Vietnamese companies seek favourable investment environment in Nigeria

Vietnamese companies, whose investment interest in Nigeria is growing by the day, have called on the Federal Government to create a more conducive investment environment for them across Nigeria. Oye Akinsemoyin, President of the Nigeria-Vietnam Chamber of
Commerce and Industry (NVCCI) told the News Agency of Nigeria in Lagos on Thursday that the companies were becoming more interested in Nigeria.Akinsemoyin said that the NVCCI’s participation in the just-concluded 14th Vietnam Trade Expo in Saigon, Vietnam, had offered the needed opportunity for the Vietnamese to interact with Nigerians on more possible investment areas.“During our visit and participation in this last Vietnam Trade Expo, we made contacts with a number of Vietnamese investors who have
expressed their willingness to come to Nigeria.

“We have made contacts with Vietnamese who are very willing to come and set up rice milling factories, cashew-nut processing plants and
plants for environmental pollution and pest control in Nigeria.

“But, what they want from the Nigerian government is the right environment for them to come and set up their factories and plants in
Nigeria,’’ he said.

Akinsemoyin said that the Vietnamese companies would want to know how favourable the registration of their companies in Nigeria, her tax regime and how the investment laws would be to them.

The NVCCI president said that it was imperative for Nigeria to evolve ways of creating the enabling environment for more foreign direct
investment into the country.

“The Nigerian Government needs to begin to provide a more enabling environment for the current investment posture being indicated by these Vietnamese investors.

“It is very important that the Nigerian Government provides them with the required enabling environment, because these investments have the potential of maturing into positive things for Nigeria,’’ he added.
Akinsemoyin also expressed optimism that their investments in Nigeria, would create employment opportunities for young Nigerians, as well as help in growing Nigeria’s economy.