The Hindu : Tamil Nadu / Chennai News : Exclusive SEZ sought for Taiwanese firms

Online edition of India's National Newspaper
Friday, Nov 03, 2006
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Tamil Nadu

Tamil Nadu - Chennai

Exclusive SEZ sought for Taiwanese firms

Special Correspondent

Investment mission calls on senior State officials

CHENNAI : Taiwan looks forward to the creation of a special economic zone exclusively for its small and medium enterprises in Tamil Nadu and a special desk for facilitating such investments.

Implementation of these suggestions, made by a visiting Taiwan investment mission during its interaction with senior officials of the State Government on Thursday, could see a swell in investments, said Taiwanese legislator Suo-Hang Chuang.

Briefing mediapersons, Mr. Chuang, advisor to the mission, said SMEs accounted for an overwhelming majority of Taiwan's economy and many were potential investors in Tamil Nadu. A special desk to handle their queries and serve as a single window agency was necessary, since the language and culture were obstacles.

Asked whether any other country provided such facilities to the Taiwanese investors, he said Vietnam and the Philippines did, subsequent to which the investments increased. He said Taiwan's decision to invest in India was driven by its desire to minimise the risks associated with concentrating all its investments in China. "Putting all eggs in the same basket is very dangerous," he declared.

Investment survey

Mr. Chuang, who also addressed a meeting organised by Southern India Chamber of Commerce and Industry and Taiwan External Trade Development Council, said the focal point of the Taiwanese investors was Tamil Nadu.

While Formosa Plastics Group, the largest private company in Taiwan, had commissioned a survey to explore the opportunities of establishing a power plant in the State, Asustek Computer Inc. was evaluating the prospects of setting up a manufacturing facility for mother boards.

Addressing the meeting organised by SICCI and the Council, Tamil Nadu Industries Secretary Shaktikanta Das said the State Government would consider the suggestions pertaining to the SEZ and the special desk. He said Tamil Nadu had an investor-friendly Government. The mission leader and director-general of the Taiwan Department of Investment Berton B.C. Chiu said Taiwan and India should explore the possibility of a free trade agreement. A presentation made by an executive of his department said information and communication technologies, automobiles, textiles and electrical machinery were some of the areas identified by Taiwan for expanding bilateral ties with India.

While Taiwanese legislator Shui-Sheng Hou and SICCI vice-president M. Balasubramanian underscored the importance of improving the ties, Spel Semiconductors Limited chief operating officer D. Balakrishnan made a presentation on the opportunities in the field of electronic manufacturing.

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