U.S. companies in Nigeria says they see China as a business opportunity and not a threat to their operations and growth in the market.
Mr Lazarus Angbazo, President, American Business Council (ABC), stated this in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.
“China is a real source of competition to us, but I will say that each of the American businesses here also looks at China as an opportunity.
“We look at China as an opportunity to leverage on what they can do; financing is a big issue and an opportunity that we leverage on, they have got a much cheaper supply chain, that we can leverage.
“We have a huge footprint in China and about 20,000 people in China. We have factories in China, we make things in China for the world,” he said.
According to him, doing business the right way, doing it sustainably is the most profitable way and shows in the track record.
”We are proud of the operations and successes of American businesses in Nigeria.”
He noted that the quality of American merchandise and marketing, branding support, intellectual property and all the benefits were priceless and unmatchable.
He said that US would heighten American Business interests and investments in Nigeria, support government’s economic policies and deepen engagement with Nigeria.
Angbazo said that this would enhance government’s diversification agenda, deepen the agricultural sector and digital economic growth and increase private sector synergy between US and Nigeria.