Ahead the much-talked about Punjab Investment Summit scheduled for October, Punjab Government is out to woo the investors and industrial houses not only in India, but also at the international forum.
Deputy Chief Minister Sukhbir Badal, who is currently on his South Korea visit attracting big names to invest in Punjab, on Wednesday announced that a Korean Park would be set up in Punjab; the State Industries Minister Madan Mohan Mittal, who recently returned from his China tour, also declared that the Chinese investors would set up industrial clusters in the State.
Both have invited the delegations from South Korea and China ahead of the Investment Summit in October to finalise the modalities.
‘PUNJAB MOST lOGICAl PlACE FOR INVESTMENT DUE TO PROXIMITY TO DElHI’
Soliciting Korean investment in environment management, transport, electronics and solar cell manufacturing, Sukhbir has offered to establish a Korean Park with plug and play facility to kick-start Korean investment in Punjab.
The developments, including an offer by Korea to engage with Punjab to finalise fields in which it could collaborate with the State, came during a meeting between Sukhbir and the Korean land, Infrastructure and Transport minister Kim Kyung Hwan.
Korean minister said that the Government would ask Korean companies, who had already invested in India, to explore investment options in Punjab. He said that Mohali was logically the most favourite place for investment due to its locational advantage vis-à-vis Delhi.
INVITES KOREA TO INVEST IN SMART CITIES
Sukhbir, on his part, invited the Korean Government to facilitate investment in smart cities in Punjab.
“The Government has decided to take up a project to create two smart cities at New Chandigarh and Mohali on its own. We are committed to move fast to facilitate investors who want to set up such cities,” said Sukhbir adding that the smart city project would also be a good opportunity for Korean companies to showcase their expertise.
Korean Minister said that Korea was keen to offer international cooperation in establishment of smart cities and that possible ways for collaboration with Punjab would be firmed in due course.
INVEST PUNJAB TO SETUP PERMANENT OFFICE IN SOUTH KOREA
Sukhbir also invited Korea to participate in Invest Punjab Summit being held in October end and become a partner State. He also stressed that this was the right time to invest in Punjab.
A memorandum of understanding (MoU) was also signed with Indian Chamber of Commerce in Korea (ICCK) to promote Korean investment in Punjab. As part of this MoU, Invest Punjab will establish a permanent representative office in South Korea.
CHINESE INVESTORS TO SET UP INDUSTRIAl ClUSTERS IN PUNJAB
Punjab Industries Mittal said that Chinese are all set to make “big bang investment” in Punjab and the state government has accepted, in principal, their proposal to set up an Industrial Cluster in State as a joint venture.
Mittal, referring to his recent seven-day China visit, said that he had visited main Chinese cities — Changsha, Schengen, Shanghai, Beijing — where he noticed complete Chinese admiration for India especially for Punjab and its investor friendly policies.
“The main industries of telecommunication, food processing, agriculture, biochemical plants, electronics have offered to set up their units in Punjab,” he said.
He informed that the Chinese equipment manufacturers for mobile telephone ZTE and Huwai have plans to add capacities in India and would shortly visit Punjab to explore investment opportunities.
Changsha high-tech Industrial Development Zone signed an MoU for setting up a cluster in Punjab. The state has 1000 acre land available for fresh investment and depending upon the requirement of investors can organise more, said Mittal.
Minister said that the Punjab government has already offered total support to Chinese investors and provided land bank as per their requirement. “The new Industrial Policy offers attractive opportunities to invest in the state. Package provides incentives of VAT and CST, stamp duty, property tax and electricity duty exemptions, besides additional incentives for specific sectors such as food processing, textiles and information technology,” said Mittal.
He said that the Chinese are keen to invest in India because they see a good prospective market in India. The investors can apply online to the government to set up any industry in Punjab and in case of any discrepancy, it could be rectified instantaneously online, he said.
CHINESE INVESTORS TO BE THE MAIN ATTRACTION IN INVESTORS’ SUMMIT
Mittal said that Chinese Investors’ Delegation would be the main attraction in Investors’ Summit saying that he expected a massive investment flow after his recent China visit. “The government to government interaction in Changsha was quite useful,” said.
With the setting up of Chinese industrial units in Punjab, lakhs of youth would get employment because we have qualified technocrats in Punjab. Punjab would be developed as a model state with such investments, said Mittal.