The Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, on Tuesday said that the country would soon see fresh investment of $500m (N98.5bn) from Chinese investors.
The minister, who stated this during a meeting with a delegation of businessmen from China, said the amount would be invested in key sectors of the economy such as power and agriculture, among others.
She said the Federal Government, in a bid to encourage more investments in the economy, would provide some incentives to investors.
Abubakar explained that the investment would come in form of capital injection from Skyrun Corporation and Hi-Hope International, both of which are umbrella firms for Chinese investments.
She said both companies had already invested about $500m, adding that the fresh injection of funds would bring their total investments in the economy to $1bn.
The minister said, “Our doors are open to people who are willing to come in and invest in our country. The economy needs a lot of investors and different sectors want to key in.
“They’ve already invested over $500m; they’ve come with more expansion plans to go into various sectors. From what we’ve just discussed, they are willing to bring in additional $500m over the next few years, and they are also going to expand in sectors as well as geographical spread.
“So we are hoping that these will generate more employment for us and we’ll see more of our products in the market, especially for export purposes.
“By the time they bring in their documented proposals, and we see the full details of what it is that we are doing, I’m sure we are willing to allow them have some concessions and maybe flexibility in how they come in and so on.”
The leader of the delegation and Chairman, Skyrun International, Xie Shao, said Chinese investors were in the country to get the needed support from the government before they would commit fresh funds into the economy.
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