By Peter OBIORA InvestAdvocate

LONDON (INVESTADVOCATE)- Vince Cable, Secretary of State for Business, Innovation and Skills in the United Kingdom (UK) Monday tipped Africa and Nigeria in particular as the world’s new investment destination.

Cable in an exclusive chat with www.investadvocateng.com said this at the Courteville Business Solutions Plc Platinum Sponsored African & Caribbean Business Expo taking place in London.

“The advice I will give to investors is not to go by the old stereotypes, there are a lot of very successful African Countries at the moment and the key evidence was the World Bank’s analysis which shows that for many African Countries, there are now a much more attractive business environment; some of them are taking after,” Cable said.

According to him, prior to this time, the world’s investment destination was Asia; because they had good governance and enabling investment environment.

“We prior to this time turned to concentrate on Asian Countries, they have often got good Government regimes; but now Africa; especially Nigeria with its relatively stable Government has got a liberal environment, attractive Tax policies and there are very good business opportunities,” Cable said.

According to him, it should be a two way affair for both Nigerian Companies and British Companies to collaborate.

“It’s got to be a two way process, both for Nigerian Companies here and British Companies in Nigeria, we don’t want to have just one way,” the UK Business Secretary affirmed.

He said that it was good Nigeria and Britain developed relationships in the area of investment.

“I think it’s quite good we developed relationships, we have the largest manufacturing Company in the UK and who knows in the next 20 years, it could be Nigeria,” he said.

The UK Business Secretary of State advised investors not to shy away from Africa; but to key into the emerging opportunities and invest in the continent.

“The advice I will give to investors is to not go by the old stereotypes, there are a lot of very successful African Countries at the moment,” Cable affirmed.