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Gold/Mining/Energy : Columbia River Resources - CRVV on OTC NASDAQ -- Ignore unavailable to you. Want to Upgrade?

To: Aduke who wrote (71)	9/8/1999 1:58:00 PM
From: CIMA	Read Replies (1) \| Respond to of 280

Wonder if this involves CRVV? Registration Of 35 Foreign Firms Underway -------------------------------------------------------------------- NO fewer than 35 foreign firms will start business in Nigeria early next year if their applications to enter into technical agreements with local businessmen sail through. The number represents the volume of applications sent to government through the National Office for Technology Acquisition and Promotion (NOTAP) between June (at the inception of the present administration) and last month. According to the Director and Chief Executive of the department, Dr. David Okongwu, "this is a phenomenal rise in the number of applications compared to years of military rule when nobody wanted to do business, especially manufacturing here." There was no application at all between January and April this year. Three key areas - manufacturing, engineering services and textiles - are the most favoured while the spread shows Lagos, Port Harcourt and Kaduna as "cluster" regions. Also, old agreements are being renewed which may lead to re-opening of shut factories like Benue Breweries that is entering into a new technical agreement with a German firm. To reap maximum benefits from the improved economic climate and renewed interest in the nation's economic potentials, Nigerians are asking for scaling down of license fees (amount paid to original owners of technology) which is generally below five per cent of net sale or profit before tax. The negotiations by local entrepreneurs are becoming so competitive that the fee is as low as one per cent in some cases. Impeccable government sources told {The Guardian On Sunday} that West African Portland Cement (WAPCO) is asking for a renewed agreement costing billions of dollars to overhaul its whole system while Afprint, a textile company, has requested for a downward review of licensor fees to one per cent. All banks are also asking for agreement that will allow them use smartcards. In amendment of the applications, NOTAP, the sources say, insists that Nigerians should not be ripped off in anyway. Specific questions are asked about programme for increasing local contents of products with time towards reduction of cost of production and training of Nigerians with the aim of taking over from expatriates where applicable. The sources also said the revenue being generated from payment for application and registration of technology acquisition agreements and other services rendered by NOTAP has increased considerably. The fees are to facilitate the quality of partnership entered into by Nigerians with foreign entrepreneurs. They were reviewed upwards six months ago. According to the reversed rates of fees applicable for the registration of technology acquisition agreements, the registration fee for any contract involving a total payment above N50 million for the duration of the agreement is N50,000, whereas any contract involving payment below N50 million for the duration of the agreement attracts a fee of N25,000. Failure to present any contract or agreement for registration within 60 days from the effective date attracts a penalty of N20,000 for late submission, whereas, the normal presentation fee is N5,000.00 which should accompany the contract/agreements while the registration fee is to be paid after the approval of the agreement. Charges for other services rendered by the parastatal include sale of the revised guidelines on technology acquisition project for N500 and directives of licensor sold for N1,000. Technology advisory services and patent information documentation are rendered free. Government's main concern for taking the measures is to: ensure the effective and diffusion of foreign technology within a specific time frame at a fair and equitable contractual and payment terms; create better understanding in the implementation and interpretation of the NOTAP enabling law with a view to strengthening the negotiation capabilities of Nigerians; improve the quality of agreements submitted to the office and therefore facilitate the evaluation and registration of agreements and, serve as a useful guide in the drafting of technology transfer agreements by Nigerian parties.