Glisa Targets FDI Growth, Social Devt

The organisers of the Global Leaders Investment Summit, Glisa, Arise O Nigeria Empowerment Initiative, has informed that the summit would drive social development, boost Foreign Direct Investment, FDI and contribute to wealth creation.

This was disclosed at a media briefing held in Abuja recently as part of preparations for the event.

The summit, which was co- initiated by International Peace Commission and the Ministry of Industry, Trade and Investment, would hold in Canada between 16 to 18th October, 2019, and would also feature a Sustainable Development Goals Awards.

Reiterating the summit’s objectives, Permanent Secretary of the Ministry, Edet Akpan, explained that the summit was in commemoration of the United Nations Day for Poverty Eradication and pursuance of federal government’ efforts to realise the SDGs towards economic growth.

He said: “Up till date, the present administration has implemented several reforms to make it easy to do business in Nigeria.

The reforms so far implemented in the sector have caused Nigeria to move 25 steps upwards in the World Bank Ease of Doing Business between 2016 and 2018.

“To ensure the attraction of investment that speaks to our SDGs , government reviewed model used for the negotiation of investment promotion and protection agreement to balance investors’ rights, obligation and increase comfort.’’

He further added that before now, foreign direct investment inflow in Nigeria was obstructed by minimum capital requirements, which prompted government to remove restrictions of foreign ownership of business in Nigeria.