Tamil Nadu: EPS demands White Paper on foreign investments

Chennai: Leader of the opposition in the Assembly, Edappadi K Palaniswami, demanded a White Paper on the foreign direct investments that had flown into the State in the past 32 months of DMK rule, particularly through the three foreign trips made by Chief Minister M K Stalin to different countries and the Global Investors Meet (GIM) organized in Chennai on January 7 and 8, 2024.

Questioning the Chief Minister’s claim of three companies signing three Memoranda of Understanding (MoU) for investments to the tune of Rs 3440 crore during his latest visit to Spain, starting from January 27, Palaniswami asked what was the need to go all the way to Spain when two of those firms had already established offices in Chennai and Perundurai.

In his hard-hitting statement on Thursday, he said the government had not brought out a draft plan to bring one trillion US $ investment by 2030 and also wondered why the Chief Minister went to Spain when he could have invited those Spanish companies for the GIM held just 20 days ahead of his trip.

On his demand for the White Paper, he said that it should mention how many MoUs were signed in the 32 months, how many companies had started operating in the State and how many people from the State had got employment through those investments.

He said that State had been made a traditional manufacturing hub during the tenure of K Kamaraj and efforts of former Chief Ministers M G Ramachandran and J Jayalalithaa brought in direct investments to the State following the implementation of the Globalisation and Liberalisation policies in 1992.

( Source : Deccan Chronicle )
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