Chinese Firm To Invest In Imo State

.As President Buhari Cautions State Governors To Run Background Check On Investors.

OKOROCHA WITH CHINESE INVESTORS

Chinese Company, Skyrun has signed a Memorandum of Understanding with the Imo State Government to take over the site at Aboh Mbaise local Government Area for the production of electronics and electrical materials
Imo State Governor, Rochas Okorocha announced the state government partnership with the firm when a delegation of Chinese Investors called on him at Government House, Owerri.

This is coming barely 24 hours President Muhammadu Buhari cautioned State governments and the private sector against engaging foreign partners without conducting proper background checks.

Buhari gave the advice in a message at the opening of the maiden Kaduna Economic and Investment Summit organized by the Kaduna State Government in Kaduna.

The president speech was delivered by the Governor Nasir Al Rufai.

Governor Okorocha thanked the Chinese delegation for choosing Imo State for investment, promising that the State will give them all the necessary assistance.

“We shall support you, encourage you and provide all you need to make your investment programme easy. He continued “while you try to make profits from your investments, we implore you to create jobs for our teeming youths who will be ready and willing to protect your investment.

Okorocha promised that the government will help any company willing to invest with fast tracking the process of registration, immigration, customs, office accommodation, transportation.

He enjoined the Chinese companies to take advantage of the situation and invest speedily in the State.
Leader of the group and general manager of Skyrun, Mr. Guxin said the company has started production of prepaid meters, cables, and electronics in the State and will soon commence work on the Imo/Skyrun refinery which an MOU has already been signed with the Imo State government.

President Buhari in Kaduna said in Kaduna that he is pleased with the efforts with State governments to diversify their economy and make it open for investors.

The President said "In the face of dwindling oil revenue, I am very pleased to note the efforts being made by state governments to diversify their internally generated revenue sources by opening up their economy for investors and providing a conducive enabling environment. 

“More recently, these efforts have been demonstrated not with mere rhetoric or political statements, but with practical policies and well thought out legislation