Chandigarh: The thrust of the Progressive Punjab Investors Summit 2019 will be on the micro, small and medium enterprises (MSME) sector of Punjab and on companies from the United Arab Emirates (UAE) and Japan, said a top official on Monday.

The summit is to be held in Mohali on December 5 and 6. “The state government has identified MSME as a key focus growth sector. Through the MSME conclave during the investors summit, we intend to launch new initiatives. These include easy access to credit, creating new domestic and international market linkages, upgrading and developing critical infrastructure for MSMEs, and formulating processes to reduce regulatory burden on MSMEs,” said Vini Mahajan, additional chief secretary (investment promotion).

Punjab is home to over 2 lakh MSMEs and has been divided into sector-focused clusters. “Infrastructure at focal points is being upgraded for MSMEs. Special purpose vehicles have been created for operating and maintaining 18 focal points across Punjab,” she said.

The state government has claimed that Lulu Group, Emaar and Sharaf Group, along with other UAE-based firms, are looking to increase investment in the state. Lulu is also in talks to finalise agreements to support long-term procurement of fresh fruits and vegetables from the state. Emaar Group is looking to enter the food sector, and sourcing fresh fruits and vegetables from Punjab.

“Economic ties between the UAE and India have proven to be strategic for Punjab. Building on this exchange of dialogue, many leading business groups from UAE have visited Punjab and identified business and trade opportunities,” she added.

In case of Japan too, the Punjab government is in talks with Japan to identify new collaborations building on the strong ties that already exist between both parties.

Sessions in the summit will focus on the strength of complementary focus sectors of Punjab and Japan, opportunities for collaboration between Punjab and Japan which can be explored by the industry based in Punjab, and new initiatives in the pipeline and how those will support industrial and investment climate in the state.

Published On : 19-11-2019

Source : Times of India