Nagaland govt woos investors, assures it is ‘worth risk taking’

Morung Express News
Chümoukedima | June 4

Nagaland today wooed investors with promise of effective single point for investment promotion and new township, among others, while noting that while investment in the State involves risks and challenges, it is “worth taking risk.” 

Hosting the State Round Table of the North East Global Investors Summit, 2023 along with the Government of Nagaland here at Rhododendron Hall, Police Complex, Chümoukedima, in association with the Ministry of Development of North Eastern Region (MDoNER), Chief Minister Neiphiu Rio led with the wooing. 

The meet is an opportunity for to explore trade and investment potential of the State, Rio stated, communicating to the investors present that it “signifies the collective commitment and concern towards the growth and development of Nagaland and the North-East.

The present government has a dynamic outlook to keep pace with the growth of other States in the country and is continuously making efforts for the creation of investment friendly ecosystem in Nagaland, he informed. 

The efforts include concrete steps to introduce new policies, laws and regulations to improve the investment climate and a dedicated government agency for investments and CSR programmes, in the form of Investment & Development Authority of Nagaland, he said.

IDAN is pushing investment and corporate friendly policies while functioning as a single window clearance and ensuring ease of doing business, he highlighted. 

An effective single point for investment promotion for the State is also being streamlined with an aim to effectively elicit ease of doing business, Rio said. 

Meanwhile, noting that lack of policy advocacy discouraging new investors and existing investors looking to expand their operations, he said that a more vibrant and functional mechanism that encourages investors to resolve administrative barriers is being established.

With rich natural resources, unique culture and traditions, flora and fauna and a pool of young talented minds, Nagaland offers attractive package for investment, he further advocated. 

Enterprising Nagas moved past the traditional mindset and attitudes, towards venturing into unconventional career paths and these young people have the potential to be creators of jobs, disrupt status quo making Nagaland a commercial economic power hub, he highlighted.

To make Nagaland even more attractive as an investment destination, the government is also pursuing with the Central government for development of an Inland Waterway on Tizu-Zungki river, the only east flowing river in the State and draining into Myanmar, he added.

Deputy Chief Minister, Planning and Transformation, TR Zeliang acknowledged that investment involves risks and challenges but underscored with confidence that investing in Nagaland is worth taking risk.

Our government is sincerely working to facilitate investors. Towards this endeavour, we have adopted several investors friendly policies, streamlined our administrative procedures and improve security measures, he said. 

We also value transparency and accountability in order to ensure seamless experience for the investors, he claimed.

Wooing the investors, he maintained that Nagaland stands on the top of millions of metric ton of crude oil and mineral deposits, which is only waiting to be tapped. 

Besides, investors can also take advantage of the huge potentials that lies in human resources, education sector, health and hospitality sector, IT, tourism, culture, sports and music of the Nagas, he said. 

Meanwhile, IDAN chairman Abu Metha took the attendees through the vibrant cultural heritage of Nagaland, its resources, and the agricultural strength of the State.  

Nagaland has emerged as an attractive hub for investment across various sectors, formulated robust policies, incentives, and we are creating an investor-friendly ecosystem established by the government, Metha highlighted.  

A DIPR report further informed that various discussions ensued with the arrival of the investors at Zone Niathu on June 2. During the brief meetings, the investors were introduced to various government departments to explore ways for collaboration and partnership. 

Some prospective sectors covered include solar energy, marketing agro produce particularly millets, skill development in aviation, etc.

A closed-door meeting was also held between the Central government and State government officials to discuss further key focus areas for investment which was chaired by the Chief Secretary, J Alam.

During the meeting, he highlighted major projects that are ongoing and, in the pipeline, as well as 18 identified potential areas- food processing and agro-produce, sericulture production, mineral-based industries, tourism, handloom and handicraft, floriculture, and bamboo-based industries being some of them. 

The meeting also pointed out several challenges and constraints, some being unique to the State; namely the State’s land holding system, the need for the development of border areas, power deficit among the other infrastructural, human resource, and credit-related issues, the report said. 

Some of the recommended areas highlighted by the participants at the closed-door meeting were the feasibility and the potential of exploring the extraction of pineapple fiber, plug-and-play facilities, setting up of hotels, agro-based processing centers, storage facilities, etc.  

Lok Ranjan, Secretary, DoNER at the meeting encouraged the State to proactively explore investment opportunities and provide an ecosystem and service that’s conducive to investment, the report added. 

The Investors Roundtable was jointly organised by the Department of Industries & Commerce and Investment Development Authority of Nagaland in association with FICCI (Industry Partner), Invest India (Investment Facilitation Partner), and EY (Knowledge Partner).