National

Kerala expects to see investment of Rs 1 lakh cr from ASCEND 2020: Pinarayi Vijayan

Kochi | Updated on January 10, 2020 Published on January 10, 2020

Pinarayi Vijayan. File photo   -  THE HINDU

Kerala expects to see fresh investment of Rs 1 lakh-crore, going by entrepreneur feedback received at the ASCEND 2020 Global Investors’ Meet, Chief Minister Pinarayi Vijayan said at the conclusion of the event.

Of this, Rs 98,708 crore would come as direct promise made during the two-day event, while “a couple of entrepreneurs whom we happened to miss” at the event have expressed their willingness to invest, the Chief Minister said.

Overall, the event received 164 investment proposals. Kerala Infrastructure Management Ltd has promised investment of Rs 8,110 crore, while the Abu Dhabi Investment Authority has promised investments of Rs 66,900 crore.

A team led by Principal Secretary (Industries), K. Ellangovan, would meet the prospective investors individually, the Chief Minister said.

Complaints against top officers who are indifferent or negative in their response to industrial investments, would be treated seriously, he said, adding a meeting would be convened to sort out the matter by facilitating interactions between top bureaucrats and representatives of the investment community.

Noting that the government would accord priority to completing the projects proposed, Vijayan said the government needed skilled labour across sectors. “We are in talks with various universities to improve the standard of Kerala’s courses in skills,” he added.

The government would pay special attention to the investment proposals received from MSMEs, while care would be taken to avoid projects that have a negative ecological impact. The government has convened a meeting of local administration presidents and secretaries on January 21, the Chief Minister said.

Published on January 10, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.