In a demonstration of Lagos State’s commitment to fostering both local and international investments, Governor Babajide Sanwo-Olu expressed the state’s readiness for business and its openness to new investments. This affirmation came during a courtesy visit by the management team of Daewoo Engineering and Construction Nigeria Limited, led by Group Chairman Mr. Jung Won Ju, at the Lagos House, Ikeja.
Governor Sanwo-Olu assured investors of the administration’s dedication to creating an enabling environment for businesses to thrive in the state. He conveyed the Lagos State Government’s preparedness to collaborate with Daewoo Engineering and Construction Nigeria Limited across various sectors, including automobile, real estate, and technology.
He stated, “Lagos is ready for business and open for new investments. I know Daewoo Nigeria has been here for a while, but this is an opportunity for you to take that relationship to another level.” The Governor emphasized the importance of turning the visit into a commitment and real partnership that results in tangible transactions benefitting both parties.
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Potential Collaborations in Key Sectors
During the meeting, Governor Sanwo-Olu expressed interest in exploring collaborations in automobile, real estate, and technology. He highlighted the strength and capacity of Daewoo Industry on a global scale and encouraged the company to leverage the opportunities Lagos presents for substantial growth and impact.
He said,“The relationship between South Korea and Nigeria dates back several decades and we all know how the Daewoo Industry is worldwide….
“We are here to create the enabling environment for investments and businesses to grow. So, whatever you need from our side for your investments within our means, you can be rest assured that we are willing to do it for as long as we see a mutually beneficial relationship.
“Our city is open. We are ready and willing to create that partnership with you in automobile, real estate, and technology because we have a very strong and capable youth population that is dynamic. They are very professional and they are ready to work.”
Daewoo’s Investment Plans in Lagos
Mr. Jung Won Ju, the Group Chairman of Daewoo Engineering and Construction Nigeria Limited, conveyed the company’s intention to invest in real estate and infrastructure in Nigeria. Lagos, being the economic capital of Nigeria, has been identified as a major investment area for the company.
Mr. Adekunle Ilesanmi, the General Manager of Contract and Business Development at Daewoo Engineering and Construction Nigeria Limited, praised Lagos State for accommodating numerous investments and providing an enabling environment for favorable returns. He stated, “Daewoo has over 40 years of commitment in Nigeria. We are trying to increase our investments in the country, and Lagos has been identified as one of the major investment areas because Lagos is the economic capital of Nigeria.”
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Commitment to Housing, Real Estate, and Infrastructure
The company outlined its commitment to investing in housing, real estate, and infrastructure, with a specific focus on the real estate and housing sectors. Mr. Ilesanmi commended Lagos State for its investor-friendly approach, creating an environment where investors are assured of returns on their investments.
According to Mr. Ilesanmi, “We are going to be investing in housing, real estate and infrastructure. Daewoo has over 40 years of commitment in Nigeria. We are trying to increase our investments in the country and Lagos has been identified as one of the major investment areas because Lagos is the economic capital of Nigeria.
He added, “It is very commendable to see Lagos State accommodating a lot of investments and giving an enabling environment to all the investors coming in and ensuring that there is a return on investments. That makes Lagos attractive because when you invest here, you are sure of a return on your investment. The government is going to support you to be able to have a return on your investment.”