Business News Update

Kerala investor meet ends with promises of about Rs 1 lakh cr

Kerala CM to launch Super Fab Lab on Saturday

Kochi: Kerala Chief Minister Pinarayi Vijayan on Friday said that the two day investor meet ‘Ascend 2020’, organised by the state government, has received investment promises to the tune of Rs 98,708 crore have been made.

” Going by entrepreneur feedback, Rs 98,708 crores comes in as direct promise, while there are a couple of entrepreneurs whom we happened to miss at the event but have expressed their willingness to invest,” he said at the valedictory session of the event to huge cheers.

Overall, the two-day event received 164 investment proposals, with the single biggest promise came from the Abu Dhabi Investment Authority of investments over Rs 66,000 crore, besides various other projects worth Rs 32,008 crore from numerous other prospective investors. Vijayan said that the government plans to meet the prospective investors individually and a team has been entrusted with this task.

“The government will seriously consider complaints against top officers who are indifferent or negative in their response to industrial investments. A meeting will be convened to sort out the matter by facilitating interaction between top bureaucrats and representatives of the investment community. There would not be any intermediaries between prospective entrepreneurs. One can apply directly at several levels starting from the village office to the Chief Minister’s Office,” he added.