Economy

Chinese investors eye energy, rail, communication sectors

<![CDATA[A group of investors from China on Monday in Abuja expressed
investment interest in energy, railway and communication sectors of
Nigerian economy.

The leader of the delegation, Mr Alan Rainbird, President, Intrazones
Energy Services Limited, stated this when the team paid a visit to the
Minister of State for Foreign Affairs, Mrs Khadija Abba-Ibrahim.

Rainbird, said the visit was to promote investment cooperation between China and Nigeria.

He said that the 20-man delegation comprising leaders of major
companies in China would strike deals that would guarantee economic
stability and national security in Nigeria.

“We want to promote our cooperation between the two countries and
contribute our quotas to the growth of Nigerian economy. Our programme for Nigeria is larger than railway construction.

“It will bring large scale permanent employment to the people, it will
add value to the nation’s resources and generally address the problems
of instability and insecurity. It will also bring down the country’s level of import.

“Investing in railway is an important part of infrastructural programme because it will have ripple effect on all sectors of the economy,” he said.

He also disclosed that the team would be visiting Lagos and Calabar
subsequently.

The  Chief Executive Officer, Research and Design Institute Group, Mingzh Wang, said the visit of Chinese companies to the country was a
sign of their commitment to the business opportunities.

“It will also contribute in strengthening  the corporation between
Nigeria and China”, he said.
He said that his company would invest in refinery .

The Minister commended the investment drive of the delegation
stressing that the relationship between Nigeria and China has been a
cordial one.

“There are several Chinese Companies operating here in Nigeria,” she said.

Abba-Ibrahim said that one of the priorities of the government was to
improve on the economy, which has over time, depended largely on oil.

“As you know, our economy has depended on oil but with the fall in
oil price, the government is trying to diversify its revenue base,” she added..

She said that investing in the transport, energy and communication
sectors of the economy would be a welcome development in view of the
employment opportunities the investments will create.

The Minister also thanked the Chinese government for the warm
reception accorded Nigerian government during the recent visit to
China.

Abba-Ibrahim stressed that the followed-up by Chinese companies with a visit to Nigeria showed their zeal to invest in the country.]]>

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