Nigerian Investment Promotion Commission, NIPC yesterday signed a Memorandum of Understanding, MoU with Qingdao International Chambers of Commerce for the Private Sector, QICCPS to affirm their desire to encourage the inflow of Foreign Direct Investment, FDI from Chinese businessmen in the Chamber into Nigeria.
Executive Secretary of the Commission, Mrs. Uju Aisha Hassan Baba therefore assured of the Federal Government’s support to QICCPS to enable them invest in Nigeria in various areas of interest.
Baba gave the assurance in Abuja during the singing of the Memorandum of Understanding between the Commission and Chinese organisation.
The NIPC boss and the leader of the delegation from China Chambers, Mr. Shang Yongle signed the MoU on behalf of the Federal Government and QICCPS respectively.
Both the parties agreed in the MoU that the two Organizations shall proactively encourage Chinese businessmen to invest in Nigeria, particularly in Construction Sector; like woodwork, furniture manufacturing; cement manufacturing, glass production, garment and diaper manufacturing and railways, adding that the NIPC shall facilitate and support the admission of such investments in accordance with relevant laws and regulations.
She further affirmed that the MoU was signed by the two organisations to encourage the inflow of Foreign Direct Investment, FDI from Chinese businessmen in the Chamber into Nigeria.
According to her, “I am pleased to once again assure the President of Qingdao Chamber of Commerce for Private Sector and members of his team that I will personally ensure that your members that are very desirous of investing, especially those that wants to set up factories in Nigeria are given all necessary support to facilitate the movement of their machineries in Nigeria.”
Baba further said that the signing of memorandum of understanding with QICCPS was an expression of their desire to collaborate with the Chamber to ensure that the business and investment journeys they are about to commence to Nigeria will be hitch-free.
“May I assure you all of the unalloyed support of the Commission in ensuring that your good intention of investing in the Nigerian economy is actualised without hurdles.
“We are hopeful that this visit will kick-start a long term cooperation and collaboration between the Nigerian Investment Promotion Commission, NIPC and the Qingdao International Chamber of Commerce for Private Sector “
The NIPC boss also noted that the need to recognize the benefits of the existing economic and bilateral cooperation between Nigeria and China; having reached an understanding on the need to establish a close working relationship in order to facilitate business entry of members of QICCPS into the country is very necessary.
On its part, the Commission agreed to liaise with relevant institutions of Government in facilitating the grant of relevant approvals and licenses to such Chinese businesses from the QICCPS in accordance with relevant legislations and further agreed to identify specific projects and promote them to interested investors from both countries.
The MoU which was witnessed by the Management Staff of the Commission and the 11man Chinese delegation further agreed to provide and disseminate up to date information on investment related matters to investors in their respective countries and to jointly initiate and organize promotional activities such as exhibition, conferences and seminars for the stimulation of investments into their respective countries.

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