Apparently determined to improve regional integration, foreign trade and to stimulate economic growth, Ondo State government through the Ministry of Regional Integration and Diaspora Relations has featured in the 23rd China International Fair for Investment and Trade.
According to the Commissioner for Regional Integration and Diaspora Relations, Prince Boye Ologbese, the event, which was organized by the International Economic Co-operation Centre, Fujian Province at the Xiamen National Accounting Institute with the theme: Economic and Trade Co-operation for the “Belt and Road” Countries, was majorly to support developing countries in attaining full potentials in economic growth.
The Commissioner, while presenting the vision of Ondo State government, said Governor Oluwarotimi Akeredolu was enthralled about the practice of sustainable development which is why the state has proposed to establish a Diaspora Smart City in Akure, the state capital.
He said: “We bear in mind a larger perception to build a tourism hub of world class standard to serve the southern states; It will be used to market and develop all the tourism potentials of the state both Public and Private”.
Ologbese, who established the intention of the state government said: “The Governor wants to put a legacy of diversifying the economy in the context of a tourism industry of global standard, especially when Ondo Deep Seaport starts functioning; it would be an effective promotion of Diaspora Direct Investment (DDI) initiative, thus driving a robust economy for the state, which will set the entire region in a position of competitive economic growth, a mini Dubai in Akure”.
According to him, Xiamen National Institute conceded that the concept of a Diaspora Smart City in Akure, Ondo State is highly commendable and is in line with Environmental, Social and Corporate Government Investment (ESG) and Green Economy Investment (GEI) through Private Public Partnership (PPP) arrangement that must be managed by a reputable organization to achieve its core values and objectives.
The Commissioner, stressed that Integrity, accessible information, effective security network and proper legal framework under the current administration had helped the state attract investors.
“One of our success stories is in our industrial hub in Ore, Chinese companies are managing their business with the maximum cooperation of the host community; Ondo State is the investment destination for quick returns on investment”, he added.
Earlier, Deputy Director, Research Centre for “Belt and Road” Financial and Economic Development, Xiamen National Accounting Institute, Wang Zhixuan, said the fair has enabled China to share developmental experiences with African countries and the outcome would accelerate International co-operation and improve connectivity with participating countries.
Wang Zhixuan noted that China strongly believes in credibility and Ondo State has what it takes to stimulate partnership for infrastructural development and improved global trade opportunities on a transcontinental scale.