UP sets up desks to attract US, Korean & Japanese investors

Lucknow, May 14 (IANS) The Yogi Adityanath government has set up dedicated help desks at the Udyog Bandhu to facilitate investments from the USA, South Korea and Japan in UP, even as the state prepares to resume economic activities and industrial production post-lockdown.

Alok Tandon, Infrastructure and Industrial Development Commissioner (IIDC), said in a circular, here on Thursday, the Managing Director of the Pradeshiya Industrial and Investment Corporation of UP had been nominated the Chairperson of these help desks.

The Noida Additional Chief Executive Officer and two personnel of knowledge partner of Udyog Bandhu have been nominated as members.

The IIDC said the desks had been set up in view of coronavirus-induced global investor sentiment pointing to shifting of base by various firms out of China to other countries, especially India.

“With competitive and progressive investment-oriented policies in place, UP is ready to welcome new foreign investment with labour reforms and sector-specific policy interventions,” Tandon said.

The desks would function mainly to attract and facilitate investment from the US, South Korea and Japan, he added.

UP had huge potential for companies from these countries in the MSME, food processing, automobiles, IT and electronics, auto-components, defence sectors and big infrastructure projects, he said and added, it was the right time to grab the opportunities generated under the present scenario.

Investors from South Korea, Japan and the USA will be able to communicate on three distinct email IDs, which will be monitored by the Chairperson and the nominated members at Noida and Udyog Bandhu, the investment facilitation agency of the state government.

The issues received through these emails will be resolved under the guidance of senior officers of the Infrastructure and Industrial Development Department.

The UP government has initiated talks with the US, South Korea, Japan, Thailand and the European Union members as part of its efforts to attract companies to invest in the state, especially those looking to shift from China.

–IANS

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