FG promises to strengthen investment promotion policies

The Federal Ministry of Industry, Trade and Investment (FMITI), says it will strengthen the coordination of investment policies geared towards promoting investments in Nigeria.

The Minister of FMITI, Otunba Adeniyi Adebayo, made the pledge during the media unveiling of Nigeria-Bulgaria Business Exchange Platform.

Represented by Mr Murtala Tanko, Deputy Director, Investment Promotion, FMITI, the minister underscored the importance of investments in poverty reduction and sustainable development.

The event was organised by the Centre for Entrepreneurial Exchange Development, (CEED) Africa, FMITI and Bulgaria’s Ministry of Economy, in conjunction with the Embassy of Bulgaria in Abuja.

According to Adebayo, investment is globally accepted as a veritable tool for poverty reduction and sustainable development.

“Investment is today a hub around which international, diplomatic and political relations of countries are defined.

“Countries are increasingly dedicating attention to the conduct of both domestic and international investment, through strengthening and coordination of investment policies,’’ the minister said.

Earlier, Mr Yanko Yordanov, Ambassador of the Republic of Bulgaria to Nigeria, stressed the need to sustain the bilateral cooperation between Nigeria and Bulgaria.

According to Yordanov, it should be a bilateral cooperation that talks about mainly three things, namely; Ambition, Sustainability and Growth.

“So we are very proud that we are unveiling something that will deepen our cooperation, and we are happy that we have plans to achieve this excellent cooperation between both countries.

“The initiative is not a one in a time thing, but a sustainable process that has been designed for businesses to thrive in a more basic platform.

“If we look at the trade turnout throughout the years, we can see more ups and downs, so if we could maintain the progress, we will have more ups than downs.

On his part, Mr Chukwuma Udechukwu, Director, CEED, Africa, said that the Nigeria-Bulgaria Business Exchange Platform would become the most important annual gathering for government, investors/entrepreneurs/company owners, among others.

According to Udechukwu, the event series balances a focus on the advancement of private investment transactions between countries, market thrust building and insights, which intend to move deal-making beyond the introductory phase.

The Director said that the platform was meticulously organised to create a conducive platform for synergy, trade and investment interaction between businessmen and industrialists from Nigeria and Bulgaria.

“The establishment of the platform marks the fulfilment of a dream, a vision that started years ago when we began to realise that we need to bridge the gap.

“To uniquely address the issue that has hindered the growth and successful development of trade and investment between Nigeria and Bulgaria, irrespective of over five decades of bilateral relationship between both countries.

“The programme is intended to create a more beneficial and mutual business relationship between the two countries to attract desired foreign investment,’’ he said.

The News Agency of Nigeria (NAN), reports that the event has as theme; “Regeneration of Trade and Investment opportunities for Economic growth’’.

The Nigeria-Bulgaria Business Exchange Platform would be launched online on Nov. 25. (NAN)