Begin week-long swing through three states and Abuja on investment drive
A group of Chinese investors and businesses has begun a week long visit in Nigeria to explore trade and investment opportunities, despite the recession and weak Naira which have seen Western investors and firms divesting or reducing their economic stakes.
The visit highlights the growing relationship between Nigeria and China which was strengthened with President Muhammadu Buhari’s visit to China in April.
Agreements running into billions of Yuan in direct investment inflow are to be inked during the visit for the establishment of enterprises which will create employment for thousands of Nigerians.
The delegation’s meetings with government officials and private sector leaders begin in Abuja this morning, before swinging to Lagos, Enugu, and Anambra states in the rest of the week.
The 20-strong team is from the Overseas Investment Union of China (OIUC), an association of Chinese investors and businesses with interest in creating clear, secure and predictable ways of developing international business.
Companies represented cut across China’s public and private sector entities engaged in civil and construction engineering, financial services, health, steel, manufacturing, and other economic sectors.
OIUC president, Ms. Liu Xiong ying, is leading the delegation which includes Mr. Huang Zhao Jin, the union’s executive president., Mr. Feng Yuan Song, President, Taizhou Far East Paper Co., Mr. Sam Sun, Deputy President, Asia Development & Investment Bank Ltd., and Mr. Zhang Jiantao, Chairman of the Board, Zhengzhou East Drilling Additive Co., Ltd.
Others are Datuk Seri Dr. Edwen Yew Kien Cheong, President, Biotech Stemcell Berhad., Mr. Guo Ze Lin, chairman, Shenzhen Jiecheng Energy & Technology Co., Ms. Wen Ying Ying, Vice President, Beijing Yunhe Aixin Culture Media Co., and Ms. Tian Wen Hui, Translator.
Specialising in foreign investments, professional networking and market consulting, members of the OIUC provide long term strategic relationships, and cooperation opportunities for both Chinese and foreign investments. The OIUC also provides professional and efficient services for Chinese entrepreneurs overseas and foreign business development in China, while also enhancing business communication and fair trade.
According to a schedule released by Mr. Christian Udekwe, chairman of BusinessinNigeria Events (BINEL), organizers of the visit, the delegation will meet today in Abuja with the ministers in charge of Finance, Foreign Affairs, Trade & Investment, Solid Minerals/Power, and Federal Capital Territory, as well as with private sector leaders and the Nigeria Investment Promotion Commission.
The Chinese investors will discuss with Lagos State governor, Mr. Akinwunmi Ambode, and business elite in Lagos tomorrow. They will tour the Lekki Free Trade Zone and Eko Atlantic City Wednesday morning before networking with business leaders to gain more insight into Nigeria’s economic challenges and opportunities in the afternoon.
Governor Ifeanyi Ugwuanyi of Enugu State will host the investors on Thursday together with selected local industrialists during which discussions will focus on the Guangzhou, China – Enugu air route, and major investment opportunities in the state, with the delegation also visiting the ENPOWER Free Trade Zone.
Anambra State will round up the visit when Governor Willy Obiano welcomes the Chinese investors on Friday. As in Lagos and Enugu, the Chinese delegation will meet with selected Anambra business leaders and also assess investment opportunities in the state.
Some of the Chinese firms represented in the delegation include Anhui Construction Engineering Group, Kangmei Healthcare Cloud Service Co., Rizhao Grolen New Building Materials Co., China Metallurgical Group Corporation, Hangxiao Steel Structure Co., Beijing Investment Co., and Taizhou Far East Paper Co.
Anhui Construction Engineering Group Co. (ACEG), a general construction engineering contractor, is recognized in China as a National Supreme Contractor. ACEG is ranked among the top 500 Chinese companies and 168th among the top 225 International Contractors listed by the influential US magazine – Engineering News – Record in 2009. Currently ranked 67th globally, ACEG has businesses in more than 30 countries and dozens of projects completed worldwide. It is noted for architectural science research, consultancy, supervision, and design, and real-estate, construction of road, bridge, tunnel, quay, sea-lane, and urban infrastructure, as well as environment protection, among others.
Kangmei Healthcare Cloud Service Co. delivers and coordinates healthcare through internet, mobile, and wearable technologies. It is a subsidiary of Kangmei Pharmaceutical Co., which is primarily engaged in the manufacture and sale of pharmaceutical products including Chinese herbal medicine and chemical drugs, as well as medical devices.
Kangmei Healthcare Cloud has built its core capabilities around providing integrated solutions for the healthcare and senior services industry. The company’s cloud-based platforms let doctors manage their patients more efficiently and reach into more communities. The mobile tools empower the patients to seek care and advices from experts around the globe. Cloud based data analyses enables virtual care coordination and chronic disease management.
Rizhao Grolen New Building Materials Co. has been engaged in the production of concrete admixture since 1998. It is an international market leader in series concrete water reducing agent, air-entraining agent, antifreeze, and other products. Its partners include China Railways, Rizhao Steel Holding Company and China State Construction Company.
China Metallurgical Group Corporation (MCC), a state-owned enterprise headquartered in Beijing, is engaged in EPC (engineering, procurement and construction), natural resources exploitation, papermaking, equipment fabrication, real estate development. MCC is one of the largest equipment manufacturers in China, and the only state-owned enterprise that is authorized to run pulp-making and papermaking businesses in China and overseas.
The company is involved in the construction of metallurgical, infrastructural facilities, other industrial projects, housing construction, municipal utility construction, installation of electrical and mechanical works, and handles high-rise buildings, mechanical engineering, electronics, power supply, petroleum, chemistry, textiles, transportation, communication, and building materials construction projects.
The company also provides geo-technical engineering construction, industrial and civil construction, rock and earthwork excavation, equipment installation, and steel structure fabrication and installation services; and industrial products, including spiral welded pipes of various bore sizes, non-standard equipment, cold-rolled deformed bars, and forged precision metallic equipment. It also engages in water supply projects, sport cities development, and resource development. The company manufactures spiral coasters, and single-stand reversible cold-roll lines.
Hangxiao Steel Structure Co., formerly Zhejiang Hangxiao Steel Structure Co., is principally engaged in design, manufacture and installation of steel structure engineering. The company provides lightweight steel structure products, multi- and high-floor steel structure products, space structure products, construction materials. Hangxiao also engages in the sale of real estate and property management. It distributes its products in domestic and overseas markets.
Hangxiao Steel Structure is a professional steel building contractor/subcontractor. It is a specialist in design, manufacture and installation of steel buildings. Hangxiao is the first steel structure company listed on the Shangai stock exchange, and supplies welded steel column, steel beam, steel truss, steel floor deck, steel purling, etc. Its processing capacity of structural steel components amounts to 600, 000 tons annually.
Beijing Investment Co. is a professional investment platform for the Capital Group’s financial sector. Its focus is on venture capital., fund management., mergers and acquisitions., and reorganization of non-listed companies. It has strategic partners at home and abroad and has formed a complete capital market operation system in China.
Taizhou Far East Paper Co., established in 1987, is a specialized manufacturer of sanitary products, including sanitary napkin, panty liners, baby and adult diapers, and pet pad. Its proximity to Shanghai and convenient transportation has brought the company more opportunities and competitive advantages in both domestic and external markets, including Japan, the United States, Europe, and Southeast Asia.