CM Vijay to lead Chennai investor summit; Rs 67,452 crore MoUs on cards

Chennai, Aug 13 (IANS) The Tamil Nadu government will host the Vetri Tamil Nadu Investors’ Summit in Chennai on Thursday as part of its ambitious drive to attract industrial investments worth more than Rs 1 lakh crore within its first 100 days in office.

Chief Minister C. Joseph Vijay will preside over the summit in Guindy. Senior government officials, leading industrialists, investors and representatives of major companies are expected to participate.

During the event, the state government will sign memoranda of understanding with 97 companies. The proposed projects are expected to bring investments totalling Rs 67,452 crore to Tamil Nadu and generate 1,06,998 employment opportunities across various sectors.

The summit comes as the TVK government completes 96 days in office. Since assuming power, the government has introduced a series of administrative reforms while placing industrial development, employment generation and investment promotion among its principal priorities.

Joseph Vijay took the oath as Tamil Nadu’s 12th Chief Minister on May 10 after his party emerged victorious in the election to the 17th Legislative Assembly. The government has since stepped up engagements with domestic and international companies to present Tamil Nadu as a preferred destination for manufacturing, technology and service-sector investments.

Including the industrial agreements concluded during the past three months, the government expects to sign a total of 104 MoUs within its first 100 days. Together, these agreements envisage investments of Rs 1,02,514 crore and the creation of 1,21,788 jobs.

The latest round of agreements is expected to account for the overwhelming share of the government’s investment commitments so far.

Officials believe the projects will strengthen Tamil Nadu’s industrial base while creating employment for skilled workers, graduates and young jobseekers.

The government is also expected to outline the steps it will take to ensure that the proposed projects move swiftly from the agreement stage to implementation.

These could include faster clearances, coordinated assistance from departments and continued engagement with investors.

Thursday’s summit is being projected as an important milestone for the new government, which is seeking to demonstrate its ability to attract large-scale investments within a short period. Details of the participating companies, proposed locations and sector-wise investments are expected to be announced at the event.

–IANS

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