To attract more investments to Punjab, the Chief Minister Capt Amarinder Singh on Tuesday asked the Invest Punjab to invite leading industrialists for the upcoming Progressive Punjab Investment Summit (PPIS)-2019, scheduled to be held in Mohali on December 5-6.
Capt Amarinder, chairing a high-level meeting of the organising committee to review the preparedness of this mega event, emphasised the need to synergise the roles and duties of the Administrative Secretaries heading the 11 committees constituted to make this event a grand success.
The Chief Minister envisioned that the Summit would go a long way in ensuring holistic industrial development of the state to propel it into the orbit of high growth trajectory. He asked Invest Punjab to make optimum use of this healthy platform to project Punjab as the preferred investment destination among the domestic and global investors.
Hr also directed the ACS Investment Promotion to make elaborate arrangements for one-to-one interaction of the leading entrepreneurs from the State with the delegates participating in the Summit from the country and abroad, for exploring possibilities of technical collaboration as well as technological transfer of know-how to set up industrial units in different sectors.
Notably, the Chief Minister would be presiding over pre-events, including Invest North event at Bangalore from August 29 to 3, Ambassador Connect Delhi on September 5, and India Economic Summit on October 3 and 4 to set the stage for the PPIS-2019.
JAPAN PLANNING TO INVEST IN PUNJAB’S REAL ESTATE SECTOR
Japan’s leading conglomerate, the Softbank Group, on Tuesday shared with the Chief Minister Capt Amarinder Singh its plans to invest in Punjab’s real estate sector, with focus on student housing through their flagship OYO start-up.
A high-level delegation of the Group, led by its managing director Hiroki Kimoto, called on the Chief Minister, who extended his government’s full support in the realization of Softbank’s investment plans in the state.
Capt Amarinder assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab, in the fast-track mode.
Earlier, briefing the delegation on various investible projects, ACS Investment Promotion and Industries and Commerce Vini Mahajan said that Punjab had a vibrant real estate sector, with areas around Chandigarh seeing excellent growth. Punjab has witnessed over Rs. 2,000cr e-auctions over the last two years. Reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector, she added.
Taking part in the deliberations, Lovely Professional University Vice Chancellor Ashok Mittal said that they were in advanced talks with Softbank for a potential collaboration for the construction of student hostels, as there was a huge demand for hostel facility for the domestic as well as international students.
Notably, Softbank is one of the biggest investors in the Indian start-up ecosystem, with approximately 20 percent of their investments in India-based businesses.
The Company has backed many of the domestic unicorns such as Ola, the largest ride-hailing aggregator; Oyo, the fast-growing hotel booking platform; and PayTM, the pioneer in electronic payment.