The need for stakeholders to create an enabling environment for the smooth take-off of the Free Trade Zone at Koko, Warri North local government area of Delta State has been stressed.
Chairman, Delta State Special Economic Zones (Koko/Kwale Free Trade Zones), Brig Gen Michael Ndubuisi (rtd), stated this in a keynote address during the second edition of the Warri North Economic Summit, held at Koko.
The theme of the summit was “Koko Free Trade Zone – Creating Opportunities For Economic Prosperity And Development.”
He said it would boost economic activities in the area, adding that to encourage the board members of the project, there was the need to create a peaceful environment that would not only encourage them (the board), but also the Delta State government, foreign and local investors to feel safe to carry out business activities in the area.
The chairman enumerated the numerous economic benefits of the Free Trade Zone to include the construction of a railway from Lagos to Koko, the dredging of the Benin River to the deep sea and the economic activities that would boost the economy of the locality and Delta State.
MD/CEO of the Delta Special Economic Zone, Pastor Godwin Akpovie explained that the Free Trade Zone is a special area within the country where foreign and local companies could import materials, manufacture goods, export products and perform services without being subjected to the usual customs, tax, labour and other bureaucratic regulations.
The MD assured the Koko community of the willingness of the board to work in synergy with them and ensure that all stakeholders and interests were well represented and consulted.
Former Delta State governor, Dr Emmanuel Uduaghan introduced the Koko Free Trade Zone and secured the first license for the Free Trade Zone about 15 years ago.
The immediate past governor of the state, Senator Ifeanyi Okowa made efforts in ensuring the upgrade and renewal of the license from a Free Trade Zone to Special Economic Zone and hitting the ground running by constituting its board.
Pastor Akpovie also appreciated the state governor, Sheriff Oborevwori, for his foresight and commitment towards the takeoff of the project just as he commended other relevant stakeholders, including representatives of the community.
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