NE DEVELOPMENT SUMMIT CONCLUDES

Source: http://morungexpress.com/ne-development-summit-concludes/

Manipur government signs as many as 39 MoUs with different firms

The two-day North East Development Summit, 2017 concluded with signing of as many as 39 Memorandums of Understanding (MoUs) between different firms/companies and Manipur Government.

Manipur Forest department signed four MoUs – two with HSMM Group for Agarwood plantation and production of essential oil, commercial production of orchids and essential oils. The department also signed MoU with NRL for production of biofuels from bamboo and with TRIFED for minimum support prices for minor forest produces. Higher Education Department signed MoU with M/s UNESCO Center (UK) for setting up a private university in Manipur. Finance Department signed MoU with INDO SWISS Center (Switzerland) for facilitating attracting investment, trade, tourism. Agriculture Department signed MoU with MSTC for e-marketing of agricultural produces from Manipur. Tourism Department signed MoU with Lao PDR for Development of tourism. Tourism Department also signed MoU with M/s Star Track Business House Pvt Ltd Mumbai for Infrastructure Development project for Rs. 50 crore. Manipur Police Housing Corporation (MPHC) signed MoU with M/s Fitzroy Salai Holdings, Kolkata for Cable Car Project.

In the morning session today, Deputy Chief of Mission, Embassy of Japan, Yutaka Kikuta said North East region of India is a place where Japan’s Free and Open Indo-Pacific Strategy and India’s Act East Policy converge.

Japan has placed importance on cooperation in North East Region, he stated, adding as of last year, of the 4,590 Japanese establishments in India, 64 are located in NE.

Yutaka Kikuta also stressed on certain issues hindering investment from Japanese companies and said limited physical infrastructure of the region is one. Another concern of the Japanese companies as well as the government of Japan is security situation, he said. Safety is the first priority and basic requirement when Japanese companies consider business and investment, he added.

According to him, the region can expect many Japanese companies once they have successfully faced the challenges for the region is abundant in talented human capital and natural resources. Stating that Japan is happy to discuss with relevant authorities to find solutions, he added, to expand trade and investments, it is also important to expand culture and people and people exchanges.

Department of Industrial Policy and Promotion Joint Secretary, Dr Vandana Kumar meanwhile expressed the need to create conducive business environment for the industry to flourish here. The region, she said, has a huge potential be it in organic farming, horticulture based industries, food processing industry, tourism, mineral based industries, and that the government of India will accord full support.

ASEAN-India Business Council Co-Chairman, Dato’ Ramesh Kodammal highlighting India’s close to 1.2 billion population and 650 million of ASEAN countries said this is a huge market which means the region has a huge opportunity to take advantage of it once we link the region to the market. He recommended organising NE India Development Summit to market the North East to the world. NE Summit should be conducted every year on a rotating basis in every State, he suggested. Kodammal also said without connectivity of business, businesses will not grow.

SBI Life Managing Director and CEO, Arijit Basu said connectivity is very important for business, but any growth in industry would also require the ability to market and ability to ensure that raw material move from one place to another for which road and rail connectivity will be crucial linkages.

Indian Council for Research on International Economic Relations (ICRIER) Director and Chief Executive, Dr. Rajat Kathuria said trade for peace is a great idea. He however said North East has not integrated much either with itself or with the rest of the country or the rest of the world. Further observing that the North East’s share in India’s trade with the ASEAN is about 1 percent, he stressed that is very low.