the Arabian Gulf.
Chairman of NAGCC mentioned that various businesses from the Dubai EXPO 2020 in the Middle East have shown interest in the different markets of Nigeria and with the signing of the MoU, African economy will record plethora of new investments.
He further claimed that the organization has been in talks with the International Investors Council, a huge investment capital firm, who would be willingly investing in Nigeria after further discussions.
As per credible reports, the Chairman praised President Buhari for steps his administration has taken for the repositioning of the Nigerian economy and efforts to promote business opportunities in the country. Furthermore, the President also issued an Executive Order on Promotion of Transparency and Efficiency in Business Environment.
For the uninitiated, Ahmadu welcomed the recently launched National Development Plan (NDP) 2021-2025 by Buhari led management which aimed at amending laws which obstructed the private sectors from being the main leaders of the economy. He assured that NDP would revamp the foreign direct investments in the country.