Categories: Business

UP to set up agency for domestic investor

Photo: FILE PHOTO

Agency for domestic investors in UP

new Delhi. To help domestic investors in setting up industries and businesses in the state, the Yogi Adityanath government will set up an 'UP Invest Agency' under Udyog Bandhu. The agency will assist investors contacting the state government. The focus of this agency will be on identifying destinations, getting clearances and helping investors deal with other problems.

Cabinet approval is awaited to finalize the structure of the agency.

Uttar Pradesh Industries Minister Satish Mahana said, "Uttar Pradesh is gearing up to increase investment in the state by inviting both foreign and domestic investors. Earlier this month, we set up a help desk for three countries. The UP Invest Agency will be exclusively dedicated to domestic investors. The agency will operate under the Udyog Bandhu and each investor will be given a dedicated officer who will be responsible for the time the investor contacts the government and when the industry is set up. Will ensure transition smoothly.

The agency will also increasingly focus on investments, for which the government signed a memorandum of understanding (MoU) during the 2018 Investors Summit. The minister said that the government had signed MoUs worth more than Rs 4.28 lakh crore and started projects worth over Rs 1.20 lakh crore. Many other projects have also been started in these two years. The agency will now liaise with investors, with whom the MoU was signed and will see why the projects are pending. If they require any assistance, the agency will help them.

In early May, the government set up a four-member help desk at Udyog Bandhu to interact with investors in South Korea, Japan and Uttar Pradesh and provide solutions.

This post was published on May 31, 2020 6:40 pm

Content Team

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