The Hindu : Tamil Nadu / Chennai News : Focus on attracting Malaysian investors

Online edition of India's National Newspaper
Saturday, Mar 04, 2006

Tamil Nadu

Tamil Nadu - Chennai

Focus on attracting Malaysian investors

Special Correspondent

Permission granted to 70 private builders to construct IT parks in the State

TALKING BUSINESS: Malaysian delegates interacting with industrialists in Chennai on Friday. — Photo: K.V. Srinivasan

CHENNAI: The Tamil Nadu Industrial Development Corporation (TIDCO) has accorded permission for 70 private builders to construct Information Technology Parks in the State.

TIDCO would be willing to tap potential investors from Malaysia in the thrust areas of IT and IT Enabled Services, agro and herbal export products and biotechnology.

K.R. Viswanathan, Senior General Manager, TIDCO, who made a presentation on Tamil Nadu as an "ideal investment destination" before a 21-member Malaysian business delegation, which was on a one-day visit to Chennai, explained how the State had emerged as a favoured destination for top ranking global and national level companies of IT, telecom, automobile, pharmaceuticals and health care services.

He also listed out the pro-active measures initiated by the State Government in attracting foreign direct investments (FDI).

Long-standing ties

Outlining the long-standing trade ties between India and Malaysia, and Malaysia's cordial relationship with Chennai because of its close proximity, Mr. Viswanathan said the 21.2 km prestigious IT corridor 6-lane road project had been bagged by a Malaysian consortium company, which was now engaged in the work.

Mr. Viswanathan was speaking at an interactive session organised by the Confederation of Indian Industry (CII) with the visiting delegation.

The visit has been arranged with the help of the Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) jointly with the National SMI Consultative Centre (NASMIC) and SMI Malaysia.

Speaking on `Trade and Business Opportunities in Malaysia,' Deputy President of MAICCI, V. Muthusamy, said the business delegation members representing property developers, education, automotive components, IT-related programmes, and biotechnology, took pride to be in Chennai after visiting Delhi and Kolkata to expand their business opportunities.

Investments

R. Ramamurthy, member, CII National Council, outlining the key objectives of the Malaysian delegation visit said they were here to explore and expand trade and investment opportunities for Malaysian products and services in India, to explore alternative and more competitive sources of imports for Malaysia, and to provide an avenue for the Malaysian business sector and their foreign counterparts to explore opportunities for joint-venture projects.

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