By Alltimepost.com
Edo State has been described as a prime destination for foreign investors due to the business-friendly environment and basic infrastructure needed by investors.
Managing Director of Yongxing Steel Company Limited, Mr. Zheng Changsheng, made this remark on Monday in Benin City when Governor Adams Oshiomhole of Edo State undertook an inspection of the Company’s foundry at Ogua Community in the state capital.
Mr. Zheng Changsheng commended the Edo State Government for providing the enabling environment for them to do business and contribute to the economy of the State.
“We are so grateful for this rare opportunity of your visit to our company and most importantly, for providing the enabling environment for our company to do business.
“Indeed, your visit is worthwhile and without mincing words, we are happy to associate with you and the good work you are doing in the development of Edo State.”
Mr. Changsheng said Yongxing Steel Company, located at Ogua Community, in the Benin Bye-Pass Road, Ikpoba Okha Local Government Area was incorporated as a Limited Liability Company on June 29, 2012, and started production in July, 2013.
According to him, the main object is production and manufacture of Steel products and that the company has provided for hundreds of workers.
The strategic intent of the company, he continued is to be the leading steel manufacturer in the country and that in the realization of this goal, two parcels of land have further been acquired for expansion.
He appealed to Edo State Government to help the company link with CBN for foreign exchange for importation of equipment and sought the administration’s assistance to have the Federal Government prevail on the Benin Electricity Company (BEDC) to reduce the existing tariff on electricity so as to protect the industry.
He promised to continue to attract other foreign and big investors to the State, “just as we have brought ‘Times Ceramics Company’ to show to the rest of the country that Edo State is a prime destination for investment and business without fear of oppression, marginalization or discrimination.”
Responding, Governor Oshiomhole commended the organization for their industry and for living up to his expectation.
“I do recall your visit a few years back, and you had some concerns, and I told you that we would do everything possible to assist you to address those concerns.
“We are very happy that you find Edo State as a home because the whole world is open to investors.
“So, to come to Edo State, it shows, as you said, that we have the right investment environment.
“We have the land, we have the people. They are hard-working, they are industrious.
“They have a traditional ruler who is helping to maintain the peace, and you have everything that you need to assist you as foreigners to feel at home anywhere you live in Edo State.”
Oshiomhole noted that by the company’s operation, it was contributing to the economy of Nigeria and that of Edo State, and providing employment for many of Edo people.
“I like this, and I like to quote what you said here, that Times Ceramics Company ‘is showing to the rest of the country that Edo State is a prime destination for investment and business without fear of oppression, marginalization or discrimination.’ I think this for me is a very good testimonial,” he said.
The Governor pledged his administration’s assistance to the company in any way possible and expressed appreciation over its sense of corporate social responsibility inherent in supporting community initiatives in the state.
