Delivering the keynote address during the Nagaland State roundtable session of the Northeast Global Investors Summit 2023 at the Rhododendron Hall, Police Complex, Chümoukedima, Rio said the state has a hardworking, enterprising and reliable workforce.
[bsa_pro_ad_space id=1]Nagaland has a pool of young talented minds, which is its greatest wealth, besides rich natural resources, and unique culture and traditions, making the state a potential investment destination, he said.
The investors’ roundtable was organised by the government of Nagaland in association with the ministry of Development of North Eastern Region (DoNER) on the theme “An Emerging Investment Destination” to promote Nagaland and Northeast region as a hub for trade and investment to global investors.
“Invest in Nagaland and invest in our shared future,” said Rio while sharing the state’s story of development and progress since attaining statehood in 1963.
The present government remains steadfast in its dynamic outlook, continuously striving to create an investment-friendly ecosystem, while formulating policies and incorporating good governance, he told the gathering.
The state has instituted the Investment and Development Authority of Nagaland (IDAN) dedicated to for investments and corporate social responsibility (CSR) programmes, he said, adding that it (IDAN) looks into corporate-friendly policies while functioning as a single window clearance and ensuring ease of doing business.
Rio said the state government has taken concrete steps to introduce new policies, laws and regulations to improve the investment climate, including suitable guidelines to ensure smooth and easy availability of land for those willing to invest in the state.
By focusing on comprehensive services and effective communication, we are facilitating the entire investment lifecycle, providing investors with the necessary support at every stage, he said.
What state has to offer
Investments in the field of entrepreneurship will not only result in generating revenue but also uplift the socio-economic and quality of life of the people tremendously, the CM told the gathering.
‘In our effort towards making Nagaland even more attractive as an investment destination, state government has proposed to establish a new modern, fully planned township of an area measuring around 39 sq. km. (3900 ha) adjoining the most important National Highway of the State-NH 29, which is also part of the Asian Highway 1,’ he informed.
Maintaining that Nagaland is the gateway to the South-East Asian countries by virtue of sharing boundary with Myanmar, he said the government is pursuing with the Centre for developing an Inland Waterway on Tizu-Zungki river, which help promote Indo-Myanmar trade and commerce and link with South-east Asian countries.
‘It’s worth the risk’
Speaking at the event, Deputy Chief Minister TR Zeliang acknowledged the risks and challenges involved in investment but said it can be overcome in due course of time. Investing in Nagaland is a risk worth taking, he told the gathering.
He said the participation of investors in the summit reflects their love for the people of Nagaland, their belief in its investment potential as well as commitment to forge meaningful partnerships to make the state prosperous and progressive.
He also expressed optimistic that the investment dialogue would pave the way for a substantial investment boom in Nagaland, even with its rugged and small size, in the years to come.
Besides the millions of metric ton of crude oil and deposits, which can be harnessed for economic development, he said the thriving education sector, opportunities in health and hospitality, IT, tourism, culture, sports, and music etc. are good reasons for investment.
While acknowledging that the long-standing Indo-Naga political issue has been hindering the state from prospering, he expressed hope it will be resolved soon under the leadership of Prime Minister Narendra Modi, after having signed the Framework Agreement and Agreed Position.
DoNER’s role in NE
Also speaking at the summit, Secretary of DoNER, Lok Ranjan, highlighted the limited resources of the ministry but said these limitations could be transformed into a wealth of opportunity in a resource-rich state like Nagaland.
He said that several states in the Northeast region have been outperforming national averages not only in social parameters but also in terms of financial growth, showcasing the region's potential and resilience in driving progress and development.
Maintaining that the ministry of DoNER prioritizes evidence-based decisions and objective assessments, he said it focuses on exploring opportunities in sectors such as primary, agricultural and allied, tourism, startups, and small to medium enterprises. The secretary of DoNER further mentioned that the ministry is actively fostering an ecosystem approach in collaboration with leading institutions for each sector and this approach is receiving positive responses and is expected to greatly benefit the states in the region.
Ranjan said the summit marks the initiation of sustained endeavours for the growth of the Northeast and its objective extends beyond promoting the welfare of individual entities.
Assuring the DoNER’s commitment despite limited resources, Rajan said the ministry would play a significant role in this transformative journey.
The investors’ roundtable also saw IDAN Chairman Abu Metha delivering the welcome address, Chief Secretary J. Alam spoke on ‘Nagaland an emerging investment destination’, and advisor of Industries and Commerce Hekani Jakhalu delivered the closing remark.
Several potential investors pitched proposals and plans that include setting up of training institute by Frankfinn Aviation Services Pvt. Limited; food courts by Devyani International Limited in PPP model along the National Highways; a 2,000-seater call centre by Vertex Global Services; a startup acceleration centre by Marwari Catalysts; and a food processing park by Millet Magic Foundation.