Foreign investors storm Imo to build power plants, car assembly plant, others

Governor Okorocha in group picture with the visiting foreign investors

A group of foreign investors, including Senator Charles Anthony Muse from Maryland, USA, industrialists from India, Israel, China, Turkey, South-Korea, England, Vietnam and South Africa were in Owerri the Imo State capital on Monday to attend the State government-sponsored Trade and Investment Forum held at the Imo State Trade and Investment Centre complex, formerly Ahiajoku Convention Centre, New Owerri.

Declaring open the Forum, Governor Okorocha said that his trips abroad aimed at attracting foreign investors to the State have started yielding positive results, adding that the first set of investors have arrived the State to begin work on various projects.

According to him, the visiting South African industrialists will build community power plants to supply electricity to communities, while the investors from India will establish vehicle assembly plants in the State.

He said the South Korean industrialists will develop the Oguta Blue Lake of Treasure into a world-class tourism complex and build 1000 apartments adjacent the Imo Trade and Investment Centre while the team from Israel will remodel and upgrade the Avutu Poultry into a mega-poultry complex capable of attaining more than ten times its present production capacity.

Speaking further at the occasion, the governor said that the team from England will reconstruct the Fishing Farms in Onuimo into a multi-million Naira fish production complex and a sister team from the same country will remodel and reactivate the Okigwe water complex to supply water to Okigwe zone and its environs.

Others the governor identified among the participants at the forum were Vietnamese investment consortium who will transform the Imo Palm Plantation complex to a production capacity more than three times what it used to be, and a prominent Nigerian industrialist and indigene of Imo State, Dr .Innocent Nzuma who will establish a 1,600 megawatt power plant to boost electricity supply in the State.

Owelle Okorocha recalled that in his first tenure in office he fulfilled his promise of free education programme and provided adequate health care facilities through the construction of 27 modern hospital complexes across the State and pledged to ensure that his 2015 election promise of industrializing the State and providing employment to the unemployed in the State is accomplished in like manner.

He acknowledged the need for the private sector to assist his

administration in industrializing the State, describing Imo as being endowed with arable and fertile land for agricultural projects as well as able-bodied men and women that can provide adequate manpower for the programme.  He assured foreign and local investors that the State government will provide land, accommodation and transport in addition to assisting them in processing their residency visas and all other immigration formalities required to enable them establish in the State.

He described the convening of the Imo Trade and Investment Forum as the beginning of the journey to industrialize Imo State.

Speaking earlier, the Chairman of the Imo Trade and Investment Forum and indigene of the State, Dr. Innocent Nzuma said that with the enormous human and industrial potentials of the State, coupled with abundant natural resources and a very large market, Imo State would become the industrial pride of the South East.  Dr. Nzuma advised Governor Okorocha to ensure that his administration provides the instruments and enabling environment needed for the investors to succeed.

Nzuma who is the Managing Director of Nzuma Group, Abuja said he has already established one power plant in Egbema, Imo State and is ready to accomplish the installation of the 1,600 mega-watts power generation plant in the State, adding that he will also venture in agro-business in partnership with his Ukrainian counterparts.

He called on all credible foreign and local investors to come and partner with Imo State government in its laudable industrialization programme which will grow the economy of the State and that of Nigeria at large and also facilitate meaningful provision of employment to the youths in the State.

He said Imo state constitutes a large market because of its position as central link to Onitsha, Aba, Umuahia and Portharcourt and described the industrialization programme of Governor Okorocha as a great stride.

In a keynote address captioned, “Process for Trade and Investment in Imo State, the need for public-private-partnership,” the National President of the Manufacturers Association of Nigeria (MAN), Dr. Ray Jacobs regretted that previous government’s industrialization programmes could not succeed because of their failure to effectively involve the private sector in their implementation.

Dr. Jacobs stressed the need for the State government to provide credible and workable industrial blue-print that will ensure adequate participation of the private sector and ensure that corruption is reduced to the barest minimum, if the industrialization programme is to succeed.

The MAN President who is an indigene of Mgbidi in Imo State harped on the need for government to provide adequate security for the citizens as well as foreigners.

In a remark, Senator Charles Anthony Muse who is also an industrialist from Maryland, USA, described Owelle Okorocha as a blessed by God to do, exploit and accomplish landmark projects.  He assured the Governor of the commitment of industrialists from the United States accomplishing his administration’s industrialization programme.

In a vote of thanks, the Speaker of Imo State House of Assembly, Chief Acho Ihim announced the commitment of the State legislators to foster rapid industrial development in the State and commended the State Governor Owelle Okorocha for his developmental strides.