RSG Plans Industrial Park To Boost Business

The Rivers State Government has disclosed plans to build an industrial park as part of effort to encourage small and medium scale enterprises.

The Rivers State Commissioner for Commerce and Industry, Chukwuma Chinye stated this yesterday during the official opening of the 7th Port Harcourt International Trade Fair organised by the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA), at the Isaac Boro Park, Port Harcourt.

The commissioner who represented the state governor, Rt. Hon. Chibuike Amaechi said the industrial park would be designed to house cluster of business enterprises, noting that small and medium scale ventures accounted for about 70 per cent of the state economy. He posited that government was ensuring that enabling environment was created to encourage investors, as well as positive incentives to boost investments in the state.

According to him, part of the incentives include the setting up of committee to harmonise all the multiple taxations and formalise the tax regime through enacting an enabling law.

He also assured to sustain the level of security in the state and improvement on steady power generation before the end of next year.

Earlier, in his address, the PHCCIMA President, Engr Vincent Adonye Furo, said that the 7th Port Harcourt Trade Fair, with the theme, “Advancing New Prospects for SME Growth and Economic Development in Rivers State,” would open up new vistas for potential businesses, contacts and investment opportunities with companies based in the state, while affording investors the opportunity to showcase their products and services to the open market.

According to him, “our projection for this year’s fair would be 400 exhibitors representing 30 per cent increase from last year’s fair and is expected to feature reputable international, national and local exhibitors, including the 23 local government areas of the state.”

In a goodwill message, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), represented by Azuka Alagwu, appealed that governments at all levels should exercise fiscal discipline in implementing yearly budgets, with priority attention on infrastructural development and provision of incentives to support exports and business growth.

Also, Engr Maurice, the Managing Director of Total E & P, the major sponsor of the Trade Fair, said the synergy between Total and PHCCIMA is geared towards boosting business growth in the state, wishing participants to avail themselves of opportunity to showcase their products and promote the activities of the fair.