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Chinese investors, Osun govt partner to attract huge direct investment

…To eliminate sub-standard imported Chinese products

By Peter Egwuatu

As part of measures to attract huge investment by Chinese investors into the country and boost trade relationship, the Management of China Town in Lagos has begun negotiations with some state governments on ways to attract direct investment.

Reconstruction-Rehabilitation of Gbongan-Iwo-Oyo road in Osun State Gbongan-Iwo

The Chairman, Chinese Investors Association for Development and Promotion and General Manager of China Town, Chief Ronnie Liu, who disclose this during a press tour to the complex in Lagos said that Management of Chinese Town is concerned with the elimination of sub-standard Chinese products imported into the country and has taken steps to eliminate these products into the country.

He said: “We have started negotiations with Osun State government to see how to attract Chinese investors into the state to establish factories here. This will help to eliminate sub-standard products being imported into the country and at the same create employment. As a founder of the Institute of Nigeria China Development Studies at the University of Lagos, we are committed to stay in this country for mutual benefits. We are really concerned with this fake products as that was the major reason why businesses in China Town has declined in recent time.”

Continuing, he said: “We are repositioning the China Town to ensure that only genuine products are supplied and sold. We are committed to develop China Town into an exhibition centre for well known and quality products and a hub for trade, investment, recreation, culture activities and food. Corresponding to the Belt and Road Initiative (BRI), China Town is taking the lead in building the new era of comprehensive cooperation between China and Nigeria. Through cooperation with Nigeria State Governments, we will be able to provide consulting services including finance, taxation, immigration, insurance, etc to Chinese in Nigeria and also to Nigerians for everything which is related to China.”

He noted: “As you can see from this tour, a lot of innovation is going on and I can assure you that in no longer time, China Town will develop into a wholesale mall focusing on middle and high-end market selling and distributing hardware, bathroom ware, building materials, small and medium sized equipment and auto parts that imports from China.

With the support of our political connections and business resources here in Nigeria, China Town will form and train competent sales teams to develop distribution networks in major cities in Nigeria, promptly responding to the demand of clients.”

Commenting on revamping, culture, recreation and food centre, Liu said: “The Chinese schools and libraries in the China Town have been inaugurated and are accepting enrolees. We are working closely with the Confucius Institute at University of Lagos and use their teaching advantages to spread Chinese culture and strengthen relationship between the two countries. There are also hotels, supermarkets and restaurants here. We are determined to turn the China Town into a commercial centre with Chinese characteristics, at the same time covering wholesale markets, leisure, shopping and dining. All brands entering the mall must pass our screening to ensure product quality.”

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