Wednesday, 11 December 2013

Norway to invest $40bn on trade with African countries

A Norwegian businessman, Mr Svein Jensen, said on Tuesday that Norway had earmarked about 40 billion dollars for investment on trade in Africa.
Jensen, who is the Managing Director of PT Trading Ltd. Norway, made the announcement in a statement given to the News Agency of Nigeria (NAN) in Lagos.
According to him, Norway is controlling the world’s largest investment fund of about 800 billion dollars.
“The Norwegian government is now discussing to invest through our investment fund, around 40 billion dollars in renewable energy, gas, oil, trade and tourism investment in Africa.
“Nigeria could be a good candidate for some of this investment funds due to it business orientation, “ he said.
Jensen urged the Nigerian government to create the enabling environment for foreign investors, noting that security was key to every successful business.
He said that Norway was ready to welcome genuine businessmen from Nigeria and other African countries.
“The idea is for both countries to have a strong business relationship.
“The relationship will provide a platform for discussing challenges that may arise in trade, tourism and investment promotion in both countries.
“Norwegian doors are open for genuine businessmen and women from Nigeria and other African countries,” Jensen said.
Norway invested $700 million (about N108.5 billion) to export fish to Nigeria.
Source: BusinessDay

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