To attract investors, Himachal Pradesh to set-up Investment Promotion-Facilitation Bureau

Chief Minister of Himachal Pradesh Sukhvinder Singh Sukhu said the government is actively working towards expediting stalled investment projects and attracting new investments.

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu addresses the gathering during his interaction with investors in Shimla. | Photo Credit: Special Arrangement

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on June 7 said the State government intends to establish a dedicated Investment Promotion and Facilitation Bureau to ease out modalities for potential investors in the State.

Mr. Sukhu who in Shimla held deliberations with stakeholders of industries and tourism sectors hailing from Solan district, stressed that bringing substantial investments into the State is crucial for generating employment opportunities for the youth, besides increasing revenue to the State exchequer.

“The government plans to establish a dedicated Investment Promotion and Facilitation Bureau to support and facilitate investment on the ground. Actual investments are more important rather than getting caught up in paperwork. The bureau will streamline the process by providing a single platform for potential investors to obtain all necessary clearances within a specified time frame,” he said, adding Himachal Pradesh is known for its abundant electricity and water supply which provides a conducive environment for investment.

“The government’s focus was on strengthening existing industrial areas. We are committed to supporting the early implementation of projects and fostering economic development in the State. Incentives are being offered to investors in the proposed ‘Bulk Drug Park’ and ‘Medical Device Park’ in the state. “The State government is actively developing infrastructure for these mega projects,” he added.

The Chief Minister said that the government is actively working towards expediting stalled investment projects and attracting new investments. “We are focussing on making Himachal Pradesh a ‘Green Energy State’. The government intends to introduce the country’s first ‘Green Hydrogen Policy’ to promote sustainable practices and develop six ‘Green Corridors’ for Electric Vehicles (EVs) across the State,” he said.

Industries Minister Harshwardhan Chauhan said that the State government plans to establish a “land bank” soon, aimed at simplifying the process for investors to select suitable land.