Chinese firm woo investors to Nigeria

Chinese firm, Yongxing Steel Company, has stressed the need for investors to take advantage of Nigeria’s growing economy to invest in the country.

Mr, Frank Wang, Managing Director of the company who stated this at a stakeholders interactive session in Benin on Sunday, said his firm has created 700 direct employment as well as 10,000 indirect jobs.

Represented by the spokesman, Mr, Ben Den, the steel company boss noted that investors who are shying away ftom investing in the country, particularly in the construction industry, will live to regret it in future.

While expressing the firm’s willingness to support the country, he stressed that challenges in the country was not enough reason for investors not to take advantage of its huge population and the growing economy to invest in Nigeria.

“I want to use this opportunity to encourage other foreign investors not to run away from Nigeria. There is no economy that does not have difficulties. Our duty is to support the nation in her efforts to surmount those difficulties.

“Those of us in the construction sector, we need to be more patient with Nigeria. Nigeria is a growing economy and will continue to grow.

“With the huge infrastructural gap in the country, the construction sector will continue to grow and any foreign investor in that sector is not likely to regret at the end,” he stated.

The Managing Director stated that the firm’s waste to wealth programme has created hundreds of employment opportunities while also ensuring a cleaner environment.

According to him, “As many of you are aware, the basic raw materials for our production come from things wgich are otherwise problem in the environment.

“We empower people to gather these waste materials that litter the whole environment, we pay for them, we use technology to recycle them and produce some of the best steel products that are used in the construction industry.

“That way, we are not only creating employment, we are cleaning the environment, and we are contributing immensely to the construction sector which is very vital to a growing economy like Nigeria.”

Wang however attributed the success story of the compnay which stated business in 2013 to the support of stakeholders, particularly the staff and the host community.

“We placed premium on the welfare of our workers just as we have in our own little ways contributed to the development of our host community through Corporate Social Responsibility (CSR).

“As for the staff, we have ensure regular training within and outside the country, provision of shelter, health insurance programme and provision of safety environment to work.

“For the community, we have built markets stores, provision of water and giving out palliative from time to time,” he stated.

Meanwhile, the Enogie (duke) of Ogua, Chief Ogie Aghaghowen, commended the steel company for creating an economy environment and also for ensuring peace in Ogua community.

“Not that we don’t have issues at all, but we have a way of resolving it,” he stated.