New working session with Minister of State, Abdoulaye Bio Tchané at GDIZ
On Friday, December 8, 2023, we had the honour of welcoming Mr. Abdoulaye Bio Tchané, Benin’s Minister of State for Development and Government Action Coordination, and his delegation at GDIZ for a new working session with the Zone’s leaders.
A number of topics were on the agenda, including the presentation of the development work for the second phase, the installation of approved investors, the strengthening of security measures, and the starting of the Residential Zone work.
The Minister announced an imminent study to be carried out by his office for the development of healthcare centers, schools, and housing. This study will be shared with GDIZ to support the development of the zone.
The Minister also highlighted the need for the development of training centers and incubators to align the skills of learners with the recruitment needs of current and future investors.
The working session ended with a guided tour of the state-of-the-art facilities of the first Integrated Textile Unit of GDIZ textile park, one of the largest in the world. This unit will employ around 5,000 young Beninese and process 20,000 tonnes of Benin’s cotton fiber from spinning to garment production.
Nigeria and Benin remove import restrictions on 43 Products
In an unprecedented initiative, Benin and Nigeria have jointly lifted foreign exchange restrictions on 43 products, including food items, textiles, industrial goods, cosmetics, transportation, and construction materials.
These collaborative efforts mark a significant turning point in the relationship between these countries and give birth to a new era of economic cooperation. The removal of these restrictions presents a significant opportunity for industries within GDIZ aiming to target the Nigerian market.
Below are the lists of concerned products:
- Food Products: Rice, margarine, palm kernel, palm oil-based products, vegetable oils, meat and meat products, processed vegetables, processed plant products, poultry and poultry-based products, canned fish in sauce (Geisha)/sardines, toothpicks, glass and glassware items, kitchen utensils, tableware, gas bottles, tomato purchases/tomato concentrates.
- Textile: Woven fabrics, clothing.
- Construction Materials: Cement, cold-rolled steel sheets, galvanized steel sheets, wheelbarrows, pot heads, metal boxes and containers, enamel articles, steel drums, steel pipes, deformed and non-deformed wire, iron bars, reinforcement bars, wire mesh, steel nails, steel fences and safety and razor poles, wood particle boards and panels, fiberboard panels and panels, plywood boards and panels, wooden doors, glazed and ceramic tiles.
- Industry/Transport: Aircraft/private jets.
- Cosmetics and Miscellaneous: Indian incense, soaps, and cosmetics.
Key Figures on Nigeria:
Area : 923,768 km²
Population : 219 million inhabitants (2022)
Official Language : English
Capital : Abuja
Region : West Africa (300 million inhabitants)
Currency : Naira (1 USD = 803.00 Naira)
GDP : $440.8 billion USD (2021)
GDP Growth : 3.6%
Memberships: Economic Community of West African States (ECOWAS), African Union (AU), Economic Community of Central African States (ECCAS)
35 French investors explore business opportunities at GDIZ !
From December 4 to 6, 2023, the ‘’Rencontre Économique Bénin France’’ took place in Cotonou, focusing on two major themes: agriculture and agribusiness, as well as sustainable cities.
The goal of this event was to enable the 35 participating French investors to identify and develop new industrial partnerships in Benin.
Over the course of three days, these investors experienced a rich and immersive program.
This includes an Agribusiness business forum, meetings with Benin’s public/private ecosystem, personalised business meetings, roundtable discussions, and site visits, including the not-to-be-missed Glo-Djigbé Industrial Zone (GDIZ).
The ‘’Rencontre Économique Bénin France’’ allowed French investors to discover numerous investment opportunities in Benin, particularly within GDIZ.
