The Akwa Ibom State Government has expressed its readiness to partner with Hucha Technologies Incorporated, an American-based company, to develop fabrication technology, mining, and wealth creation in the state.

Governor Udom Emmanuel made this known during a courtesy visit by Hucha Technologies’ delegation at Government House, Uyo. Emmanuel assured the company of a conducive business environment and stated that the state’s One-stop Shop Committee for investment would facilitate ease of doing business. The partnership aims to create wealth and engage youths in meaningful entrepreneurial ventures, curtailing restiveness and vices.

The Ibom Deep Seaport project, approved by the Federal Government, will accommodate Hucha Technologies at the Ibom Industrial City through a Build, Operate, and Transfer (BOT) arrangement. Governor Emmanuel emphasized the state’s commitment to transparency and corruption-free business practices.

Hucha Technologies’ President, Guy Djoken, thanked the state government for accepting the partnership, which will bring innovations in financial technology, fabrication technology, and mining. Djoken highlighted the fabrication laboratory investment worth $10 million, based on a BOT arrangement, generating employment for Akwa Ibom people. The laboratory will produce robotics, renewable energy, and lithium batteries. Hucha Technologies seeks to harness the state’s rich potentials, already tapped through Governor Emmanuel’s industrialization projects. The partnership aims to create wealth, provide jobs, and transform products locally and is expected to contribute to the state’s economic growth and development.

About Hucha Technologies

Hucha Technologies Incorporated is an American-based company specializing in financial technology, fabrication technology, and mining. Their focus areas include:

1. Financial Technology: Developing innovative payment solutions and digital financial services.

2. Fabrication Technology: Creating robotics, renewable energy systems, and lithium batteries.

3. Mining: Enhancing mineral exploration and extraction processes.

Investment Opportunities in Nigeria

Nigeria offers various investment opportunities across sectors:

1. Agriculture: Farming, processing, and export of agricultural products.

2. Energy: Oil and gas, renewable energy, and power generation.

3. Manufacturing: Textiles, food processing, and construction materials.

4. Mining: Solid minerals exploration and extraction.

5. Technology: Fintech, software development, and IT services.

Incentives for Investors

The Nigerian government provides incentives for investors, including:

1. Pioneer Status Incentive: Tax holidays for pioneering companies.

2. Free Zones: Duty-free imports and exports.

3. Investment Tax Credits: Reductions in tax liability.

4. Infrastructure Support: Access to industrial parks and special economic zones.

Resources for Investors

To learn more about investment opportunities in Nigeria:

1. Nigerian Investment Promotion Commission (NIPC): Provides guidance and support.

2. Nigeria’s Ministry of Trade and Investment: Offers information on investment policies.

3. Nigerian Stock Exchange (NSE): Lists investment opportunities in the stock market.