Rivers Investment Agency Takes Off

The newly inaugurated Rivers State Investment Promotion Agency, RSIPA, has said that it will work with ministries, departments and agencies (MDAs) to promote ease of doing business and improve the operating environment for investors in the state.
The agency also said that an integrated one-stop-shop platform that will enable the sharing of useful information and opportunities that exist in the respective MDAs and various sectors of the State’s economy has been put together for potential investors to access and feed their business and investment aspirations.
Speaking during its maiden stakeholders’ engagement session at the Government House, in Port Harcourt on Thursday, the Director-General of the agency, Dr Chamberlain Peterside, said the agency will facilitate, complement and coordinate activities of the various MDAs and other critical players in the business environment.
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 complement, coordinate and make sure that the MDAs and other key entities are more successful in what they do.,” he said listing ministries like Lands, Commerce and Industry, Transport, Ministries of Youth Development, and Women Affairs, as frontline ministries it would deal with as well as any agency that has to do with investment promotion, skill acquisition, youth development, we want to be able to partner with them in that process”.
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 dissuade 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.”
At the session 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.