Japanese investment

Odisha pitches for Japanese investment

Bhubaneswar: In the India-Japan investment forum virtual conference organised by Indian Chambers of Commerce (ICC), the Odisha government on Wednesday listed out advantages to attract investment from the world’s third-largest economy.

The Industries department highlighted several advantages including stable governance, state-of-the-art industrial infrastructure, abundant natural resources and stratgeically placed coastline.

Steps taken to streamline the investment process and to create a business-friendly environment were outlined by Industries Minister Dibya Shankar Mishra.

 “To support new industries planning to set up in the state, we have efficent single window system which hand-holds them throughout the investment grounding process,” the minister said.

Dedicated Japanese manufacturing cluster

To attract investors from Japan, the state government offered 3.53 square kilometer industry-ready land 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.

For investors intending to set up petrochemical units, the state has 2500 acres of industrial ready-to-set up plots near Paradip port, also home to a large crude oil refinery facility of Indian Oil Corporation Limited, said Industries secretary Hemant Sharma.

 “With 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 ASEAN markets Odisha could be the most promising investment destination for countries like Japan,” added Sharma.