The Abuja Chamber of Commerce and Industry, Dispute and Resolution Centre cordially invites the member of the society to a social media engagement titled “The Gist with DRC- ACCI” every monday on the centre’s social media platforms.
The Dispute and Resolution Centre of Abuja Chamber of Commerce and Industry, Registrar, Onyiaorah Chidimma, in her article addressed the role of resolution of disputes arising from commercial transactions and investment that the nation must acknowledge that Foreign Direct Investment is crucial to the growth and development of any economy.
Chidimma said, “We must also recognize that our environment is most times stifling for genuine business investments. Even though there have been steps by government in encouraging ease of doing business, there is need for more work to be done especially in the area of resolution of disputes arising from commercial transactions and investment.”
She added that it is obvious that investors go to places where they are assured that their investments will be secured; and even in the event of any risk, the agreement can be made enforceable in the legal environment in which the business operates.
Chidimma noted that one of the keys to encouraging investments and business developments is to have an efficient and effective dispute resolution mechanism in place to facilitate resolution of such. Effective ADR mechanisms can bolster investor confidence in investing in a particular count.