Taiwanese chambers woo more investors to Nigeria

The Taiwanese Chambers of Commerce in Nigeria has pledged to attract more investors from Taiwan to Nigeria to further deepen the long-standing relationship between both countries.

President, TCCN, Shu Fang Okorie, who stated this at the just concluded Abuja International Trade Fair, noted that already over 55 Taiwanese registered companies were contributing to the development of the Nigerian economy.

She told our correspondent that the contributions were through the establishment of manufacturing and assembling companies in Nigeria, which had led to job creation across the country.

“We have about 55 registered members of Taiwanese companies in Nigeria that are doing well by creating jobs for Nigerians and supporting economic development,” Okorie stated.

She added, “We have companies involved in the assembling of household products, motorcycles, solar panels, distribution of Taiwan-made tyres and a lot more.”

Asked if the chamber was assisting in attracting investments to Nigeria, she replied, “Of course, this is because Taiwanese investors believe we are here, we know the culture and opportunities and so they come in to invest.

“We also work with the African association in Taiwan. When they need information about Nigeria, we provide it to them. So we are bringing in investors to Nigeria through this chamber.”

The TCCN president stated that Taiwanese investors in Nigeria were currently expanding their portfolios in the manufacturing sector, adding that this would be enhanced if raw materials were accessible with ease.

Okorie said, “Nigeria is growing and the people are smart. So just carrying out buying and selling is no more fashionable, rather manufacturing is what every shrewd businessman should try to do.

“However, manufacturing of goods will thrive better when you can access raw materials without so much stress. Although we get about 70 per cent of our raw materials from Nigeria, we don’t mind getting 100 per cent here.”

She explained that the Taiwanese Chamber of Commerce started operations in Nigeria in 2016.

“Before that year, we were operating individually as companies without an association, but we realised that we should work as a team to help each other,” she stated.