Nation Politics 22 Feb 2020 Facilitate more inve ...

Facilitate more investments in Tamil Nadu, Edappadi K Palaniswami urges envoys

DECCAN CHRONICLE. | D SEKAR
Published Feb 22, 2020, 1:54 am IST
Updated Feb 22, 2020, 1:54 am IST
Palaniswami had launched the initiative during his visit to New York last September.
CM Edappadi K. Palaniswami with High Commissioners and ambassadors at a ‘Diplomatic Outreach’ programme, organised by the external affairs ministry and the state  government. (Photo: DC)
 CM Edappadi K. Palaniswami with High Commissioners and ambassadors at a ‘Diplomatic Outreach’ programme, organised by the external affairs ministry and the state government. (Photo: DC)

CHENNAI: State Chief Minister, Mr. Edappadi K Palaniswami on Friday urged foreign envoys to be “bridge builders” in facilitating more investments from their respective countries into Tamil Nadu, even while exploring possibilities of their respective state development funding agencies to invest in infrastructure development here.

“Your good offices should help to cement better ties between us,” Mr. Palaniswami said, addressing a group of High Commissioners and Ambassadors at a 'Diplomatic Outreach' programme, organised by the External Affairs Ministry and the State government.

 

Lauding the assistance rendered by officials of various countries during his tri-nation tour last year to attract more FDI (direct foreign investment) to the State, Mr. Palaniswami also sought their cooperation to implement Tamil Nadu's government's 'Yaadum Oore' initiative to reach out to the Tamil Diaspora in various foreign countries and get them engaged economically. Mr. Palaniswami had launched the initiative during his visit to New York last September.

Mr. Palaniswami, while appreciating the role of foreign envoys in facilitating investments, identified eco-tourism and medical tourism in particular for great collaborative efforts between their respective countries and Tamil Nadu.   

Referring to steps taken by his government to attract investments from various countries, he said 304 agreements envisaging outlay of over Rs three lakh crore in the state were made during the Global Investors Meet last year. “Fiftynine of the companies have commenced operations while the projects taken up by 219 companies are in various stages of execution”, Palaniswami said.

The government has taken up various steps to introduce business-friendly measures including single window clearance, expediting procedures involved for companies planning to make investments in the state, he added.

Palaniswami also mentioned about his 2019 tour of the U.K, U.S and Dubai during which investments worth Rs 8,835 crore were committed by various companies. “Currently, various projects have been inaugurated,” he said.

As part of those efforts, on Friday, a memorandum of understanding was signed between TIDCO (Tamil Nadu Industries Development Corporation) and SIPCOT (State Industries Promotion Corporation of Tamil Nadu) to set up a Polimer textile park on a 250 acre land in Ponneri near here at an investment of Rs 217 crore. “The Park to be equipped with modern features will attract investments worth Rs 3,000 crore and generate 7,000 jobs”, he said.

Mr. Palaniswami was optimistic that companies from various countries would take part in the proposed Mega Textile Park planned in Salem and Tuticorin districts. On the software front, Palaniswami said Tamil Nadu has become the 'Software as a Service (SaaS) Capital of India following the presence of large IT companies.

The MoU signed between TIDCO and National Industrial Corridor Development and Implementation Trust (NICDIT) on Friday for the Chennai-Bengaluru Industrial Corridor will be a milestone in the progress of the state, he said, even as he recalled former Chief Minister's initiatives to make Tamil Nadu the “most investment friendly destination in Asia.”

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