A LEADING company
in China, New Hope Liuhe
Company Ltd., has expressed
interests in investing in the
development of some sectors
in Nigeria, especially the
agribusiness to boost the nation’s
economy.
Management members of
the company, led by their
vice president, Mr. Dang Zhi
Min dropped the hint when
they had a business meeting
with the Executive Secretary,
Nigerian Investment Promotion
Commission, NIPC, Mrs. Uju
Hassan-Baba at the commission’s
headquarters in Abuja.
Zhi Min, who said they were
in Nigeria for the first time on
a business tour in the country,
promised to invest in other sectors
like manufacturing, processing
and selling feeds, raw material
additives, milk products, and
agricultural bye products, among
others.
According to him, the
company’s annual turn-over was
$15billion and assured that they
would pump a whooping amount
of money into selected areas of
interest, a situation which he noted
would boost Nigeria’s economy
and reduce unemployment rate in
the country.
He added that the company,
formerly known as Sichuan New
Hope Agribusiness Company and
was founded in 1998, had over 90,
000 staff in China.
In his contribution, General
Manager, Investment and
Development Department of
the company, Mr. Zhao Xin said
it is number one agribusiness
company in China and one of the
biggest in the world.
Xin said the company, in
collaboration with the Bill and
Melinda Foundation, was ready
to invest in Nigeria, which he
described as the biggest market in
West Africa in particular and the
continent in general.
He therefore sought the
government’s assistance to achieve
their dream of helping to boost the
nation’s economy.
Responding, the NIPC chief
executive assured the Chinese
investors of government support
to enable them invest in Nigeria.
Hassan-Baba said part of the
commission’s mandate was to
encourage, promote and coordinate
investment in the nation’s
economy.
“Those who are investing in
the agricultural sector in Nigeria,
especially a company like yours
is assured of abundant resources
and huge fortunes,” the executive
secretary said.
She said that potentials available
in Nigeria included ready-made
market for products, with no
fewer than 170 million consumers
in the country, and additional
population in West Africa.
Consul General of the People’s
Republic of China in Lagos, Liu
Kan had recently put the volume
of trade between Nigeria and
China in 2014 at about N38.01
trillion ($18.1 billion).
According to him, there was
relative increase in the exchange
of goods and services in the year
over the 2013 transactions.
He said, “Today, Nigeria
is China’s third major export
destination in Africa after South
Africa and Angola, while China
is Nigeria’s largest source of
imports and third major trade
partner”.


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