Pitching for investments from South Korean in Telangana, the State government has assured to extend all cooperation for the country’s industries in setting up their ventures here.
Industries and Information Technology Minister K.T. Rama Rao had a hectic day on Tuesday, meeting several leading industrialists on the second day of his visit to South Korea.
The Minister explained the salient features of policies like the TS-iPASS put in place by the government for according single window clearances for industrial ventures to promote accelerated industrial growth in the State.
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The Minister asked the Korean industry to consider investments in information technology, automobile, textile and pharmaceutical sectors in particular.
Mr. Rama Rao called on Hyundai Corporation working vice-president Nam Geunho and explained about the prospects the State held for automobile sector. He also called on green energy major OCI’s CEO WooHyun Lee and invited the firm to set up its venture here.
The delegation led by Mr. Rama Rao held detailed discussions with Mobile Internet Business Association of South Korea on the investment opportunities here. The association CEO Choi Dong Jin was invited to participate in the World IT Congress slated to be held here next month. The delegation entered into a memorandum of understanding with the Korean major for joint collaboration in internet of things, virtual reality and electronic manufacturing sectors, according to a press release.
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Mr. Rama Rao later called on representatives of textile associations and explained them about the government’s initiatives in promoting a mega textile park, Kakatiya Mega Taxtile Park, that was set to become an attractive investment destination in the coming days.
During his meeting with the Korea Dyeing and Finishing Institute chairman Yoon Nam Sik, Mr. Rama Rao sought the institution’s technical cooperation in human resource management, water treatment and other aspects of the proposed mega textile park.
The delegation comprising government’s advisor G. Vivek, IT department principal secretary Jayesh Ranjan and others visited Daegu metropolitan area as part of the visit, the press release stated.