Government woos Austrian companies for investments

Nigeria’s Envoy to Austria, Amb. Abel Ayoko, on Wednesday said that the Federal Government would redouble its effort at attracting more Austrian companies to take advantage of Nigeria’s investment opportunities. Ayoko told the News Agency of Nigeria (NAN) in Lagos that already, more Austrian businesses and investors were beginning to show interest in Nigeria’s Foreign Direct Investment drive.

"Presently, there are not much Austrian businesses and investment in Nigeria; we need to do more in order to have a win-win situation in our trade and investment relationships. We have, therefore, decided to collaborate with the Austrian Chambers of Commerce and Industry to be able to make more of their companies come to invest and do business in Nigeria,’’ he said.

The envoy, who recently led a delegation of 15 Austrian companies to Nigeria, said that he took the initiative to expose the companies to the existing huge investment opportunities in Nigeria. Ayoko said that some of the companies, who were impressed with Nigeria’s business and investment environment had promised to return to do business in the country soon.

The ambassador said that some of the companies would be interested in investing in the nation’s agriculture, technology, oil and gas, infrastructure, energy and other sectors. In a bid to make these Austrian companies come to invest in this country, I have just brought 15 Austrian companies on a trade mission to Nigeria.

"We brought them to Nigeria for them to see the enormous business and investment opportunities for them in this country. Before this mission, they have always had negative impressions about Nigeria because of Boko Haram and other factors. But their visit has really changed their impressions, and many of them have promised to come back to Nigeria soon with their products and services," he said.

The ambassador, however, said that it was imperative for Nigeria to build a trustworthy and stable political system, and be able to reduce all forms of corruption. He added that it was only a stable government and reliable power supply, less corruption, as well as provision of infrastructure that would attract foreign businesses and investments to the country.