Niger Delta
Bayelsa Faults World Bank 2010 Report
Director-General, Bayelsa
State Investment Promotion Agency (BIPA), Ms Freda Murray-Bruce, says the state’s investment climate has improved since the 2010 World Bank Report.
The report had rated the state as the most difficult place to start investment in the country.
The World Bank report based its assessment on “the inefficient and undue delay in registration of company and employees with relevant authorities as well as clouded tax regime”.
Reacting to the report, the director-general said in Yenagoa on Tuesday that the report did not reflect the current state following the establishment of BIPA over one year ago.
Murray-Bruce said that the current administration in Bayelsa State had since repositioned the state and made it investor-friendly adding that this had resulted in influx of foreign and local investors.
She said, “We may have no problem with this assessment.
“But can categorically say without any fear of contradiction that the 2010 report is an old report and is not a factual and accurate reflection of the exact situation of things in Bayelsa State of 2013.
“Since 2010, and especially since February 2012, a lot of institutional changes for the better have occurred in the business climate in Bayelsa State. This present state of affairs is as a result of proactive measures and business friendly policies of the Hon. Seriake Dickson administration in the state. Conscious of the need to develop the real sector of the economy and provide investment haven in Bayelsa State, Gov. Seriake Dickson, on assumption of office, established the Bayelsa State Investment Promotion Agency,” she added.
She said that this had created a clearing house and one-stop shop for investors.
Murray-Bruce listed the investor-friendly policies to include collaboration with several Federal Government agencies, including Customs, Immigration, Corporate Affairs Commission and Federal Inland Revenue Service.
According to her, the agency has streamlined business documentation and start up processes for investors and is showcasing the investment potential of the state on its website.
She said that staff of BIPA had been trained to offer professional assistance to investors before, during and post investment stages.
rently existing in the state and not “the stale 2010 report of .the World Bank.
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