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International investors focusing on Nigeria, three others for growth and investment – KPMG boss

By on March 7, 2013
Mr. Andrew Michael

Mr. Andrew Michael

The Chairman, KPMG global, Mr. Andrew Michael has said that Nigeria is one of the four countries that International investors would want to invest in.

Andrew said this while addressing newsmen in Lagos on his working visit to Nigeria. According to him, “In the last few weeks I have been to Mexico, Indonesia, India and now Nigeria, and their similarities are remarkable-between those economies and these are the ones attracting a lot of interest.

“In the last few years we have talked about BRICS as been the area of focus, but if you talk to international investors, their view will be that the BRICS with the exception of China has been quite disappointing, that they have found it difficult to invest in these countries, their regulatory environment is unpredictable and that they have not been able to get return on their investments. Investors now talk about the MIINT, Mexico, Indonesia, India, Nigeria and Turkey.

“They are the four countries that the international investors are really focusing on for growth and investment. The offers are intense and we are getting a huge amount of enquiries about these countries. People want to know how to do business in these countries, how to access the markets and how to take advantage of the long term growth that is coming.

Speaking further, the KPMG boss said “I will also like to put ASIAN to MIINT because of the recognition of free trade in those countries. Singapore, Malaysia, Thailand, Vietnam, Miama and Indonesia is a large market of about 750 million people where there is common infrastructure, planning and customs regime.

“Investors are looking at that and I think they can compete with China. I think part of the point for Nigeria is that it actually competes now for investment with Indonesia, South America and Mexico. When international investors are look at these countries, there are certain features that they will like to see, which is actually influence their investment.

“If you are a CEO and you are seating in London, New York or Frankfort because the market is growing and the cash inflow to these market, the market are putting pressure on the CEOs to try and few new markets where they can find growth, Particularly in things like consumer markets, financial services, food and energy are the ones that they are really focused on in these emerging economies. They know that they have to be here and they know that they have to have a long term view of the market. So they are actually studying the market entry plans for these countries. So these are the macro trends that we are actually seeing in economies around the world,” he added.