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Attracting Foreign Investments Via Nigeria-Turkey Business Summit (1)

| May 18, 2013 More

Entrepreneurs and industrialists from Nigeria and Turkey recently converged on Istanbul to explore and exchange ideas on how best to grow the economies of the two countries.

The meeting tagged “Nigeria-Turkey Business Summit’’ — held between May 6 and May 12 — was organised by the Confederation of Businessmen and Industrialists of Turkey.

Declaring the summit open, the confederation’s President, Mr Rizanur Meral, expressed the desire of Turkish industrialists to invest in Nigeria.

Meral, who conveyed the confidence of Turkish businessmen in Nigeria, said that they would be willing to make substantial investments in the country.

Specifically, Mr Ugur Nazli, one of the Turkish businessmen, pledged to invest massively in Nigeria’s housing and tourism sectors.

He expressed his intention to construct affordable houses and world-class hotels in Abuja and Kano, as part of efforts to bring down the cost of accommodation in the two cities and boost tourism.

Nazli noted that Nigeria had the potential for economic growth through foreign investment flow, adding that it also had a large market for industrialists because of its large population.

He, therefore, called for closer cooperation between Nigeria and Turkey to promote business in the two countries.

Nazli said that Nigeria and Turkey shared similar cultural values, urging Nigerian and Turkish businessmen to take full advantage of existing opportunities to grow the economies of the two countries.

As part of efforts to exploit the emerging economic opportunities in the bilateral relations, the Kano State Government has pledged its readiness to provide land and other incentives to any Turkish investor who is interested in investing in the state.

Alhaji Sarki Ibrahim, the Makaman Kano, gave the assurance during a reception organised for businessmen from Kano state by a Turkish investor on the sidelines of the summit.
Ibrahim stressed that Nazli’s decision to invest in Nigeria and in Kano, in particular, showed the confidence which the Turkish businessman had in Nigeria.

He conveyed the readiness of the government and people of Kano State to provide the necessary support to foster the actualisation of the proposed projects in Kano State.

Similarly, the Bauchi State government says that it is also negotiating with a Turkish company for the construction of a modern shopping mall in the state.

Hajiya Amina Katagum, the Commissioner for Commerce and Industry, who was part of the state delegation to the business summit, said that negotiations for the signing of an MoU for the project had reached an advanced stage.

She said that the project would involve the construction of more than 5,000 shops in the state.

She said that the Turkish investors would be in Nigeria in the next two weeks to complete the necessary modalities for the agreement.

Besides, Katagum said that another group of Turkish investors had also indicated interest in investing in the state’s tourism sector.

The commissioner also said that apart from the Turkish investors, the state government had also signed agreements with some foreign companies on the construction of some power plants in the state.

Katagum said that efforts were also underway to resuscitate all the ailing companies in the state.

Also speaking, Alhaji Yahaya M+ya, the Speaker of the Bauchi State House of Assembly, urged the Turkish businessmen to take due advantage of the investment opportunities existing in the state’s tourism sector.

He particularly urged the Turkish businessmen to invest in the Yankari Game Reserve, which he described as the largest eco-tourism park in West Africa.

Miya also expressed the willingness of Bauchi State to host the next edition of the Nigeria-Turkey Business Summit.

Available statistics reveal that that the volume of trade between Nigeria and Turkey has risen to more than one billion dollars (about N160 billion) annually.

Malam Dahiru Mohammed, Deputy National President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that the volume of trade between the two countries had grown significantly.

Mohammed, who addressed the summit which was attended by more than 100 entrepreneurs from Nigeria, stressed said that with enhanced business transactions between both countries, the trade volume would further increase before the end of this year.

He noted that Nigeria was one of Turkish biggest business partners in Africa, adding that Nigeria was also the 47th largest exporter of goods to Turkey, going by the 2012 records.

Mohammed, who represented the National President of NACCIMA, Dr Ademola Ajayi, urged Turkish businessmen to take advantage of Nigeria’s large market and invest heavily in the country.

“Nigeria, with a population of over 160 million people and a large market in Africa, possesses enough potential for profitability of foreign investment.

“Enormous investment opportunities exist in virtually all sectors of the Nigerian economy,’’ he added.
Mohammed listed agriculture, manufacturing, solid minerals, construction, oil and gas, tourism, power and telecommunications as well as ICT as some of the sectors that could be explored by Turkish businessmen investing in the state’s tourism sector.

The commissioner also said that apart from the Turkish investors, the state government had also signed agreements with some foreign companies on the construction of some power plants in the state.
Katagum said that efforts were also underway to resuscitate all the ailing companies in the state.

Also speaking, Alhaji Yahaya M+ya, the Speaker of the Bauchi State House of Assembly, urged the Turkish businessmen to take due advantage of the investment opportunities existing in the state’s tourism sector.
He particularly urged the Turkish businessmen to invest in the Yankari Game Reserve, which he described as the largest eco-tourism park in West Africa.

Miya also expressed the willingness of Bauchi State to host the next edition of the Nigeria-Turkey Business Summit.

Available statistics reveal that that the volume of trade between Nigeria and Turkey has risen to more than one billion dollars (about N160 billion) annually.

Malam Dahiru Mohammed, Deputy National President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that the volume of trade between the two countries had grown significantly.

Mohammed, who addressed the summit which was attended by more than 100 entrepreneurs from Nigeria, stressed said that with enhanced business transactions between both countries, the trade volume would further increase before the end of this year.

He noted that Nigeria was one of Turkish biggest business partners in Africa, adding that Nigeria was also the 47th largest exporter of goods to Turkey, going by the 2012 records.

Mohammed, who represented the National President of NACCIMA, Dr Ademola Ajayi, urged Turkish businessmen to take advantage of Nigeria’s large market and invest heavily in the country.

“Nigeria, with a population of over 160 million people and a large market in Africa, possesses enough potential for profitability of foreign investment.

“Enormous investment opportunities exist in virtually all sectors of the Nigerian economy,’’ he added.
Mohammed listed agriculture, manufacturing, solid minerals, construction, oil and gas, tourism, power and telecommunications as well as ICT as some of the sectors that could be explored by Turkish businessmen.

The NACCIMA chief urged the summit to enhance the volume of trade between Nigeria and Turkey, while eliminating the challenges facing the smooth flow of trade between the countries.

Mr Foluso Adesh+da, Nigeria‘s Deputy Head of Mission in Turkey, assured the Turkish investors of the safety of their investments in Nigeria in spite of the prevailing security challenges facing the country.
He said that the Federal Government had also put concrete measures in place to guarantee the safety of foreign nationals doing business in Nigeria.

Adesh+da, who spoke at the beginning of the summit, said that Nigeria remained one of the safest places in world for investments and urged the Turkish industrialists to take advantage of the huge investment opportunities existing in Nigeria.

He said that the Federal Government had made the cost of doing business in the country somewhat easy, adding that foreign investors in Nigeria were also free to repatriate their profits to their respective countries unhindered.

 

Category: Bauchi State News

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