By Obinna Ogbonnaya Abakaliki
The Ebonyi State Governor Chief David Umahi has said that the state investment protection law put in place by his administration is to ensure that future government policies does not affect investors coming to the state.
Governor Umahi who attributed the poor investment opportunities in the state to change in government policies noted that his administration has in motion a conducive environment for investors to come into the state and tap from the programs and policies of the state government.
Governor Umahi made the disclosure during a parley with members of the Ebonyi State National Assembly, captains of industry and other indigenes of the State resident in Abuja.
Governor Umahi who encouraged Ebonyi people to come home and invest in the state stated that the state government currently has N3b facility from Zenith bank which the people could access.
According to him; “We are seeking for Ebonyi people that would come up with their proposals, what they want to do and in partnership with bank of industry. With the 3b available, we intend to grow it to 6b”.
“We intend to look for banks that would look at the proposal made by our people and then we will be able to give them the soft lone and then monitor their progress. We have monitored the Agric loan we gave and that of the empowerment and we are so encouraged”.
“We are encouraging big investors and because of that we have to put in place investment protection law. The aim is to protect those coming to the state to invest. Government policies must not continue to frustrate investment”.
“We expect that when an investor comes to the state and invest, and he puts down his investment in the state, our law intends to ensure the protection of such investment even when another administration comes up with a different policy”.
“One of the reasons why people don’t invest is because government policies frustrate investors. When one government comes and goes and another one comes, policies will change. We are an investment friendly state and to ensure we protect our investors from future government policies we sat down and thought out what to do”.
“What we did was to come up with a law and the law is such that if you come up with investment we will access your investment portfolio and then we enter into MOU and then give you ISPO so if at anytime any government changes the policy that would affect your investment and you start losing your money, you will collect that investment from the federation account”.
Governor Umahi urge the people to come to the state and invest in agriculture, the upcoming Ebonyi mall, the housing project and the international market adding that such investment would build the economic base of the state.
Governor Umahi who commended the people for their support and encouragement towards his administration called for continued peace and Unity in the state adding that one of his landmark achievement was the return of peace to the people of Ezza/Ezillo.
He noted that his administration would not leave any project uncompleted adding that the State Airport project is on course and would be completed before the end of his administration.
Earlier, the Former Secretary to the Government of the Federation, Senator Anyim Pius Anyim commended the state Governor for bringing the people together to and called for unity of purpose.
He urged the state Governor to ensure that such parley holds regular to enable those residing outside the state to be abreast with government policies and programs. Ends.