The much-expected agency to promote businesses and serve as a one-stop-shop for investment inquiries in Rivers State has been established. This has caused widespread excitement within the business community in the oil-rich state.
In his reaction, a real estate investor, My-ACE China, who is more known as the Mayor of Housing, said the step by Governor Sim Fubara was evidence that the economic and investment summit that took place in the state in May 2024 was not a waste of time.
China said it was also a clear indication to the business community that other recommendations of the economic summit would be pursued with vigour.
China, who is the CEO of Construction and Housing Mayor Limited, told newsmen that the signing of the order setting up the Agency was to him the best news from government after the economic and investment summit.
“It is wonderful news for the fact that it did not only serve as action taken on the recommendations of the economic summit but also sign that promises to the business community would be kept.”
The real estate success strategist urged Fubara to also choose tested persons to manage the Agency to actualize the vision of the administration, saying the state is rich with such technocrats.
He said: “They have to be round pegs in round holes. They have to be people that would motivate and drive business people to aspire to do more businesses in the state. Their business disposition and acumen and their accessibility to investors are what will decide the outcome. The state boasts of very seasoned and sound business technocrats that have the passion to birth an era of ease of doing business.”
He advised those to be appointed into the Agency to get to work immediately and closely collaborate with the Rivers State Tourism Development Agency (RSTDA) because, according to him, before any investor would want to invest in any place, they would want to first visit the place. He said their collaboration would not only bring in tourists but also bring business visitors.
On specific steps the new Agency should take, the Mayor of Housing said the business community would expect them to ensure that the recommendations of the summit committee were fully implemented. He urged the Investment Promotion Agency to consider conducting town hall meetings, workshops, and interactive sessions with local investors.
He said it is local investors that attract foreign direct investors because when the locals are happy, they are the ones to invite foreign investors who act on the experience and testimonies of the local investors.
He said it is very rare for any foreign direct investor to invest in any location without any local investor who would be their foot and hand on ground.
On what to expect, he said: “We have been watching the body language of the governor and it is now turning to actions. Already, a lot of people would be aligning with this coming agency to ensure they are the frontrunners in accessing the incentives being promised to boost the ease of doing business.
“This has boosted our confidence that indeed, brighter days are here.”
The investor who is behind an upcoming, modern estate in a part of the state said in addition to the summit which was a gathering of local and international investors, that the Investment Promotion Council should start conducting town hall meetings, workshops and interactive workshops with local direct investors (LDIs).
“I have always said that the LDIs are the stimulants and the inviters of the foreign direct investors (FDIs) because when the locals are happy, they are the ones to invite the foreign investors who act on the experience and testimonies of the local investors. Also, it’s the LDIs that enter into partnerships with FDIs.
“It is very rare for any FDI to invest in any location without any local investors who are their foot and hands on ground.
“So, this agency would need to partner and implement most of the things that will excite the local investors so as to attract foreign investors.”
