Official Website Of The Governor Of Akwa Ibom State
INVESTMENT, COMMERCE AND INDUSTRY
Investment and commerce are major contributors to economic growth and development. Inputs, investments and commerce fuel economic growth; while outputs/outcomes, the volume of investment and commerce are significant indices of economic development. The major aspect of the State’s interest in investment and commerce are in agriculture, manufacturing, construction, real estates, mining, energy, and services. As a major policy framework, the State has put measures in place to encourage major conglomerates, core investors and professional service providers (banks/finance houses and servicing companies for major multi-nationals) to create regional/zonal offices and major production/distribution hubs in the State. This has created jobs for the teeming youths of the State, and the citizenry across the value chain. The Industrialization drive of the Udom Emmanuel led Administration has yielded fruits in the number of jobs and wealth created via the Syringe manufacturing factory (largest in Africa), Metering Factory, Pencil Factory, Toothpick factory, the Resuscitation of Peacock paint industry,Fertilizer blending factory, Plastic Manufacturing Factory, Flour Mill, Coconut Refinery etc. As part of activities marking the 31st anniversary, Governor Emmanuel inaugurated the AKEES Industrial Park in Itam, Itu Local Govt. Area. The Park houses the Pencil Factory, Paper Factory, Plastic Factory, Toothpick Factory, Bamboo Pulp/Artisan Training Centre, a Standard Show Room and more to come.
Government will provide funding for the following activities to consolidate on the gains achieved so far: design and development of Industrial Estates/Parks including the upgrading of facilities in Uyo phase 2 industrial park; organization of export awareness campaign/export forum in a bid to promote non-oil export to de-emphasize dependence on oil for foreign exchange: industrial promotion programmes in collaboration with relevant agencies and private investors to identify and establish at least 3 new industries by December, 2019: organization of business education and development programmes to encourage entrepreneurial development in the state; participation in both state, National and international trade fairs; promotion of MSME’s development programmes: encouragement of industrial research and inspectorate service to facilitate the development of enabling laws and legislation of industries.