Chinese govt offers coop for JVs with Indians

Zhengzhou (Henan), Sep 8 (UNI) Expressing keenness to take Indo-Henan trade ties to fresh heights, the Chinese province's Governor Li Chengyu has offered cooperation between Indian and Henan entrepreneurs to set up joint ventures.

He named software and pharmaceuticals as among areas that promise ''good opportunity'' for such arrangements.

''India is a strong player in software, R&D and medicine manufacturing. We both can work towards improving standards in developing new medicine. This can be one of the sectors for cooperation,'' he told an Indian press delegation here last evening.

Besides, the Governor said Henan is ''very much interested in Indian mineral resources. We can cooperate in iron and bauxite.

Since Henan is importing mineral from Latin America and Australia, which involves higher transportation cost, we sincerely desire India's cooperation for mutual benefit in this sector.'' He felt the possibility of India-Henan JVs in food processing and mineral resources-based industry could be explored.

As regards investment into India and vice versa, Mr Chengyu explained that if a project is below 30 million dollars, local governments are authorised to approve it but the Commerce Ministry's nod is mandatory for investment exceeding that figure.

Steps had been taken to ensure early approval for projects to be set up in Henan for advantaging entrepreneurs of both countries.

Projects complying with industrial and commerce departments' guidelines, will get a green signal after 'single-roof' appraisal by officials of departments concerned provided all norms are fulfilled.

The Governor made it clear that his government is also ''flexible'' on foreign investment provided everything is legal.

The policy was ''almost'' same for industrial investment in all provinces of China. ''After China entered the WTO, differences may be in services rendered by respective provinces. Some may offer better services. The policy almost remains the same everywhere.'' On the tourism front, various schemes are being implemented to improve infrastructural facilities including roads and expressways besides enlarging hotel capacity and transportation.

For foreign tourists to Henan Province, known for scenic beauty and dotted with Buddhist shrines, Mr Chengyu said attractive packages were on offer.

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