Thailand investors urged to invest more in North-East region

Bangkok, Oct. 2 Even as India and Thailand are well on course for conclusion of the Free Trade Agreement (FTA) talks by March next, two Union Ministers and eight Ministers from North-Eastern States (including five Chief Ministers) today made out a strong case for investments in the N-E region by potential investors from Thailand.

Citing the age-old geographical and historical links with Thailand, which date back to nearly 1,200 years, investments were sought in infrastructure and agro-processing and horticulture industries.

Echoing similar seriousness, Mr Krik-Krai Jirapet, the Thailand Minister of Commerce, who had visited Tripura, Meghalaya and Assam, along with a large delegation in June last, committed himself to a repeat visit to the remaining five States of the North East.

Launching the four-day North East India Trade and Investment Opportunities programme in Bangkok today, Mr Mani Shankar Aiyar, Union Minister for Development of North Eastern Region (DONER), said all facilities, including a single window clearance, have been created to embrace Thai investments into the region. He said some $15 billion was waiting to be spent on roads development in the North-East in the next 10 years.

Mr Jirapet, on his part, said Thai investors were keen to invest in areas such as energy, infrastructure development, food-processing, textiles and so on. Stressing on the need to fill in the missing links to facilitate large investment flow, he said “this is why I need to cover all States of the N-E region”.

Air connectivity

Highlighting the need for establishing air connectivity between N-E cities and rest of India and also Bangkok directly, Mr Aiyar said the proposed dedicated North East Airlines would become operational by July 1, 2008. “In the meanwhile, we have extended our current arrangement with Alliance Air till 2008,” he pointed out.

Allaying fears over the insurgency and terrorist movements in the N-E region, he guaranteed Thai investors that utmost importance was being given to the security situation. He clarified that most of the States were peaceful, and problems crop up only in pockets. “I don’t think this issue should stand in the way of Thai investors,” he said.

Giving the highlights of the already notified NEIIPP (North East Industrial and Investment Policy Promotion) 2007 package, which assures tax incentives and other subsidies for all investors, Mr Ashwani Kumar, Union Minister of State for Industry, said this was the best ever package by the Government for development of N-E region, and urged Thai investors to take full advantage of this package.

“We stand committed to pump in billion of dollars into the North-Eastern region, to make the people of this part of India our partners in progress, and some $250 billion is going to be invested in infrastructure development alone in the next five years in the country, bulk of which may go for such works in the N-E region.”