How Nigeria can attract foreign investors –US envoy

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.