To entice investors to Odisha, chief minister Naveen Patnaik is to travel to Japan in the first week of April, according to official sources. “The CM is getting ready to leave on a little trip to Japan. To increase foreign investment here, he might meet some influential investors there “a government representative stated.
In its most recent two iterations in 2018 and 2022, Made in Odisha (MIO) has included Japan as one of its international partners. The team lead by the CM will highlight Odisha’s investment potential and welcoming policies to draw investments outside of textiles, clothing, and tourism in industries like food processing, chemicals, plastics, and petrochemicals. In August of last year, Naveen spoke at a symposium on international investment in Dubai, where Odisha had received investment bids worth around Rs.22,000/- Crore.
Odisha is far ahead of the national average of 22% in transforming intentions into actual investments, industries minister Pratap Keshari Deb told the assembly on Friday, with 45% of the intentions in the first two MIOs held in 2016 and 2018 turning into actual investments. During the question and answer period, BJD Legislator Debi Prasad Mishra asked the industry minister about how Odisha has become a popular investment location due to its political stability and favourable economic climate.
Deb stated that 58 of the 84 business intents received in the first MIO in 2016 had been approved by the government. 36 of their suggestions were supported. Four projects are already finished, while eight more are almost finished. Similar to this, in 2018 the government approved 109 of 202 proposals.
The reported value of Rs 2.03 lakh crore was greater than the actual investment size for the 2016 event, which was Rs 2.17 lakh crore. A total of Rs. 2.92 lakh crore was already grounded out of the Rs. 4.23 lakh crore declared for the second season. The grounded initiatives in the two business events have a potential employment of 3.2 lakh persons. Odisha received 741 bids for the third and most recent MIO 2022, which was held last year, proposing an investment of Rs 10.48 lakh crore that could create 10.37 lakh jobs. In addition to business summits, the government has used the single window clearance procedure to accept about 50 investment applications in the Gajapati and Kandhamal regions as well as the Kalahandi-Balagir-Koraput (KBK) region. Eleven of them had either fully or partially developed into functioning units.
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