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Enugu safe for business, investment, Mbah assures American investors, others

WhatsApp Image 2023-11-08 at 18.12.40

Governor Peter Mbah of Enugu State has assured American and other global investors that the state is safe for business and investment with recent government’s deliberate policies at enabling the ease of doing business and strengthening of institutions.

Mbah, who urged investors to consider investing in Enugu’s huge investment opportunities with promise for high return on investment during his address, yesterday, to a global business audience in Houston, Texas, United States, organinsed by Fidelity Bank themed “Fidelity International Trade and Creative Connect (FITCC)”.

Addressing over 700 delegates and investors which included representatives of AFREXIM Bank, USEXIM Bank, the Houston Port Authority, Houston Airport Authority, Woodland Chamber of Commerce Houston, NIPC, Central Bank of Nigeria, Fidelity Bank, and a host of other global investors, in a speech titled, “Enugu State is Ready to Deal: Investment Opportunities and her Compelling Competitive Advantages”, the governor said his administration had already set the trajectory that would make the state the most attractive environment for both local and foreign direct investment in motion.

Represented by the Managing Director and Chief Executive Officer, Enugu State Investment Development Authority (ESIDA), Dr. Sam Ogbu-Nwobodo, Governor Mbah disclosed that policies that would make the business environment most friendly in terms of transparency, accountability, traceability and liberalization had been activated, adding that more investors had started indicating interest in the state.

He further shared insights on the ongoing transformation agenda of his administration and market investment potential enabled by strong institutions that would not only protect investors but also guarantee their investments.

“Our administration adopted an integrated sector-based productivity growth strategy. This strategy is designed to shift economic focus away from low productivity activities to sectors with the greatest potential for growth. Prioritizing sectors that hold latent comparative advantage will ensure that we meet our $30 billion GDP target through accelerated competitiveness and industrialization,” he added.

While highlighting some of the key productive sectors that would be of interest to investors in the state, the governor said the agriculture and agro-allied sector, the energy and mineral sector, the state multi-modal transport system, the ongoing investment in infrastructure and information and communication technology would help to transform the status of the state and also guarantee a high return on investments for investors.

“We have commenced our e-governance process, and our vision is to increase broadband internet availability, establish ICT and tech clusters, build a tier 4 hyperscale commercial AI data centre, implement structured ICT education in primary, secondary, and tertiary institutions, and increase skill acquisition in four areas of interests: fintech and digital technology, IT services, cyber security, and e-commerce.

“We will harness the rich tourism sites in Enugu and deploy investments in eco-tourism. Our goal is to build enabling infrastructure around existing forest reserves, caves, and waterfalls and construct resort areas to promote tourism. Enugu will invest in a film and movie academy, as well as an arts and crafts village.

“This administration recognizes private investment as a key driver of long-term economic growth and prosperity. I declare that our administration is passionately committed to fostering a business-friendly environment through targeted incentives, effective security measures, and transparent, convenient, and effective governmental services. Enugu State will fully support domestic and international partners who are looking forward to expanding their presence in the state,” he further stressed.

Also in attendance were the Mayor of Houston, Hon. Sylvester Turner, the Nigerian Ambassador to the US, Dr. Mrs Uzoma Emenike, the First Ladies of Oyo and Lagos states, Mrs. Tamunominini Makinde and Mrs. Ibijoke Sanwo-Olu, respectively, the Chairman of Fidelity Bank, Mr. Chike Obi, the President of AFRIEXIM Bank, Prof. Oramah, the Managing Director of Fidelity Bank Nigeria, Mrs Nneka Onyeali-Ikpe, among other top dignitaries.

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