Business Hilights
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Wike, Korean investors reach deal on 10,000 hectares for commercial farming, jobs

Rivers State Governor, Nyesom Ezenwo Wike on Saturday sealed a new mechanized agro farming deal in Rivers State that will seat on a 10,000 hectres of land with Korean Agro investors.

In his remarks during a courtesy visit by the Korean investors in agriculture at the Government House, Port Harcourt, Governor Wike said that the administration places premium on agriculture and the latest Memorandum of Understanding will create job for not less than 2,000 Rivers citizens.

He said agriculture will be developed by the State Government in liaison with private investors to create jobs across the state.

While assuring the Korean investors that the State Government will create an enabling environment for their company to thrive, averred that a certificate of occupancy will be processed for the 10,000 hectares to be used by the company as soon as possible.

According to him, “Our priority is how to attract investors to the state. Agriculture if well harnessed will be highest employer of labour after government.  That is what we are trying to do”.

A statement issued by the Special Assistant to the Rivers State Governor, Electronic Media, Simeon Nwakaudu quoted the Governor as saying that “Rice production is very key to food security. Ours is to make sure that the right environment is created for foreign investors to bring their funds to the state.

The governor directed that details of further involvement of the State Government in the investment be worked out by the Commissioner of Agriculture, Commissioner of Commerce and the Attorney General of Rivers State in liaison with the investors.

In his remarks, Managing Director of Chang B2B Company Limited and Leader of Delegation, Mr Kim Kyochang assured that the company will invest in rice production in Emohua Local Government Area.

He said that over the last 50 years, South Korea has witnessed massive development, noting that his company like others has committed themselves to investments outside South Korea.

Business Hilights gathered that Wike administration has developed a framework to promote foreign direct investments in the state, especially in the agricultural sector where a flexible land acquisition scheme has been entrenched.