Former President Goodluck Jonathan has appealed to South Korea to establish investments in his state, Bayelsa, noting that opportunities abound in the state for foreign investors.

Jonathan said most times foreign companies avoided investing in young states such as Bayelsa, with relatively low infrastructural development. He, however, maintained that the oil-rich state had a potential market for companies to thrive.

The ex-President said this at a state banquet organised by the Bayelsa State Government in honour of the South Korean Ambassador to Nigeria, Kim Young-Chae, on Friday night in Yenagoa. Young-Chae was on a two-day visit to the state.

A statement on Saturday by the governor’s Chief Press Secretary, Mr. Daniel Alabrah, quoted Jonathan as urging the Korean envoy not to let slip the opportunity of harnessing the full potential of a virgin state like Bayelsa.

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The statement read in part, “Most cases, when companies come into Nigeria, they feel that they cannot invest in young states like Bayelsa, my own state, with relatively low infrastructure development, and have to go elsewhere.

“But Bayelsa is where you have the fertile market and luckily some of your companies like Daewoo and others are here. So they know that Bayelsa is a virgin state. This is a state you should encourage Korean investors to come in. The government, the governor and his team are ready to work with investors.”

In his remarks, Diri said South Korea made the right choice by partnering Bayelsa to make the state achieve its full economic potential.

He said his government was fully committed to moving the state in the direction of economic and technological development.

Speaking earlier, Young-Chae, said the South Korean government was looking forward to enhancing the cooperation between it and Bayelsa, saying the state has one of the largest oil and gas reserves in Nigeria, which makes it a land for great economic opportunities and an investment haven.