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Thursday, October 01, 2009

ISAN delegation eyes Asian investment

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: The Nigerian High Commission hosted a trade delegation of the Indigenous Shipowners Association of Nigeria (ISAN) in Singapore from 28 �" 30 September 2009 as part of a push to attract investment from the region. This made up the first section of a 10-day road trip covering Singapore, Indonesia and Malaysia that ISAN is making to promote the Nigerian shipping industry and the opportunities available.

In Singapore, ISAN held a seminar and business networking lunch to brief participants from the local shipping community on the latest maritime developments in Nigeria, including the setting up of ISAN Shipping Lines to engage in the huge Nigerian shipping trade in petroleum products.

“The maritime transport sector in Nigeria has undergone significant institutional reforms, deregulations and liberalisation so as to allow for more private sector and direct foreign investment. A foreigner can now repatriate 100% of the dividends back home,” said Chief (Dr) Isaac Jolapamo, Chairman, ISAN who led the delegation.

One of the objectives of the visit was to examine the possibilities of acquiring new tankers the ISAN shipping line. This is ISAN’s second promotion in the region following its participation at the Sea Asia in Singapore in April 2009. [01/10/09]