The Hindu Business Line : Japanese investors upbeat on Bengal

EMBOLDENED by the success of Mitsubishi Corporation's Haldia PET project, a section of private Japanese investors in diverse business fields is keen on making fresh investments in West Bengal.

These investors believe the State's political stability, its encouraging law and order situation and the investor-friendly industrial policies of the local government are conducive to investments in the State.

Highlighting this at a meeting on `West Bengal - Emerging as Business Hub', organised by the Bengal National Chamber of Commerce & Industry (BNCCI) here on Tuesday, the Japanese Consul General in Kolkata, Mr Kenji Shimizu, said the State's image had improved a lot compared to what it was a few years ago.

"It appears to me that West Bengal is making sincere efforts to turn around," Mr Shimizu said.

The Japanese Consul said West Bengal enjoyed a double advantage in the Asia Pacific region because of its geological location. In addition to IT and IT-enabled services, the State has potential in manufacturing and distribution, he said. However, he said the State would do well to pay more attention to developing infrastructure to meet world standards.

In fact, Japan is already engaged in developing infrastructure and power projects in the State. Mr Shimizu indicated that fresh private Japanese investment would enter the sector in the near future.

He said Japan considered West Bengal the cultural and knowledge capital of India. The State was once very strong in industry but lost that position owing to various reasons. Japanese investors are convinced that the State is "re-emerging" in the manufacturing sector.

Sharing Mr Shimizu's view on West Bengal, the Consul General of Thailand, Mr Wanna Perngmark, said there was ample scope for close co-operation between Thailand and West Bengal, particularly in areas such as healthcare, education, IT and food and fruit processing.

Mr Wanna said, once a permanent trade fair centre is ready, many Thai companies would come here to exhibit their products.

Mr Wanna said many Thai companies were keen on investing in the infrastructure sector in the Sate.

In reply to a question, he said trade between Thailand and India would be duty-free on all the agreed items in the FTA by 2006. Under the first harvest scheme, 82 items are to be traded, attracting only 50 per cent duty on the duty percentage last year.

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