The Enugu State Investment Development Authority (ESIDA) has been thriving to improve the economy of the state. To make this possible, the sector has been trying its best to provide a friendly business environment for more investors to do business in the state.
However, if you are a businessman or woman (Investor), you can take advantage of this opportunity to expand your business by investing in Enugu State.
The state is known for its performance in the business sector trying to meet up with some of the best states in the country when it comes to business or investment sector.
Introducing Enugu State Investment Development Authority (ESIDA)
It was established by the Enugu State Investment Authority shortly after the law was passed by the Enugu State House of Assembly in December 2015.
The Main purpose of the Enugu State Investment Development Authority (ESIDA) includes:
First, the forum was established to address the issues that make the business environment unhealthy or unfriendly.
Secondly to attract more private sector investors into the state. This will make it easier and more comfortable for private investors to make business in Enugu State.
Enugu State Investment Development Authority (ESIDA) – Target & Performance
To be able to accomplish its goals, the Authority which has conducted business operations for the past years has already taken many practical steps to keep itself in a better position to effectively and efficiently set its target and deliver milestones in critical performance areas.
Some of its targets include the following:
- To establish One Stop Investment Centre (OSIC) to facilitate the processing of relevant approvals
- Attracting a minimum of $ 10 million worth of private-sector investment annually
- And also package investment opportunities in growth sectors and pitch those opportunities to at least 20 investors annually.
How the Enugu State Investment Development Authority (ESIDA) set to meet Target
To achieve this mission, the Enugu State Investment Development Authority (ESIDA) decided to exchange knowledge with its closest neighbour state – Anambra.
The Anambra State Investment Promotion and Protection Agency (ANSIPPA) also provided practical guidelines to assist the Enugu State Investment Development Authority in successfully achieving its mission.
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However, all entrepreneurs are advised to invest more at home than they do outside to assist in the development of and improvement of the state’s economy.
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Frequently Asked Questions on Enugu State Investment Development Authority
What is the role of the state in development?
It helps to handle and control over production, distribution, and consumption of commodities, & to achieve this, the government has to set up physical controls & monetary and fiscal steps. These measures are essential for reducing economic and social inequalities that are prevailing in underdeveloped countries.
What is meant by state development?
A developmental state works toward balancing economic growth & social development.
It uses state resources and state influence to attack poverty and expand economic opportunities. In all countries, the state plays some role in shaping the structure and output of the economy.
How can the development of a country be improved?
- Promote education – Mass Literacy
- Empower women
- Negotiate strategic political relations
- Share resources. Obviously, the fewer resources an average family uses, the lower the nation’s ecological footprint.
What is a state development plan?
Fundamentally, the State Development Plan should include policies in areas related to the orderly physical, social, and economic growth and development of the state, all of which should reflect the principles of smart growth.
What are the strategies for development?
- Identifying & understand the current position.
- Reflect on how you got there.
- Be clear about your corporate identity (mission, vision and values)
- Analyse your strengths and weaknesses.
- Analyse the business environment.
- Identify and evaluate strategic options.
- Set objectives.
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