Posted by on 1/29/2003 1:24:22 PM

Economic Incentives: Cross River State enjoys a healthy and attractive economic climate, primarily because of its large expanses of uninhab ited land. Industrialists who want to locate in the state can easily acquire land especially in the indus trial estates.

The state government can, within thirty days, provide industrial land for a rent free period of ten years, with a guaranteed certificate of occupancy. Government can also assist private investors with feasibility studies; complete infrastructural facilities access roads, drainage, water, electricity, refuse disposal are available in Calabar and in other parts of the state. There is a growing number of banks supporting public and private sector initiatives.

Export Processing Zone: A significant boost to industrialisation in Cross River State is the estab lishment of Nigeria's first Export Processing Zone (EPZ), based in Calabar Port. Already, over 35 local and foreign investors have applied to the Nigeria Export Processing Zone Authority to invest in the Calabar EPZ.

Overseas companies have shown interest in investing in mineral processing, utilising Nigeria's deposit of gemstones, tin and uranium. Companies from far away Taiwan in southeast Asia are interested in electronics manufacture.

Nigerian, American and British investors will establish pharmaceuticals, while other countries are interested in agroindustrial products such as fruit juice,utilising local oranges,pineapples ,paw paw and other fruits.

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