Assam looking to woo foreign investors pulling out of China

Assam looking to woo foreign investors pulling out of China

Agency News

Guwahati, May 6: With American, Japanese and Korean companies reportedly contemplating pulling out of China, the Assam government is working to woo these companies and pursuing the government of India to present the state as a preferred destination for the foreign investors. The state government is also urging the Central government to consider Assam for one of the three mega pharmaceutical parks being planned.

At a press conference here today, state Industry and Commerce Minister Chandra Mohan Patowary said, “It is going around that many American, Japanese and Korean companies are contemplating to shift their production facilities from China to India. Our chief minister has written to Industry and Commerce Minister Piyush Goyal at the Centre to present Assam as a destination for these companies.”

To woo these companies, Assam Government has taken up with Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, Invest India, Japan External Trade Organisation (JETRO), US-India Business Council and US Chamber of Commerce to facilitate and advise those companies to setup their production facilities in Assam as the State has strategic locational advantage, vast natural resources, robust industrial infrastructure and reliable connectivity etc., he added.

Patowary said his department had engaged Ernst & Young (E&Y) to study and assess the impact of lockdown on the industrial sector in Assam and suggest policy framework to attract industries planning to move out of China. (UNI)