Naveen stresses on creating investment regions

Chief minister Naveen Patnaik on Friday stressed on creating new investment regions to help maintain tempo of economic growth in the state.

"The focus now is clearly on creation of iconic industrial regions such as Petrochemicals investment region at Paradip and information technology investment region (ITIR) in Bhubaneswar”, said Patnaik.

It may be noted that state government is planning an IT investment region to be developed on an area of 40 sq km (around 10,000 acres) between Bhubaneswar and Khurda. The implementation of the proposed ITIR will involve a cost of Rs 17,883 crore. Similarly, PCPIR project in the state would be set up on 284.15 sq km (70,214 acres) of land spread over Jagatsinghpur and Kendrapara districts and is expected to attract investments to the tune of Rs 2.74 lakh crore.He was speaking at the inaugural ceremony of 17th Enterprise Odisha-'Reviving Economic Growth through Reforms and Governance' organized by Odisha chapter of Confederation of Indian Industry(CII) in association with the state government.

Patnaik said, “The Odisha government is aware about the industry’s needs and has pro-actively brought about a number of reforms to simplify the policies and procedures to ensure ease of doing business and a favorable investment climate.”

Patnaik also indicated his government's shift of focus to attract investments in non-core industries.

“Even though these are difficult times, we are looking forward to attract investments in the non-core sectors such as food processing, auto and auto components , IT/ITes, tourism and hospitality, ancillary and downstream industries , biotechnology and pharmaceutical and others”, he said.