Chinese province invites IT investors

BANGALORE NOV. 13. A Chinese delegation today extended an invitation to entrepreneurs in Karnataka to explore opportunities for investment in information technology (IT) in Jiangsu Province.

Addressing presspersons after signing a memorandum of understanding (MoU) with the State Legislature, Li Peiyou, Vice-Chairman, Standing Committee of Jiangsu Provincial People's Congress of China, said that Karnataka was known worldwide for the development of IT, and entrepreneurs from the State could invest in his province to boost trade ties between the two countries. "There is a rich potential for bilateral trade relations between Karnataka and Jiangsu Province," he said.

B.L. Shankar, Chairman, Legislative Council, M.V. Venkatappa, Speaker, Legislative Assembly, and Li Peiyou, signed the MoU.

Mr. Shankar said the Legislature had signed the agreement with the province to promote cooperation in sectors such as economy, science and technology, agriculture, education, and culture, with the approval of the Union Government, wherever necessary.

The agreement would encourage technical and professional exchanges. "The Legislature and the Standing Committee have agreed to intensify the exchange programmes of professional delegations, whose expenses, in principle, shall be on their own accounts while assistance shall be provided by the host to facilitate the visits," according to the MoU. Mr. Shankar said a delegation led by the Minister for Health, Kagodu Thimmappa, visited China two years ago. The Chinese delegation was here on a reciprocal visit.