Lockdown: Agency chairman tasks workers on maximum use of ICT
Technology
By Mercy Obojeghren
Asaba, April 22, 2020 (NAN) The staff members of the Delta State Investment Development Agency (DIDA), were on Wednesday urged to make maximum use of Internet technology revolution taking place all over the world in the face of the Coronavirus pandemic.
The Chairman of DIDA, Mr Paul Nmah, made the call in Asaba when the agency held its first e-meeting to fashion out new investment strategies to boost investment in the state.
Nmah said investment activities had been challenged by the effects of the Coronavirus pandemic.
He said that DIDA should be actively engaged in executing its mandate by using the currently available Internet technology to interface with investors with a view to having them invest in the state.
“The new world order is tilting towards changing investment engagements to reflect a situation where investors would not have to rely on government funding.
“It is my belief that the pandemic is a passing phase.
“DIDA as an investment agency should be able to come up with self-funded projects that will inevitably rejuvenate the economy of the state after the Coronavirus pandemic,” Nmah said.
He called on the workers to be innovative and unique in structuring investment projects that would be viable and sustainable in the long term, adding that they could be backed by legislation to give assurance to potential investors.
Earlier, the Director-General of the agency, Chief Lucky Oghene-Omoru, said that carrying out some due diligence exercises would become more encompassing and quicker through Information and Communication Technology.
Oghene-Omoru said meetings with some investors and initial processing of some aspects of investment projects could be conducted through video conferencing facilities.
“DIDA shall employ securitisation and asset based financing strategies in structuring new projects to reduce undue reliance on government funding in view of the difficult times.
“The effect of COVID-19 leading to realignment of global investment flows requires urgent paradigm shift in DIDA’s investment promotion strategies to take advantage of emerging opportunities,” he said.
Oghene-Omoru said that existing proposals would require revalidating to know whether the proposals were still relevant in terms of project funding conditions, obligations of parties and necessary modifications.
”DIDA shall form alliances with foreign and local investors seeking new terrain, to make them invest in Delta State,” he said.
Oghene-Omorut said that DIDA needed to partner selected commercial banks to access funds for projects in the preferred sectors namely, agriculture, manufacturing, pharmaceuticals, tourism, exports and some import substitution industries. (NAN)
MOA/ORO/DCU
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Edited by Razak Owolabi/Donald Ugwu