Chinese investors describe Edo as business-friendly
Report by Eranga Isaac, Benin City
Edo State has been described as a prime destination for foreign investors due to the business-friendly environment and basic infrastructure needed by investors.
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. Zheng 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.”
According to him, “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.”
Governor Adams Oshiomhole of Edo State (2nd
right) points at
something of interest while Mr Zheg Zhang Ze, Managing
Director
Yongxing Steel Company (left), Mr Spark
Lee, Public Relations
Officer and Mr Frank Khan, Marketing Manager (right),
watch
during the Governor's inspection of the Steel factory in Benin City,
on Monday.
He added, “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 Comrade 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, Governor Adams 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.”
The Governor said: “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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