Hong Kong Entrepreneurs to Invest in Bauchi

Steel Manufacture At Evraz Plc West-Siberian Metallurgical PlantCooling water spays onto a length of red hot steel as it passes through the rolling mill at the Evraz Consolidated West-Siberian Metallurgical Plant, operated by Evraz Plc, in Novokuznetsk, Russia, on Tuesday, Nov. 24, 2015. Photographer: Andrey Rudakov

Sequel to a visit by a high level government delegation, led by Governor Mohammed Abubakar of Bauchi state, to Hong Kong on investment mission, the Lee Group, a well-diversified conglomerate entity, which operates from a number of African countries and Asia and specialises in the production of steel, footwear and plastic goods is leveraging on the offers made by the Bauchi State Goverment to invest in the state given the investment potentials that exist in the state.

The conglomerate, which has over 35 years in running successful businesses and plans to expand by diversifying into agro-based products and solid minerals in the northeastern Nigeria, especially Bauchi State gave the conglomerate’s willingness to invest in Bauchi state after the Governor’s visit to them in Hong Kong.

The Chairman of Lee Group, speaking through the Director, Mr Lee Mang Loog tuesday stated that the conglomerate wishes to invest in mining solid minerals especially Kaolin, Clay, Quartz, Natural Gas, Iron ore, Hydrocarbon all of which abound in commercial quantity in Bauchi state.

The Group also indicated interest in setting up of factories in Bauchi State for the manufacturing and production of Truck Tyres, Rubber slippers, Ceramic tiles, other ceramic products and Bakery that can generate hundreds of thousands of direct and indirect jobs to the youth in the state.

According to a ress statement signed by the Press Secretary to the state Governor and made available to THISDAY in Bauchi, the governor urged the Group to look into other agro-based investment opportunities such as in the production of Sesame seeds, Soy beans, Poultry and Fishery.

The delegation that centered on deriving foreign direct investment into Agricultural, Mining and Tourism sectors comprised of the commissioner works, housing and land development, Abubakar Tatari Ali, member state house of assembly, director general, Bauchi state investment promotion agency, Muhammad Aminu Musa Kamisu Idi and special adviser/sole administrator, Yankari Game Reserve Engineer Habu Mamman Muhammad.

Others are MD, Bauchi state solid minerals development agency, Muhammad Tahir Isa, GM, Bauchi state agricultural supply company, Kabiru Adamu Sade and members of the business community.

The Governor also led the delegation to key institutions and organiations as well as the famous World Food Expo exhibition with a view to creating a platform for institutional recognition of economic potentials of Bauchi state, one of which was the Hong Kong Trade Development Council, a statutory and nonprofit body established to promote international marketing of Hong Kong-based traders, manufacturers and service providers by organizing trade fairs, business missions and international conferences to connect companies with opportunities in Asia and beyond.

The Governor, in company of the Nigerian Consulate General and his team, Mr. William Chui, Director, International & Mainland Relations and his team, made a sector-based presentation on economic and investment opportunities in Bauchi state ranging from agriculture to solid minerals, tourism as well as Infrastructure.

He also showcased the numerous incentives, reforms on land acquisition law as well as Public Private Partnership policy, all in an effort to ease ways of doing business and sustainable support to investment climate in the State.

At the Hong Kong Tourism Development Company which invited Bauchi state government to take advantage of its trade mission, Foodexpo and its portal to showcase its enormous potentials especially in solid minerals and agriculture, the Governor requested the Hong Kong investors to take advantage of the Bauchi state investment promotion agency being a “One-Stop-Shop on investment processes and establishment for any existing and potential investor”.

The Hong Kong Tourism Development Company pledged to network within it members on the investment opportunities in agriculture and solid mineral in support of the Bauchi state investment drive.

The governor attended the famous World Food Expo exhibition on the invitation of the Hong Kong Tourism Development Company where he invited the Company to attend proposed “Bauchi State Investment Summit” slated for early next year.

He also attended the Africa Chamber of Commerce, a private and non-profit-making organization which remains dedicated to serving members by providing an effective platform for enhancement of trade and investment by moderating between investors and relevant authorities, promoting seminars and trade exhibitions in Africa and Asia, advising on investment and projects, as well as business matching and pitching.

He also showcased the numerous incentives, reforms on land acquisition law as well as PPP policy, all in an effort to ease ways of doing business and sustainable support to investment climate in the core areas of economic and investment opportunities in Bauchi state, especially ranging from agriculture to solid minerals, tourism as well as Infrastructure.

The chairman, Africa Chambers of Commerce, Mr. Mark Chan, who has an investment in Nigeria eco-friendly agrochemicals promised to open up the potentials that exist in Bauchi state to other investors in Hong Kong and mainland China in the area of both agricultural and solid minerals.

Governor Abubakar also had a meeting with a visiting Professor to a number of Universities Dr. Marafa who is a Director Postgraduate Programme in sustainable Tourism in Chinese University of Hong Kong during which discussions dwelt on the tourism sector and key investment needs were detailed out, centering on eco-tourism, Public Private Partnership in operation and management as well as Development of infrastructure in Sumu and Yankari game reserves.

The University don promised to engage the tourism industry captains in Asia and beyond on the investment opportunities in the sector while promising to invite the BASG to Malaysia Tourism Summit coming up next year which he said would be another window of opportunity for Bauchi State Government to showcase its potentials in the tourism sector as well as investment needs

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

Be the first to comment on "Hong Kong Entrepreneurs to Invest in Bauchi"

Leave a comment

Your email address will not be published.


*