Chinese investors describe Edo as business-friendly
(Nigeria) Edo State has been described as a prime
destination for foreign investors due to the business-friendly environment and
basic infrastructure needed by investors.
Managing Director of Yongxing Steel Company Limited, Mr.
Zheng Changsheng, made this disclosure on Monday in Benin City when Governor
Adams Oshiomhole of Edo State undertook an inspection of the Company’s foundry
at Ogua Community in the state capital.
Mr. Changsheng commended the Edo State Government for
providing the enabling environment for them to do business and contribute to
the economy of the state.
He said, “we are so grateful for this rare opportunity of
your visit to our company and most importantly, for providing the enabling
environment for our company to do business. Indeed, your visit is worthwhile
and without mincing words, we are happy to associate with you and the good work
you are doing in the development of Edo State.
“Your Excellency sir, Yongxing Steel Company located at Ogua
community , in the Benin Bye-Pass Road, Ikpoba Okha Local Government Area was
incorporated as a Limited Liability Company on the 29th day of June, 2012, and
started production in July, 2013. The main object is production and manufacture
of Steel products and has provided for hundreds of workers.
“The strategic intent of this company is to be the leading
steel manufacturer in the country. In the realization of this, two parcels of
land have further been acquired for expansion, and we wish to request
assistance of Edo State Government to help the company link with CBN for the
foreign exchange for our importation of equipment. And help appeal to the
Federal Government to prevail on the Benin Electricity Company, BEDC, to reduce
the existing tariff on electricity.
“Your Excellency, regarding the electricity tariff, we
strongly appeal to Your Excellency and your good office to talk with BEDC and
NERC and do whatever you can do to protect manufacturers including this company
in Edo State.
“Your Excellency, on our part, we promise to continue to
attract other foreign and big investors to the State just as we have brought
‘Times Ceramics Company’ to show to the rest of the country that Edo State is a
prime destination for investment and business without fear of oppression,
marginalization or discrimination.
“The governor sir, permit us to use this medium to inform
you that many of the Ministries and Paralstatals under your good leadership
have been of immense assistance to us and sue for this co-operation for the
mutual benefit of Edo State and our
company.”
Responding, Oshiomhole commended the organization for their
industry and for living up to his expectation.
Oshiomhole said, “I do recall your visit a few years back,
and you had some concerns, and I told you that we would do everything possible
to assist you to address those concerns. We are very happy that you find Edo
State as a home because the whole world is open to investors. So, to come to
Edo State, it shows, as you said, that we have the right investment
environment. We have the land, we have the people. They are hard working, they
are industrious. They have a traditional ruler who is helping to maintain the
peace, and you have everything that you need to assist you as foreigners to
feel at home anywhere you live in Edo State.
“I am happy that your company has since started production,
and you are doing well. You are contributing to the economy of Nigeria and
contributing to the economy of Edo State, and providing employment for many of
our people, both those you employed directly and those who are supplying
various raw materials to your company, as well as those you are selling
products to. So, we are happy about this, and I am happy to hear that you are
determined to carry out more expansion, and you have already acquired two
parcels of land.
“I like this, and I like to quote what you said here, that
Times Ceramics Company ‘are showing to the rest of the country that Edo State
is a prime destination for investment and business without fear of oppression,
marginalization or discrimination.’ I think this for me is a very good
testimonial.
“We will assist you in any way that we can, and I want to
appreciate your sense of corporate social responsibility by the kind of things
you have supported the community to do. Those facilities show that you care
about your host community.”
Governor Oshiomhole
later undertook a tour of the foundry of the company which has about three
hundred workers and hopes to employ an additional four hundred workers in the
next two year after expansion.
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