27 April 2010

Nigeria: LG Electronics to Invest in Anambra

Lagos — LG Electronics of Korea is set to invest billions of naira in Anambra State in partnership with the State Government. The first phase of the investment, which is the construction of the LG World ANIDS Technical Academy and Electronic Centre was flagged off by the Governor of Anambra State and the President of LG World wide, . JY Lee, represented by Mr. Peter Koo and Charles Asinugo last week.

Speaking at the flag off, Governor Peter Obi said that Anambra State did not need so much speechmaking now, but action. He promised the people of the state that he would not call them for Owambe, but for occasion such as the flag-off of business pact with LG Electronics and other such events that would add value to the society. He promised that Anambra State will fulfill its own obligation in the partnership with LG Electronics.

According to him, similar companies as big as LG were expressing interest in investing in the state and extended the hand of followership to them.

He said, "Anambra has comparative advantage over other states in terms of the vibrancy of the people and existence of ready market."

Also, Chief Executive of LG in Nigeria, Pastor Emmanuel Ileka, said LG was pleased to partner with the state, which he said was driven by the vision of Governor Obi, who has demonstrated through business acumen that states should invest in areas that will be beneficial to the people.

The LG boss said that the centre, when completed, would be used for capacity-building, human capital empowerment and revenue generation.

He disclosed that the academy would train the people of the state on installation, maintenance and repairs of electronics products of different makes. Besides, he said it would be the warehouse through which LG products will be distributed to the East, South South and parts of the West and North.

In his remarks, the State Commissioner for Commerce and Industry, Chima Nwafor, who described the project as a major strand of Anambra Integrated Development Strategy (ANIDS), said the centre was "a joint project of Anambra State Government and LG World Company Limited aimed at building and expanding horizon and capacity of our engineers and technicians in management, trouble-shooting, repair and maintenance of both regular and state-of-the-art electronic with a view to enhancing their marketability, self-development and entrepreneurship.

He disclosed that Anambra State has 30 per cent shareholding in the project while LG has 70 per cent.

The traditional ruler of Awka, Igwe Gibson Nwosu, said the state was undergoing renewal as it now witnessed positive development daily.

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