Odisha showcases business opportunities at India-Japan investment forum virtual conference

BHUBANESWAR: With an eye on Japanese investment in Odisha, the state government on Wednesday highlighted the business opportunities in the state at the India-Japan investment forum virtual conference organized by the Indian Chamber of Commerce (ICC). Joining the meeting, state industries minister Dibya Shankar Mishra said the state has many […]

BHUBANESWAR: With an eye on Japanese investment in Odisha, the state government on Wednesday highlighted the business opportunities in the state at the India-Japan investment forum virtual conference organized by the Indian Chamber of Commerce (ICC).
Joining the meeting, state industries minister Dibya Shankar Mishra said the state has many advantages such as stable governance, state-of-the-art industrial infrastructure, abundant natural resources and strategically placed coastline to attract investment from global investors.
“To support new industries planning to set up in the state, we have efficient single window system to facilitate all support to the investors in a time bound manner throughout the implementation of an investment project. A number of steps have been taken to streamline the investment process and to create a business-friendly environment,” said Mishra.
The minister and senior industries department officials virtually attended the India-Japan investment forum ahead of the third edition of the Make in Odisha (MIO) conclave, the largest investment summit of the state scheduled from November 30th to December 4th.
Even as the state government has adopted Japan as the country partner for the second edition of the MIO conclave, it has hardly received any significant investment proposals from Japanese investors in the past two years. The state government is likely to continue with Japan as country partner for the third edition as well, said official sources.
State industries secretary Hemanta Sharma, who was virtually present at the investors meet, said Odisha could be the most promising investment destination for countries like Japan with advantages like abundant natural resources, surplus availability of power at a cost lesser than many other industrialised states of India and a strategically located coastline, within reach of the Association of Southeast Asian Nations (ASEAN) markets.
“To attract investors from Japan, the state government has also offered investment-ready land spread over 3.53 square km near Bhubaneswar. The particular land parcel is a plug-and-play industrial land with a dedicated research lab, dormitories for employees and other facilities required for new industrial projects,” said Sharma.
For Japanese investors intending to set up petrochemical units, the state government said it has earmarked around 2500 acres of industry ready-to-set up plots near Paradip, the town that has one of the largest port and also home to a large crude oil refinery facility of Indian Oil Corporation Limited.
To attract Japanese investors to the state, the state government had organized a special Japan seminar during the second edition of the Make in Odisha conclave that was attended by several Japanese investors, officials from Indo-Japanese business forums and top Japanese diplomats.

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