Export Processing Zones (EPZs) have become a crucial policy tool among developing countries. Among other benefits, they offer a pathway to capitalizing on the advantages of globalization in the form of trade which follows the inadequacies in import-substitution programs.
The emergence of EPZs as a policy tool has made significant social impact, even though many EPZs have failed to meet their primary objectives.
EPZs are central to the Akwa Ibom State Government’s commitment to diversifying the economy and implementing the ARISE agenda. The adoption of export processing zones as one of the main components of the foreign investment-led, export-oriented industrialization strategy will ensure efficient provision of government support to prospective investors.
With the Nigeria Export Processing Zone Act in view, the Directorate of Diaspora Matters is the lead advocacy group in promoting the ease of doing business in Akwa Ibom State in the global marketplace and interfacing with foreign investors on favorable investment incentives being offered by the state government for the mutual benefit of all stakeholders.
