The Enugu state Government has drawn up an investment model to encourage local and foreign investors participation in the development and growth of the state’s economy.
The state Commissioner for Commerce and Industry, Sam Ogbu-Nwobodo disclosed this while presenting a paper on “Investment opportunities in the South East zone of Nigeria” (Enugu state as case study) at the investment forum of the Technology and Innovation expo 2019 on Wednesday 16th January, 2019 in Enugu State.
According to Sam Nwobodo, “this economic policy document is designed not only as encouragement but also a roadmap to would-be investors. This policy document has been codified into Enugu Sate Investment Authority Law OF 2017, as amended and the Enugu state PPP Law of 2017”.
“In a well-diversified economy, the private sector is the key driver of industrialization and rapid so-socioeconomic development, which in turn leads to higher returns for the government in terms of Internally Generated Revenue, through taxes, rates license, fees and a host of other channels”, he added.
Mr. Nwobodo also said that “Enugu state has achieved some impactful reforms to improve the ease of doing business. The reforms include Building permit issued within 10 days, e-Registration for payee, harmonized and levies regime through Land use charge Law increase ICT penetration for IGR collection. Digitalization of nearly all Land to resolve commercial dispute faster”.
“Other completed reform initiatives include setting up of an investment Promotion Agency with a One-Stop Shop Agency as a Mechanism for driving its mandate, streaming of business process and removal of redundant ones, full implementation of the single treasury accounts initiatives in its MDAs, and the establishment of the Ease of Doing Business Council chaired by the His Excellency the Governor , with strong membership role by the organized business sector like MAN and the Chamber of Commerce” .
Other South East States he added are equally making commendable efforts in reforming their business environBment. He called on investors to seriously consider the South East Zone for investment.
The state government he explained is open to discussion on any of these investment model, State–Owned/Private Management, Private Investment/Privatization, Private/Joint venture and Wholly Private Sector owned and driven investments.
Stakeholders in the science and technology sector, captain of industries from both Nigeria and Portugal attended the Forum.
EDET. E ETUK
FOR: DD PRESS
22ND JANUARY 2019.