Punjab Government on Wednesday claimed of having attracted a committed investment of 50 million dollars as well as potential investment of several hundred million during the Investment Meet held in Shanghai in collaboration with the Confederation of Indian Industries (CII).
Government’s official statement here stated that as many as 114 Chinese investors participated in the Investment Meet which also witnessed an announcement by Deputy Chief Minister Sukhbir Badal to establish a Punjab Invest Office in Shanghai.
The office would take care of the potential investment from China, Taiwan, Hong Kong and South Korea.
An agreement of cooperation was also reached between Chengdu Chongzhou Investment Promotion Centre represented by its party secretary Xu Jian and Punjab represented by Sukhbir Badal.
Jian confirmed to visit Punjab along with a business delegation in October to study ways and means to invest in Punjab.
Sukhbir proposed that a Punjab-China summit be held in October-November to facilitate Chengdu investors as well other investors from China.
Chinese investors welcomed the proposal and urged that business-to-business meetings be held during the proposed summit to fast track investment into Punjab.
Meanwhile, Yiwu Om Sal Company, led by leo lee, pledged to invest 50 million dollars to manufacture high quality synthetic blankets. The company has decided to take up 33 acres of land at Goindwal Sahib and will employ 2,000 workers. It is likely to finish the process of land takeover within two months.
Other investors meeting the Deputy Chief Minister included Kevin of Zhongoai Merchants Investment Group which is the number one company in the PVC sphere in China. Its representatives said that the Company was eager to invest in agriculture, irrigation and water supply in Punjab.
Another major company managing director Qu Wui of Anhoi Tiankang Special Vehicle Equipment Group, which deals in lED, electric bikes and e-cycles, said that his company was keen to set up a shop in Punjab. Sukhbir suggested that the company could be part of the E- Cycle Valley at ludhiana.
Another major investment included a proposal to set up plastic silos in which grain can be stored by pumping it in. Sukhbir said that the State was ready to do a cost benefit analysis of this project as well as put up a pilot project to test this new technology.
Punjab’s additional chief secretary of Department of Investment Promotion Karan Avtar Singh told the Chinese investors that the State was coming out with a Mandarin interactive website. “Investors could also get facility of clearances sitting in Shanghai itself after approaching the new Punjab Invest office. We will give all clearances within 30 days and provide you with a dedicated relationship manager also.” he added.
