Owerri Chamber of Commerce, Industry, Mines and Agriculture (OCCIMA), established in 1986 with the objectives of articulating business interest in the core Igbo states and environs, has opened up on investment opportunities that abound in Imo State, with a view that members and non-members would tap on them.
The gesture is in line with its services to its company members, and also to act as the mouthpiece of the organized private sector (OPS) in the state.
The president, Igwe Christian, said the essence of letting members and none members know about the various investment opportunities abound was also in line with its role to speak on matters that may help members in the smooth running of the business and to diversify if necessary.
He called on those who have not registered with OCCIMA to come and do so as the chamber is the key driver of economic activities in the state.
Imo State, which is an attractive investment centre for agricultural, manufacturing, telecommunications, oil and gas exploitations, among others, occupies a strategic location; as it can be reached from major business towns in the South East and South-South geopolitical zones.
For example, Owerri, the capital, is accessed within one hour drive from Aba, Umuahia, Onitsha and about one and hours from Port Harcourt, and about two-and-a-half hours from Enugu.
Some of the investment opportunities available for both local and international investors include agro-based and agro-allied industries, chemical (petrochemical) industries, non-metallic mineral-based industries. Others include engineering/metallic industries, tourism, among others.
As the economic recession continues to hit hard on Africa’s largest economy with Gross Domestic Product (GPD) at $415.08 billion according to the International Monetary Fund (IMF), Igwe said, “this is the time for investors to come into OCCIMA to keep abreast of investment opportunities, options and diversification.”
On the investment on agro-based industries like integrated palm product processing, the project he said would utilise palm oil and palm kernel in the production of palm oil and extraction of palm kernel oil for further industrial uses.
According to Igwe, this will also generate other downstream industries in the areas of soap making and detergents, cosmetics, margarines and pharmaceuticals.
Also Imo state has many streams, rivers and the Oguta Lake which can support investment in fisheries and an investor can also build his commercial fishing ponds because there is an already market for it.
Still on agro-allied products, an investor can invest in maize processing because maize is groom in all the 27 local government areas of Imo state.
Maize processing industries can be used to manufacture glucose, brewers’ grit, gem cakes, gluten, semolina, fine flour, steeping residue etc, the OCCIMA president said.
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