Calabar – Cross River Governor, Prince Bassey Otu, has urged potential investors to seize the opportunity presented by the state’s unique advantages and invest in various sectors of its economy. The call was made during the maiden edition of the International Cooperation and Investment Summit (ICIS) held at the Calabar International Convention Centre, Calabar, the state capital NEGROIDHAVEN can report.
Governor Otu emphasised the importance of the event, stating that it was a strategic initiative by the current administration to stimulate growth and development across multiple sectors of the state through the infusion of foreign direct investments.
‘Cross River, with its extensive Free Trade Zone, negligible crime rate, and welcoming local community, offers an incredibly conducive environment for investment,’ said the governor.
He highlighted that the state holds a competitive edge over others in agriculture, mining, renewable energy, tourism, and transport sectors, among others. The state’s commitment to environmental preservation and protection, particularly within its vast forest reserves, was also emphasised.
Governor Otu underlined that despite having the country’s largest forest reserve, the state intends to further boost its forest resources by increasing existing reserves by 50 percent in the coming years. He also pointed out the ongoing efforts in tree planting and the allocation of arable land for agricultural expansion to ensure food security.
Speaking on agro-allied industries, Governor Otu mentioned the introduction of the small holders scheme for cocoa production, enabling locals to cultivate allocated cocoa estates. He also invited investors to engage in various ventures such as the upgrade of the Obudu Ranch Resort, mining downstream activities, and the establishment of more agro-allied industries to combat post-harvest waste.
The governor stressed the importance of responsible environmental and corporate governance in all investment endeavors.
In his keynote address, the CEO of Access Holdings, Mr. Herbert Wigwe, represented by Mr. Victor Eteku, encouraged collaboration between the state government and private entities. He also advocated for the growth of medical tourism and the establishment of a world-class educational institution within the state.
The event was organised with a focus on presenting viable investment opportunities, fostering economic relationships, and addressing key challenges that could impact economic growth. The summit aimed to expand horizons, promote cooperation, and explore strategies for long-term investments that will contribute to the state’s development.
