The Rivers State Investment Promotion Agency (RSIPA) has reaffirmed its commitment to enhancing the ease of doing business and improving the operating environment for investors in the state.
Speaking during the agency’s maiden stakeholders’ engagement session at the Government House in Port Harcourt, Director-General Dr. Chamberlain Peterside explained that RSIPA is working collaboratively with government ministries, departments, and agencies (MDAs) to achieve this goal.
Dr. Peterside stated that the agency, as part of its investment management function, will facilitate, complement, and coordinate activities of the various MDAs and other critical players in the business environment.
The integrated approach according to him aimed to ensure that businesses operate successfully in the state.
To facilitate investment, Peterside said RSIPA has established an integrated one-stop-shop platform, noting that the platform enables potential investors to access valuable information and opportunities across various sectors of the state’s economy.
According to Dr. Peterside, this initiative will streamline processes and provide a single point of contact for investors.
The platform is expected to increase investor confidence and attract more businesses to the state, driving economic growth, job creation, and improved living standards for residents.
He said the agency’s efforts align with Governor Siminalayi Fubara’s vision to make Rivers State the premier investment destination in the country.
By enhancing the business environment, he noted, that the state aim to unlock its economic potential and become a hub for entrepreneurship and innovation.
He said, “The first step to that collaboration is what we just had today: Stakeholders’ engagement where we brought multisectoral interests to sit with us, speak to us, express their views and discuss how we can partner to advance investments because there is a tendency for any entity to have the impression that the agency is here to take away their business.
“We are here to compliment, co-ordinate and make sure that the MDAs and other key entities are more successful in what they do. Not all of the MDAs have interface with anything that has to do with investment but ministries that are in the frontline like Ministries of Lands, Commerce and Industry, Transport, even Ministries of Youth Development, and Women Affairs, as long as there is an angle that has to do with investment promotion, skill acquisition, youth development, we want to be able to partner with them in that process”.
Speaking further, Dr Peterside noted that the agency will operate transparently to boost the confidence of investors and secure stakeholders’ buy-in to change the negative narrative and public perception being expressed in some quarters with a view to accelerating investment inflow into the State to boost the economy.
He added, “We have a perception problem. People have the perception that it is insecure to travel to Rivers State and invest for that matter. So, we want to be able to dissaude people and the public from that kind of understanding of the State.
“First, by making sure we operate transparently through a portal like the one-stop-centre that has a wealth of information. Secondly, we want to mount a very positive media campaign to change the negative narrative.
“As far as investments are concerned, we want to be able to showcase positive investment information across all media platforms. Last week, there was a deal that was signed with the Rivers State Waste Management Agency, and it was all over the news. That is what we want to be seeing”.
On the issue of touting and multiple-taxation, Dr Peterside, stated that there is a harmonized tax code, which will be implemented with the support of the State Board of Internal Revenue, local government councils and other agencies of government.
He emphasised, “In the coordination of investment flow, we will make sure we work with other agencies. There is a harmonized tax code that already exists. It has to be implemented. We will have to support and work with the Board of Internal Revenue, and the local government councils. It is a big challenge but the good news is that the harmonized tax code already exists. We will see how going forward, that can be achieved.”
In attendance were the Commissioner for Information, Joe Johnson; Commissioner for Women Affairs, Dr Roseline Uranta; Acting Administrator, Greater Port Harcourt City Development Authority, Dr Tonte Davies; top-level representatives of RIWAMA, Ministries of Finance, Youth Development, and private sector organizations.