13 November 2007
FCT — Nigeria's potentials would be exposed to the world this week in Kuala Lumpur, Malaysia, at the First Nigeria-Malaysia Business and Investment Forum.
The Forum is organised by the Nigerian Investment Promotion Commission (NIPC), in collaboration with Malaysian Industrial Development Agency (MIDA).
NIPC Director, Investment Promotion Department, Mr Soji Adesugba, said the Forum would be an opportunity for the country to "showcase Nigeria's abundant investment potentials with a view to stimulating and encouraging investment in the country for growth and development.
Adesugba said the Forum became necessary, especially for the fact that the existing long-term relationship with Malaysia, occasioned by similarities in history, climate and culture was not recorded in economic terms.He noted that there are less than five Malaysian companies in the country.
"This is in spite of the fact that Malaysia is said to have acquired its palm kernel seeds from Nigeria in the 1960s, which it developed to make it the leading palm oil producers in the world today," he said.
He listed the objective of the Forum to include: "Create awareness on Nigeria's investment climate and opportunities in Malaysia; project the country's investment opportunities at the doorstep of potential investors in Malaysia; follow up on indication of interest in investment highlighted during trade and investment missions to Nigeria; provide platform for the public and private sectors of the two countries to meet first hand with a view to a sustained economic relation; and ultimately attract foreign direct investment into Nigeria."
The event, which is being sponsored by Fidelity Bank Plc, is expected to be attended by public and private institutions wishing to promote their businesses in Malaysia, as well as public and private that may wish to have a business relationship with Malaysians.
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