Govt ensures security to investors in NE: Aiyar

Calling to private investors and Association of Southeast Asian Nations (ASEAN), Minister of Panchayti Raj, Mani Shankar Aiyar said that all private and foreign investors would be protected by the government who invest in the North Eastern states of India to put those states on the development path.

He was speaking on the inaugural day of a two-day Fourth Northeast Business Summit that began on Monday in Guwahati. The summit was inaugurated by the Vice President of India attended by several ambassadors and high commissioners of 12 countries including many potential investors.

“The northeast is safe for investors and both the Central and State governments are also committed to providing full security for projects,” said Aiyar, adding that NE is now on the road map of development to meet the target of India’s vision ‘Vision 2020’, which documentation was released by Prime Minister Manmohan Singh on July 2.

“Till recently there was no integrated road map for development of the region but with the release of the Vision 2020 document in July this lacuna has been corrected,” he said.

For achieving the target of ‘Vision 2020’, UPA government has hiked the total investment from current Rs.1,00,000-crore to 14,00,000-crore for the North East India. Laying attention on the absence of private sectors, Aiyar said, “Private sector needs to take greater interest in the region and of now only 0.5% of the capital formation of Private sector was coming to this region.”

While calling to ASEAN, Mani Shankar said, “Northeast had been a prisoner of its frontiers, he sought the cooperation of the ASEAN and neighbouring countries for freeing the region from the prisons of its frontiers.”

Ensuring the full protection of investors, he added, “The situation has dramatically improved over the years. If there is a problem in any area we will provide you project guarantee security. It is our commitment to you all. The state government will work in tandem with the Centre to finalise a strategy to this effect in consultation with the investor.”

While Vice President of India, Hamid Ansari said that now country should end the physical and commercial isolation of North East states and let’s join it on the path of development with the rest of the nation.

For the development of North Eastern region, Centre has made a policy ‘North-East Industrial Investment and Promotion Policy (NEIIPP)’ that provides liberal concessions and subsidies for the investors, said Vice president.

Centre has received as much as 68 investment proposals worth over US$ 1.5 billion that covers various economic sectors including agriculture, education, health care and tourism.

Emphasising 'Look East Policy' in the context of Vision 2020, Ansari feels the cooperation of North East region in all aspects such as political, economic with rest of the country is essential to meet the target.

Talking in broad context, Mr. Ansari complemented 'Look East Policy' with 'Look Around Policy' to forging closer economic and political ties with neighbouring countries in the SAARC region.

The two-day summit has been organised by the Department of North East Region (DoNER) in association with Indian Chamber of Commerce (ICC) Kolkata, where Governors and Chief Ministers of all North East were present on the inaugurating day of the seminar.