Assam woos investors; targets upto Rs 30,000 cr funds in 2 yrs

The Assam government invited investors to tap investment opportunities in the state and targets investment of Rs 20,000 crore to Rs 30,000 crore in next two years by promoting the north-eastern state as an Indian gateway to ASEAN countries.

Assam Chief Minister Sarbananda Sonowal was in the city today to attract investments to the state, taking advantage of its liberalised investment policies, ready-made infrastructure and improved business environment.

Sonowal was speaking at a media meet for the 'Advantage Assam: Global Investors' Summit 2018' scheduled for the February 3-4 next year in Guwahati.

To woo foreign investors, international roadshows have been organised at Toronto in Canada, New York and San Francisco in United States and London in United Kingdom, Sonowal said adding that a high level delegation from the state is currently organising roadshows in Japan, South Korea and Singapore.

"Our endeavour is to strengthen trade and industry relations with ASEAN nations. Assam has a geo-strategic advantage...to serve as the manufacturing and services hub for the ASEAN region, one of the world's fastest growing region with an economy of over USD 3 trillion," he said.

The CM said, the investment of over Rs 6,500 crore by major companies like ITC, Dabur, Hindustan Uniliver and others is an example of the state's improving business environment.

It has now set investment target of Rs 20,000- Rs 30,000 crore in the next two years' period, he added.

While drawing the attention of the prospective investors, chief minister Sonowal said that the summit will primarily focus on agriculture and food processing, handloom, textile and handicraft, tourism, hospitality and wellness, plastics and petrochemicals, power, pharmaceutical and medical devices, heavy industries, IT & ITeS, civil aviation, petroleum and natural gas as well as inland water transport, port township and river front development.

The government also sought investments in the power sector where said projects of 1901.5 MW are in the pipeline.

Addressing the gathering, Sonowal said, "We have recently formulated seven critical policies seeking investments.