Study

Kano seeks foreign investors to boost economy

The Kano State government is seeking foreign investment in critical sectors such as power, agriculture, infrastructure and mining, to boost its economy and enhance its competitiveness.

The State Governor, Abdullahi Umar Ganduje made the appeal during the Kano presentation at the 8th Annual Investment Meeting (AIM) taking place at Dubai World Trade Center, United Arab Emirate.

My government is reaching out to foreign investors on a regular basis and providing them with necessary incentives such as land for the setting up of industrial ventures, adequate tax relief, adequate infrastructure and assurance of stable and secure environment, the Governor said.

Support for Local Employment

Ganduje also said his government would provide support for local employment of staff and facilitate transfer of dividend or profit.

The Annual Investment Meeting is the world’s leading platform for Foreign Direct Investment (FDI), aimed at facilitating strategic networking and promoting investments.

This year, it is focusing on the theme ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth and Sustainable Development’.

Kano State that was ranked 23rd (2017) in the Ease of Doing Business by the World Bank has stepped up efforts to ensure that it remains investor friendly. This has made us the most successful PPP state in Nigeria.

A Chinese multinational company, Shandong Ruyi Technology, has already embraced the benefits of our liberal investment policy and is investing over $600 million in the textile and garments industry (in Kano), Ganduje stated

Agriculture potentials

He urged international investors to take advantage of Kano’s vast agriculture potentials, alternative energy resources, huge solid mineral deposits, commercial prospects and productive population, among others for mutual profit.

On the side-lines of the Annual Investment Meeting, Ganduje met with the Under Secretary, UAE Ministry of Economy, Abdullah al- Saleh, where they discussed possible collaboration in the agricultural and renewable energy.

The Governor, alongside his Niger state counterpart, Abubakar Bello also held discussion with a leading member of the ruling family in Dubai and owner of AMERI Group, Shiekh Ahmad bin Dalmook Al-Maktoum on prospective investment.

Memorandum of Understanding

He told the governors that the AMERI Group has signed an MOU with the government of Lagos State in some sectors, and has constructed a power project in Ghana, which could be replicated in their states.

The three-day Summit is a conference of policy makers, heads of multinational corporations, academicians, financial experts and investors.

Source: Voice of Nigeria