Kerala now a 'destination of choice' for investors, says Pinarayi Vijayan

Dubai - Pinarayi Vijayan says the state has been relentlessly working to ensure that Kerala becomes a destination of choice for global investors.

Kerala is transforming into “a destination of choice” for global investors, says Chief Minister Pinarayi Vijayan, whose government has rolled out a series of investor-friendly reforms soon after coming to power for the second time in a row.

In his interview with Khaleej Times, the Kerala chief minister said a string of pro-investor reforms the ruling LDF has initiated include the creation of a single-window system to address investors’ grievances and concerns and clearance and vetting of investor proposals in a time-bound manner.

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On his government’s plans to woo new investors, Vijayan said the state has been relentlessly working to ensure that Kerala becomes a destination of choice for global investors. “I am happy to note that many top-line companies have come to Kerala, especially in the IT sector. There has been a boom in the startup ecosystem. It is true that we need to travel farther and faster. I am sure that the resilience that we have demonstrated in fighting the calamities and pandemic has caught the imagination of many.”

He said he had personally instructed officials to ensure that investor proposals need to be vetted and cleared in a time-bound manner.  “The single-window system that we have introduced to address investors’ grievances and concerns, and other pro-investor friendly initiatives, including auto-clearance of projects below a stipulated investment size, have a positive impact among entrepreneurs. The government is initiating steps to create awareness so that genuine investments are facilitated. We would certainly see positive results in the coming months.”

On how the cash-strapped state planned to get the funding required for the ambitious welfare and development programmes, the minister said the government had relied on debt for various development schemes. The Kerala Infrastructure Investment Fund Board as an organisation has become a role model for the country.  Taking loans for development is something that will help the state in the long run.