Rio optimistic B20 will open opportunities for Nagaland

April 4, 2023 17 Views No Comment

Morung Express News
Dimapur | April 4

Given a situation of little or no foreign investment, Chief Minister Neiphiu Rio was optimistic of the upcoming Business 20 (B20) Summit in Kohima opening up doors. Rio addressed a press conference in Chümoukedima on April 3 highlighting the preparations underway for hosting the business summit, which is “the official G20 dialogue forum with the global business community,” and the investment opportunities it would open up.

The summit is scheduled from April 4-6 with the main events occurring on April 5 and 6. Union Minister of State for External Affairs Dr Rajkumar Ranjan Singh and Union Minister of State for Commerce and Industry, Som Parkash are also listed as guests in the inaugural session. It will see as many as 64 overseas delegates from 29 countries and diplomatic delegations from 8 countries huddling with the business and government entities.

According to Rio, barring “some investment by the ADB (Asian Development Bank),” the state has hardly any investment from other investors at present. With Nagaland’s Credit Deposit Ratio hovering at around 50 percent against the country average of 65-70 percent, he expressed hope that the Summit would serve as an impetus for credit from the banks for entrepreneurial growth.

As far as preparations were concerned, he informed that the state government is making elaborate arrangements to not only showcase investment and partnership opportunities “but also provide a unique experience for the visiting delegates” by introducing them to Nagaland’s culture, local cuisine, art, festivities and scenic beauty.

While informing that “focused Trade and Business delegations” from Bhutan, Bangladesh, Iceland, Japan and UAE will also participate, Rio appreciated the Confederation of Indian Industry (CII) for facilitating the Business to Business (B2B) and Business to Government (B2G) meetings.

The summit would facilitate interactions between the local industry and the foreign delegates for exploring potential investment opportunities, collaboration and tie-ups in sectors like Tourism, Commerce and Industries, Agriculture, Horticulture, Healthcare and Food Processing, IT and various other sectors.

Taking advantage of the presence of international delegates, Rio added that the state government booklet highlighting state statistics, policy environment and investable projects in the state which will be shared with the delegates.

While stating that the government and the CII will work together to follow-up and facilitate investment in the state, he said, “We are confident that CII with all their connections worldwide will be able to garner investments to Nagaland.”

Rio said that Nagaland has potential to grow economically but certain unresolved issues have set back growth. He reminded of the bid to establish a Special Economic Zone in the foothills, which however faced stiff opposition from land owners. He though added that the government is still pursuing the matter and hope an opportunity would come.

“There is not one industry and there is no manufacturing sector and we don’t have even big (specialized human resource) institutions,” he said. Nevertheless, he informed that the state government is pursuing with the Central government for establishing an Indian Institute of Science Education and Research (IISER).

Consultation with civil orgs on new a Municipal Act

The state government is also mulling further consultations with the civil society organisations, including the tribal bodies and women organisations, on the issue of the now shelved elections to the Urban Local Bodies. As told by the Chief Minister Neiphiu Rio at the press conference, the state Cabinet will be sitting on April 6 to discuss on the matter.

He maintained that the Nagaland Municipal Act of 2001 was repealed in the face of opposition from the civil society organisations and tribal hohos, who contested that the Constitutional Amendment introducing reservation of seats for women, infringed the rights guaranteed in Article 371 (A). “Therefore we decided that we should repeal and discuss so that we can come out (with one) which is acceptable,” he said.

He however did not give a timeline on how long it would likely take to enact a new Municipal Act. He said, “We have to make the people understand so that we come to a consensus and a workable solution.”