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Gov. Adams Oshiomole of Edo State

Chinese investors describe Edo as business-friendly

Gov. Adams Oshiomole of Edo State
Gov. Adams Oshiomole of Edo State
Agene GODWIN ,Benin

Edo State has been described as a prime destination for foreign investors due to the business-friendly environment and presence of 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.”

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 Parastatals 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.

About Global Patriot Staff

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