Calabar Investment Summit: Take advantage of our comparative advantage and invest in Cross River – Gov Otu woos investors
Cross River State Governor, His Excellency Sen. Prince Bassey Otu has urged the international business community to take the enormous advantage the state has over any other state in the country to come in and invest in different existing sectors of the state economy.
Gov. Otu dropped the hint on Wednesday during the opening of the two-day International Investment and Cooperation Summit (ICIS) held at the Calabar International Convention Center, Calabar.
Otu reiterated that the state has a comparative advantage over every other state in the country ranging from enormous agricultural potential, mining, renewable energy, and tourism as well as other areas of interest to the investors.
“The assemblage of these cerebral minds in this auditorium today is, therefore, a well thought out initiative by the current administration in the state to catalyze growth and development in the multiple sectors of the state through capital importation of foreign direct investments”
“Cross River serving as home to the largest Free Trade Zone with a near zero crime rate and welcoming disposition of the citizenry has greatly enhanced the investment-friendly atmosphere of the state,” the governor emphasized.
Otu also noted that Cross River is surrounded by a tropical humid climate with a forest ecosystem that stabilizes the regional pattern, which, along with other advantages the state enjoys for business growth, contributes to its favorable climate.
He said that the locals in the forest zone receive training on alternative fuel sources rather than wood harvesting for firewood and are encouraged to find alternative sources of animal protein, protecting endangered animal species in the process.
The governor said, that even though Cross River has the largest forest reserve in the nation, the governor insisted that his administration plans to consolidate the position by doubling the current reserves over the following few years.
The keynote speaker at the summit, Mr. Herbert Wigwe, Chief Executive Officer of Access Holdings, who was represented by Mr. Victor Eteku urged the state government to support medical tourism, foster a culture of partnership and collaboration, and foster the expansion of an educational institution that can contend with the top 20 in the world.
Victor Edet, special adviser for international cooperation and investment, earlier stated that the conference’s focus is on fostering economic ties and addressing issues that will have an impact on the economic growth of the state while also highlighting opportunities that are already present.
Mr. Edet stressed that “The state economic potential will help broaden horizon, broker new cooperation, focus on high returns and long term investments to unlock valuable dividends that will address the fundamental challenges confronting development and discuss investment trends and strategies that can be exploited to maximize the potential of every business, local government and agencies of government.”
Highlights of the event were the unveiling of the economic potential of the state by the Executive Governor, His Excellency Sen. Prince Bassey Edet Otu through his maiden address.
