FG VOWS TO STRENGTHEN INVESTMENT PROMOTION POLICIES

The Federal Government has vowed to strengthen the coordination of investment policies which are geared towards promoting investments in the country. The government’s focus on attracting investment into the country is because it is globally accepted as a veritable tool for poverty reduction and sustainable development.

According to NAN, the assurance was given by the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, during the media unveiling of Nigeria-Bulgaria Business Exchange Platform. Adebayo who was represented by the Deputy Director, Investment Promotion in the Federal Ministry of Industry, Trade and Investment (FMITI), Mr Murtala Tanko, recognized the importance of investments in poverty reduction and sustainable development at the event which 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.

Adebayo said, “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.’’

Ambassador of the Republic of Bulgaria to Nigeria, Mr Yanko Yordanov reiterated the need to sustain the bilateral cooperation between Nigeria and Bulgaria, which should focus on mainly 3 things namely; Ambition, Sustainability and Growth. The Ambassador said, “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.’’

Also speaking at the event, the Director of CEED Africa, Mr Chukwuma Udechukwu, Director, said that the Nigeria-Bulgaria Business Exchange Platform would become the most important annual gathering for government, investors/entrepreneurs/company owners, among others. He said the platform was organised to create a conducive platform for synergy, trade and investment interaction between businessmen and industrialists from Nigeria and Bulgaria.

What you should know

The Federal Government had recently been reviewing the country’s investment policy to promote investments that meet the country’s economic development objectives within the pillars of the Responsible, Inclusive, Balanced and Sustainable Policy framework. They have been implementing investment policy that will attract both local and foreign direct investments into the country.

https://nairametrics.com/2021/11/09/fg-vows-to-strengthen-investment-promotion-policies/

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