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"Come and invest in Ebonyi”—Umahi urges investors

Governor David Umahi of Ebonyi state has urged investors across the country to come and invest in the state as the government has put in modalities to protect investment interest and attract massive economic development.

Umahi made the call during a parley with National Assembly members from the state, captains of industry among other indigenes residing in Abuja, stating that the state’s investment protection law for instance, ensures that future government policies does not affect investors coming into the state.

The governor attributed the poor investment opportunities in the state to change in government policies, noting that his administration has put in motion a conducive environment for investors to come and tap from the state government’s programmes and policies.

“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.

He said that the government intends to search for banks that will look at such proposals and then, we will give them soft loans and monitor their 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.

Umahi said that government policies must not continue to frustrate investments, noting that the government expects that when an investor comes and puts down his investment in the state, the law should protect such investment even when another administration comes up with a different policy.

“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.

“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."

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