Corruption, Lack Of Business Ethics Deter Investments – Osinbajo
Osinbajo, represented by his deputy chief of staff, Mr Ade Aiyeni, while declaring open the second Bayelsa State Investment and Economic Forum with the theme “Unfolding Bayelsa State’s Industrial Future” at the Banquet Hall, Government House in Yenagoa, said that corruption deters investment, and stressed that it is only when government conducts its affairs with transparency, sincerity and openness that genuine investors would show commitment to invest.
Commending the Bayelsa State Government for hosting the second edition of the Investment Forum, he noted that it was a significant indicator of the governor’s commitment to the development of the state.
According to him, “The theme of the programme cannot be more apt both for the state and the entire country, since the industrial sector is the key engine of growth of any economy.”
He said that industrialisation and investment promotion are issues at the heart of the nation’s economic viability, adding that all hands must be on deck to diversify the economy. Osinbajo expressed the readiness of the federal government to assist the state government in the implementation of its industrialisation programme, even as he reiterated the determination of the Buhari administration to the stabilisation of the local economy.
Earlier, the Bayelsa State governor, Henry Seriake Dickson, said that the idea for hosting the forum was inspired by his vision to transform the state into a model of an African economic success.
“That vision stands, and is now even more imperative in view of the recent downturn in the oil and gas sector. More than ever before, it has become necessary for Bayelsa State to diversify its economy and pursue our competitive advantage in agriculture, oil and gas, industrial activity, power generation and manufacturing,” Dickson said.
He urged the participants to take advantage of the state’s enormous potential in oil and gas to invest in power generation as well as in aquaculture and agriculture.
“I am also delighted to unveil at this forum the master plan for the world class 50 hectare Eco-Industrial Park which we seek to build at Gbarantoru. We shall also be unveiling plans for the 220 hectare power generation hub in the state at Gbarain and Deep Sea Port planned for Agge, all in the state,”Dickson added.
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