To improve regional integration, foreign trade and stimulate economic growth, Ondo State Government, through the Ministry of Regional Integration and Diaspora Relations, has participated in the 23rd China International Fair for Investment and Trade.
Commissioner for Regional Integration and Diaspora Relations, Prince Boye Ologbese, said the event, which was organised by the International Economic Cooperation Centre, Fujian Province, at the Xiamen National Accounting Institute, was to support developing countries to attain full potential in economic growth.
A statement by the Media Officer of the ministry, Debbie Funmilayo, said the theme of the fair was ‘Economic and Trade Cooperation for the Belt and Road.’
Presenting the vision of the Ondo State Government, Ologbese said Governor Oluwarotimi Akeredolu was enthralled about the practice of sustainable development, which was why the state had proposed to establish a Diaspora Smart City in Akure, the capital.
He said: “We bear in mind a larger perception to build a tourism hub of world-class standard to serve the southern states. It will be used to market and develop the tourism potential of the state, both public and private.”
Ologbese added: “Governor Akeredolu wants to put a legacy of diversifying the economy in the context of a tourism industry of global standard, especially when Ondo deep seaport starts functioning. It will be an effective promotion of Diaspora Direct Investment (DDI) initiative, thus driving a robust economy for the state, which will set the region in a position of competitive economic growth, a mini Dubai in Akure.”
Xiamen National Institute
He said Xiamen National Institute conceded that the concept of a Diaspora Smart City in Akure, Ondo State was commendable and in line with Environmental, Social and Corporate Government Investment (ESG) and Green Economy Investment (GEI) through Private Public Partnership (PPP) arrangement that must be managed by a reputable organisation to achieve its core values and objectives.
The commissioner said integrity, accessible information, effective security network and proper legal framework under the current administration had helped the state to attract investors.
“One of our success stories is in our industrial hub in Ore. Chinese companies are managing their business with the maximum cooperation of the host community. Ondo State is the investment destination for quick returns on investment,” he added.
The Deputy Director, Research Centre for Belt and Road Financial and Economic Development, Xiamen National Accounting Institute, Wang Zhixuan, said the fair had enabled China to share developmental experience with African countries and the outcome would accelerate international cooperation and improve connectivity with participating countries.
Zhixuan said China believes in credibility and Ondo State has what it takes to stimulate partnership for infrastructural development and improved global trade opportunities on a transcontinental scale.
Credit: thenationonlineng.net
