Ebonyi State Governor, Engr. David Nweze Umahi has called investors across the nation to come to his state for investment assuring them of conducive environment and modalities for economic boost for the benefits of the populace.
The governor made this call in a parley with National Assembly members from the state, captains of industries among other Ebonyi indigenes residing in Abuja, noting that the state’s investment protection law which would ensure the future government policies does not affect investors coming into the state adversely.
Umahi attributed the poor investment opportunities in the state to change in government policies, but has assured of his administration's initiative championing the conducive environment for investors coming to tap from the state government’s programmes and policies.
His words: "I encourage Ebonyi indigenes to come home and invest in the state as the state government currently has N3billion facility from Zenith bank which people could access.
“We are seeking that our people come with proposals: what they want to do and in partnership with the bank of industry; with the N3billion available, we intend to grow it to N6billion.
Further, he said, his government plans to search for banks that would look at such proposals to facilitate granting of soft loans for the people's progress.
“We have monitored the agricultural and empowerment loans we gave and are so encouraged.
“We are encouraging big investors and because of that, we have to put in place the investment protection law and the aim is to protect those coming into the state to invest.
"We urge our people to come home and invest in agriculture, the emerging Ebonyi international mall, housing projects, international market among others as such would build the economic base of the state."
He maintained that government policies must not continue to frustrate investments, as according to him, the state government aimed at ensuring the laws and policies made protect the interest of the investors in the state.
He said: “One of the reasons people don’t invest is because government policies frustrate investors and when one government comes and goes and another comes, policies will change.
“We are an investment friendly state and to ensure that we protect our investors from future government policies, we sat and thought about what to do.
The governor said that the state government’s investment protection law assesses the investor’s investment portfolio and then the government enters into a Memorandum of Understanding (MOU) and gives the investor an ISPO.
“This will ensure that any time a change of government affects such an investment that it starts losing money, the investor will collect that investment from the federation account."
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