NEPZA unveils medical free zone to cut imports, boost exports
Nigeria introduces Harvestfield Free Trade Zone to lessen reliance on medical imports and enhance local production.
The Nigeria Export Processing Zones Authority (NEPZA) has launched the Harvestfield Free Trade Zone aimed at significantly reducing the country's dependence on imported medical products. Managing Director Olufemi Ogunyemi announced this initiative in Abuja, highlighting its potential to bolster local manufacturing in the healthcare sector. The free zone is expected to transform Nigeria into a more export-oriented economy and improve the overall healthcare supply chain.
Ogunyemi emphasized the importance of the Harvestfield Free Trade Zone in supporting healthcare manufacturing, attracting investments, and enhancing access to essential medical supplies within Nigeria. By creating a conducive environment for local production, NEPZA aims to encourage health sector investors to take advantage of the free trade zones to facilitate growth and innovation in the medical manufacturing landscape. This move is seen as a response to Nigeria's long-standing challenges related to healthcare imports.
As the initiative progresses, it is anticipated that the Harvestfield Free Trade Zone will not only cut down the costs associated with importing medical goods but also improve the countryβs self-sufficiency in health and medical supplies. This transformation can lead to more job creation, improved healthcare access, and a positive impact on Nigeria's overall economy by enhancing its export capabilities in the healthcare sector.