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Spl investment policy for NE likely
From Our Spl Correspondent
NEW DELHI, March 5 – A special industrial and investment promotion policy may in place in the region, but the inflow of Foreign Direct Investment (FDI) into the North-East has not been encouraging. During the last seven years, the North Eastern region attracted $ 1.44 million FDI. The country witnessed FDI inflows in the manufacturing sector to the tune of $ 19,038 million during April 2000 to December 2007. In the same period, inflows into the manufacturing sector in the North-East were $1.44 million, Minister of State for Commerce and Industry, Ashwani Kumar told the Rajya Sabha.

Government of India has put in place a liberal, transparent and investor friendly policy for FDI. Under the liberalised economic environment, the entrepreneurs based on techno-economic and commercial consideration take investment decisions, including choice of location. Government has announced North East Industrial and Investment Promotion Policy 2007.

Though the FDI inflow into the region was low, DoNER Ministry said that 42 proposals for Thai-North-East trade cooperation in investment and the Indian Chamber of Commerce, Kolkata, is on.

The proposals were outcome of the North East India Trade and Investment Opportunities Week held in Thailand last year. At least 10 MoUs were sealed, said Minister DoNER, Mani Shankar Aiyar.

One of the significant gains of the event was the NEDFi's MoU with India-Thai Business Forum. The seven-point MoU talks about exploring and facilitating trade and investment opportunities by creating a dedicated facilitation desk, source markets and create investment technology parks among others.

With this event, a significant beginning has been made and a platform for stronger bilateral economic relations and better economic understanding and exchange between the two countries has been created, the Minister said.

Further, discussion is being initiated with Australia, Singapore, ASEAN and UAE. There is an ongoing initiative with NRIs of the NER in the US. "It is essential that NER be projected as attractive FDI and trade destination world-wide and specifically under the Look East Policy.

FASS-NEDFi MoU signed
GUWAHATI, Jan 24 – The Friends of Assam and Seven Sisters (FASS)and the North Eastern Development Finance Corporation Ltd (NEDFi)[nedfi.com] recently signed an MoU for development of industries, infrastructure, animal husbandry, agri-horticulture plantation, medicinal plants, sericulture, aquaculture, poultry anddiry in the North Eastern Region. – Staff Reporter

(The Assam Tribune,25.01.2008)

For details go to: www.assamtribune.com

To know more about FASS & NEDFi please click here:
FASS: www.friendsofassam.org
NEDFi: www.nedfi.com

The North East Trade & Investment Opportunity Week was organized at Queen Sirikit Convention Centre at Bangkok from 1st to 4th October,07. In conjunction with the main seminar and bilateral meetings held at the Centre, an exhibition was also organized to showcase the diverse products and investment opportunities in the North East.

The entrepreneurs from North East India participated in the event and received huge response on their products, particularly in Bamboo processing, Medicinal & Aromatics, Handloom & Handicrafts, Food Processing, Tourism, Infrastructure etc.

A Memorandum of Agreement was signed between NEDFi, represented its Chairman and Managing Director Shri Kashi Nath Hazarika and India Thai Business Forum, represented by its Chairman Dato’ Satish Sehgal. The MOA will ensure facilitation of Thai Investors in the North East India by NEDFi and Joint venture support to North East India entrepreneurs.

During 9th to 13th January, 2008 Mr. Priya Butr, the Thai Dy Commerce Minister and Thai Business Forum Chairman Mr. Dato’ Satish Sehgal along with their delegation are expected to visit North Eastern Region. They are expected to visit Sikkim, Arunachal Pradesh and Assam and attend the NRI Investment Meet at Maniram Dewan Trade Centre, Guwahati, which will be held on 11th and 12th January,2008. NEDFi will be closely associated with the event.

This forum is an effort, which found its genesis in the North East India Investment Conference held in New York on September 26, 2007, the Ministry of Development of North Eastern Region (DONER), Govt. of India, has entrusted North Eastern Development Finance Corporation Ltd. (NEDFi) to set up a networking platform to develop individual and institutional connectivity. Hon’ble Minister, DONER, Shri Mani Shankar Aiyar and the Secretary, DONER, Ms Sushma Singh, have personally expressed keen interest in furthering this idea. We hope to enlarge the coverage and content of this forum in the coming months.