Burundi Appeals for Investments from Nigerians

By: Michael Mike

The government of Burundi has appealed for investments from Nigerian investors, insisting that the Eastern African country has the environment to grow their wealth.

A delegation from the country who was in Abuja, Nigeria made mouth watering incentives to Nigerian investors who might be interested in investing in the country.

Special Envoy of the Burundi President, Ambassador Liberat Fumukeko, who led a delegation to Nigeria, urged captains of industries to catch on to the abundant opportunities in Burundi.

Fumukeko said that there are juicy incentives for Nigerian investors that decide to invest in his country.

He said: “We have come to Nigeria with the delegation from Burundi and we have come to invite people from the private sector in this country to come to Burundi and explore the investment opportunities because we feel like there’s something this country, (Nigeria) as an African power can do in terms of trade investment with other part of Africa.”

On the attractions on ground for investors, the envoy said: “Well, I mentioned that we have a legislation and an investment legislation and this one is very clear any investor coming into our country can repatriate there profit and their money provided that they comply with all the local policies, especially in the area of taxation. So they pay taxes like everyone else and they will have equal treatment and be able to repatriate their profit.”

On his visit to Nigeria, the envoy said: “We thought it would be proper to come down here and have a face to face interaction with the private sector of Nigeria so that we can understand exactly what they can do in this region.”

On his part, Engr Mustapha Bello, former Minister of commerce and industry who was part of the Nigeria business community that met with the visiting envoy, commended the Burundian government for the audacious move.

He said: “First I must commend the Ambassador. I think he has done extremely well. I can’t remember when last I’ve seen any head of embassy in Abuja inviting business community members to interact with them. I think he has done well, he has started well by bringing a high level delegation from the president of Burundi to Abuja to come and make a presentation to us.

So, I think what is left for us as Nigerians is to take advantage of the opportunity we’ve been exposed to and then to see how we can build the bridge and that bridge is exactly creating Nigeria- Burundi business council.

“Then the two sides will now continue interacting, organizing trade delegations, investment missions and the like.

“I think the most important thing is, we have the market, the capacity and the people who have the resources, this are the key things we require to be able to begin to engage with the country and I’m not sure within the continent if you begin to look at the statistics and the data that the number of rich people we have in Nigeria, I don’t think there’s any country that has half of that in the continent of Africa. I’m not sure, so for Burundi to expose its opportunities to Nigeria is to say the list that they have started whatsoever the embassy should be doing that the normal diplomatic work that ambassadors should do. I think very soon the Burundians will come to understand that the ambassador is doing something good for them as their representative in Nigeria.”

The former minister also explained his role in the meeting, which he said involved sharing information and inviting serious minded investors. He said: “My responsibility is to facilitate sharing the information and invite those who are serious business people and then take them over so that they can share their resources.

“We too, we are looking at the area of agriculture and doing the analysis of food sectors that will be good for us to put our own resources into, then when we meet again we will be able to tell you which sector we are in, that is key for us.”

Burundi Appeals for Investments from Nigerians

China Underlines Nigeria Importance

By: Michael Mike

China has underlined Nigeria importance to its plan in Africa, stating that the West African country remains one of its most reliable allies.

Speaking at the 75th anniversary of the founding of the People’s Republic of China(PRC), China’s Ambassador to Nigeria, Yu Dunhai said Nigeria remains China’s largest project contracting market, the second largest export market, third largest trading partner, and a major investment destination in Africa.

The Ambassador said that since the establishment of diplomatic relations in 1971, China and Nigeria have been enjoying a long-standing friendship, with strengthened high-level engagements, consolidated political mutual trust, deepened people-to-people exchanges, and fruitful outcomes of practical cooperation.

He said: “Nigeria remains China’s largest project contracting market, the second largest export market, third largest trading partner, and a major investment destination in Africa.

“In 2023, bilateral trade between our two countries reached $22.5 billion.

“Our practical cooperation has achieved fruitful results in areas such as infrastructure, investment, trade, agriculture and green economy, covering projects for aviation, on land and in the sea.”

The envoy said over the past 75 years since the founding of the PRC, under the strong leadership of the Communist Party of China (CPC), the Chinese nation has forged ahead in unity and has achieved tremendous transformation from standing upright to becoming prosperous and growing in strength

He noted that over the past decade, the CPC has rallied and led the entire Chinese nation to win the largest battle against poverty in human history.

He said: “Each year , an average of 10 million people were lifted out of poverty, which is equivalent to the population of a medium-sized country.

“At present, nearly 100 million Chinese people in total have shaken off poverty. China has accomplished the historic mission of building a moderately prosperous society in all respects.

“The living standards of Chinese people have grown from bare subsistence to moderate prosperity, while China has moved from weakness and poverty to strength and prosperity, achieving the twin miracles of rapid economic development and long-term social stability in human history.

“Between 2013 and 2023, China contributed over 30 percent on average to global economic growth, making it the largest driving force for the world economy.”

Yu also added that presently, the Chinese people have embarked on the new journey toward the Second Centenary Goal, which is, 2049, to build our country into a great modern socialist country in all respects that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful.

Speaker, House of Representatives, Rt. Hon. Abbas Tajudeen, who was at hand to celebrate with China, congratulated the country on its 75th anniversary and its growth and achievements.

He also announced that the House of Representatives will be actively engaging through our China-Nigeria Parliamentary Friendship Group initiative to explore various areas for collaboration and cooperation, focusing on sectors such as trade, technology transfer, infrastructure development, and cultural exchange.

He said: “By learning from China’s experience in leveraging its legislature for national advancement, we can better position ourselves to address the challenges facing our own country.

“We reaffirm our commitment to enhancing cooperation between Nigeria and China because we believe that it is imperative that we work hand-in-hand to address common challenges while seizng opportunities for growth that benefit both nations.”Tajudeen said.

The founding of the People’s Republic of China (PRC), is a significant moment in China’s history following the Chinese Civil War and victory of Mao Zedong’s Communist forces over the Kuomintang forces of Generalissimo Chiang Kai-shek, Mao Zedong proclaimed the founding of PRC on 1 October 1949.

China Underlines Nigeria Importance

Night economy thrives across China

By Lin Lili, Huang Xiaohui, Wang Xinyue, People’s Daily

On a weekend night, on an open stage in the Ninth Street of Guanyinqiao business area, Jiangbei district, southwest China’s Chongqing municipality, people were singing and dancing, creating a lively atmosphere.
“We come here to listen to music, enjoy food, and go shopping. The Ninth Street never sleeps at night,” said Chen Qi, a young local resident.

Just across the street, at the Beicang Cultural and Creative Block, a 24-hour bookstore was filled with young readers, who are drawn to the artistic night market.

The night economy is an important part of urban commerce. In China, the booming night economy has evolved from traditional night markets centered around dining and shopping to integrated hubs for culture, tourism, and entertainment.

Cities across the country are striving to boost nighttime cultural and tourism consumption and offer a wide range of nighttime activities in line with local conditions, injecting fresh energy into the consumer market.

For instance, the 5th Tianjin Nighttime Life Festival was recently held in north China’s Tianjin municipality, including over 100 events integrating shopping, tourism, culture, and sports.

In Shenyang, capital of northeast China’s Liaoning province, the First Traditional Chinese Medicine (TCM) Culture Night Market was launched, where people could learn traditional Chinese fitness exercises like Baduanjin, Wuqinxi, and Tai Chi from experts.
Shijiazhuang, capital of north China’s Hebei province, has integrated business models such as nighttime entertainment, tourism, and sports, providing a range of sports activities for its residents.

Apart from diverse and vibrant urban nighttime activities, the night economy in Chinese rural areas also has its unique appeal.

For example, in Wangjiazhuang village, Lingtai county, Pingliang, northwest China’s Gansu province, people came together for vibrant bonfire parties and village basketball competitions, also known as “CunBA” usually held after sunset.

Local farmers in Shuijing village, Zhenning county, Anshun, southwest China’s Guizhou province, tapped into the beauty of a vast lotus pond to attract visitors to come and appreciate the lotus flowers while tasting local snacks.

According to Pan Helin, an official with China’s Ministry of Industry and Information Technology, the Chinese night economy is flourishing with numerous highlights: themed night markets with cultural and creative products and delicious food have enriched the options for nighttime consumption; nighttime bookstores and museums are merging with technology and cultural tourism sectors to create new consumption models. “All these services cater to the unique and wide-ranging demands of Chinese consumers,” Pan added.
However, as the night economy develops, residents living near commercial districts inevitably face disturbances such as nighttime noise, lights, and cooking fumes. While promoting the night economy, regions across the country have improved their management and provided better public services to minimize the negative impacts on the surrounding environment.
For instance, Maoming North Road located in Nanjing West Road business circle in Shanghai’s Jing’an district has turned into a pedestrian street every weekend and on all Chinese national holidays. This year, during events like the UEFA EURO football championship and the Paris Olympics Games, some bars and restaurants there were allowed to extend their opening hours from 1 a.m. to 3 a.m. on weekends.
It is reported that relevant local government departments have reached agreements with nearby businesses and shop owners on the allocation of outdoor business areas, maintaining consistent LED brightness levels and prohibiting outdoor loudspeaker advertisements at night. In addition, the property management company of the pedestrian has set up a self-regulating committee for shop owners to oversee and enforce these regulations.
The Chinese night economy is developing in tandem with new business forms such as on-demand retail and community e-commerce, better meeting consumers’ nighttime consumption needs.
“I was worried about my child getting cold while swimming at night, so I ordered a few cups of hot ginger tea and some snacks. To my surprise, they arrived in just over 10 minutes,” said Yu Mengying, a resident in Lianyungang, east China’s Jiangsu province, who was unfolding a picnic blanket on a beach.
“Now we can travel light as we don’t need to take too many things with us. We can place orders on our phones anytime, and the delivery is fast,” she said.
New technologies like big data have also improved the management and service quality of the Chinese night economy.
At the Caita night market in Shenyang, a market regulation enforcement officer was checking food vendors using a smart monitoring platform while recording his findings on a mobile application. The inspection was completed in just five minutes.
“We don’t need to carry inspection documents with us, which removes the burden of managing and storing the paperwork, leading to a notable improvement in regulatory efficiency,” said Zhang Zhaoyu, an official with the Shenyang Administration for Market Regulation.
It is reported that Shenyang has included nighttime food safety regulation into a smart supervision platform, aiming to achieve comprehensive smart supervision through mobile terminals.

Night economy thrives across China