United States Assistant Secretary of State for Economic and Business Matters, Charles Rivkin, has said for Nigeria to attract more foreign investments, it must endeavour to create a business-friendly environment that welcomes outside investment, safeguards intellectual property rights and does not rely on trade barriers.
In addition, Nigeria must deliberately create investor-friendly policies and reforms that will make the country an attractive place to do business.
The envoy stated this yesterday at the opening of a USA small and medium enterprise financing conference, which was put together by the Nigeria-America Chamber of Commerce at the Sheraton Hotel, Abuja.
Rivkin expressed willingness of US companies to invest in Nigeria and its people, noting that the country has much more to offer the world than oil and gas and is capable of competing in the global marketplace.
According to him, given the creativity and intellectual ability and accomplishments of Nigerians in literature, film, music, software development, clothing design, and many other areas, it is clear Nigeria has resources, but it will never be able to fully develop those resources unless they can be turned into bankable assets through effective intellectual property rights protections.
The envoy disclosed that the U.S. government is encouraging the new administration of President Muhammadu Buhari to adopt policies that welcome foreign firms, protect their intellectual property, and allow firms the freedom to use their supply chains as they see fit.
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