In a bid to attract significant investment from Chinese investors and enhance trade relations, the management of China Town in Lagos has begun negotiations with the Osun State government to establish factories and promote industrial development. This partnership aims to eliminate the influx of sub-standard Chinese products into Nigeria while creating job opportunities for local communities.
Chief Ronnie Liu, Chairman of the Chinese Investors Association for Development and Promotion, revealed this during a press tour at China Town in Lagos. He emphasized the commitment to eliminating low-quality imported products, which have negatively impacted business in China Town. Liu stated, “We are working with the Osun State government to bring Chinese investors into the state, which will help reduce the importation of sub-standard products and generate employment.”
Liu further explained the initiative to transform China Town into an exhibition hub for high-quality products and a center for trade, investment, and cultural activities. In line with the Belt and Road Initiative (BRI), China Town is taking the lead in strengthening cooperation between China and Nigeria by providing consulting services to both Chinese investors and Nigerians involved in trade with China.
He noted that China Town is being repositioned to focus on the middle and high-end market, distributing quality goods such as hardware, building materials, and auto parts. With strong political and business support in Nigeria, Liu is confident that China Town will soon evolve into a thriving commercial hub with Chinese characteristics, featuring schools, cultural centers, hotels, and restaurants, all while ensuring product quality through strict screening processes.
