Chennai: The much-awaited second edition of the Global Investors Meet is all set to begin in the city tomorrow, with elaborate arrangements being made to host the grand event. The purpose of the GIM is to facilitate meetings of investors from abroad and India, besides public sector companies, and to make them invest in Tamilnadu. In the meeting, MOUs are to be signed between various companies and the State government.
Sources said the government has allocated Rs 75 crore to conduct the event, where over 250 stalls will be setup by investors and partner countries to showcase their products and services.
“The website for GIM was opened on 2 July 2018 and 900 people have registered through online registration,” sources added.
This year’s GIM is expected to focus more on micro, small and medium enterprises (MSMEs) and affirming this, Chief Minister Edappadi K Palaniswami recently said the State government’s single-window portal for MSMEs was ensuring time-bound processing of applications and issue of clearances by various departments.
“Representatives from England, France, Korea, Japan, Australia and Singapore, will take part in the meet. The government will accommodate them. 260 MOUs are expected to be generated. Around 2.52 lakh crore is the expected investment from the MOUs. But how much will eventually come depends on what the investors agree and finalise,” sources added.
The Cabinet meeting was recently convened to discuss investment proposals by various companies. It is said the government has already cleared more than Rs 50,000 crore worth of investment proposals in the State in the last two months.
In the recently concluded Assembly session, Palaniswami said proposals of 27 companies that would be expanding its operations in Tamilnadu had been approved. “These companies are expected to generate job opportunities for about 50,000 people,” he said.
Officials are also working round the clock to confirm the deals that are made in the last minute. The Global Investors Meet was the pet project of former Chief Minister J Jayalalithaa. During the first edition of the event in 2015, the State managed to attract investments to the tune of Rs 2.42 lakh crore. The conversion rate was around 30 per cent last time, and the officials are hoping to have a higher results this time.
FOCUS IS ON JOB CREATION
CII Tamilnadu, chairman, M Ponnuswami said the first question the government asks an investor is about the job creating potential.
Sources said the focus during this year’s GIM will be on 12 sectors including automobile, textiles, aerospace, agro and food processing, pharmaceutical and chemicals. This year’s GIM will also concentrate on new areas like tourism, housing and construction and even schools.
| NEW POLICY TO BE RELEASED TOMORROW |
| The inaugural function will be held tomorrow at 10 am in which Chief Minister Edappadi K Palaniswami will be the chief guest. Union Minister of Defence, Nirmala Sitharaman and Deputy Chief Minister O Panneerselvam will be guests of honour. Nirmala Sitharaman will release the Tamilnadu Aerospace and Defence Industrial Policy 2019.The valedictory function will be held on 24 January at 3 pm. Vice President, M Venkaiah Naidu will be the chief guest.Union Minister of State for Finance and Shipping Pon Radhakrishnan, Palaniswami and Panneerselvam will be the guests of honour. |
Photo: K VIJAY ANAND & B ANAND