A cross section of Swiss investors operating in Nigeria on Tuesday commended the Federal Government for creating a sound investment environment which they said has continued to attract investment into the country.
They stated this in an interview at the 2018 Nigeria Business and Investment Forum holding in Bern.
Mr Jacques Piekarski, Managing Director of the Lagos based Swiss-African Business Council said that incentives like tax holiday, subsidies, partnership with government agencies and capital repatriation are investment enabling laws that have boosted investors confidence.
“This is a positive development as in the past investors were concern about doing everything themselves”
“ An Investment friendly environment is not only beneficial to investors but also a source of employment generation to Nigerians”
Pierkaski expressed the hope that the incentive would continue to be in place irrespective of a change in government, noting that Investors have a long time vision.
“ We hope that there will be continuity and stability in government policies . Investors wants assurance on the protection of their businesses”
Similarly, Mr Luzius Caviezel , Head of Syngenta North West Africa, commended government for its legislative framework on Investment.
“Nigeria is a strategic country for us, we believe in its future as it is opened to technology and innovation”
“ We are encouraged by government’s support especially in rice farming through government’s intervention we have received positive response from our partners – that’s the local farmers “
“Local experience with international experience gives a winning solution at the end, the farmers should be the beneficiaries” Caviezal said.
While welcoming participants to the forum, Amb. Baba Madugu, Nigeria Ambassador to Switzerland expressed government ‘s commitment to the diversification of the economy.
Madugu listed agriculture, Mines, Power , Infrastructure and Transport as areas needing Investment .
“Our huge human and natural resources are not just an investor’s dream but investor’s paradise.
“The return on Investment in the country is huge and impediment to profit repatriation is non- existent “
He said Nigeria was the gateway to the West African market and as an investor operating in the country, they will also have unhindered access to the 15 member countries of ECOWAS within the strategic framework of free market and movement.
In the same vein, Ms Karin Buchel, Head of Switzerland’s Free Trade Agreement Unit said that the current trade volume between both nations was $750 million(US dollars).
Buchel said that the figure represented a 50 per cent increase over previous years, while noting that over 50 Swiss companies were operating in various sectors in Nigeria.
Others who spoke are the forum included Hon. Abubakar Bwari, Minister of Mines and Steel Development and the representatives of Bauchi and Enugu state governments.
Bwari who spoke on the economic potentials abound in the solid mineral’s sector , explained that existing legal and institutional framework had turned the nation into an investor’s haven.
The two-day event with the theme “Nigeria: The Investors Haven” was jointly organised by the Nigeria Embassy and Nigerians in Diaspora Organisation (NIDO)Switzerland.
Participants include the nation’s envoy to Germany, France, Italy and Austria . Others are NIDO Swiss members and investors from both nations
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