NER has huge investment opportunities: Mani Sankar Aiyer

New Delhi, Apr 9 (UNI) The eight states of North Eastern Region (NER) hold immense potential of attracting fresh investment on account of the new North East Industrial Investment Policy (NEIIP) announced by the Government recently, said Minister for the Development of the North East Region (DoNER) Mani Shankar Aiyer.

Addressing newsmen on the eve of the 3rd North East Business summit here today, Mr Aiyer said there is a lot of misinformation about NER, particularily related to militancy in the country and abroad.

Around 1,000 Indian business delegates are expected to attend the two-day summit beginning here tomorrow.

Thailand is expected to bring a big contigent led by its Commerce Minister, while large number of delegates are expected from Bhutan, Nepal, Bangladesh and Myanmar, the minister added.

He said out of the eight states at least four of them -- Sikkim, Mizoram, Arunachal Pradesh and Meghalaya -- could claim to be very peaceful and virtually militancy free.

Even in Tripura, the situation had improved significantily, he said adding that Asom's situation was not what was being reported. ''Except some pocket of areas the rest of the area in the state is very conducive for investment.'' Calling the present investment policy ''the most lucrative one'' in the world, the minister said under the new NEIIP the investor can avail the benefit if he initiates the project making process on or upto the year 2017 and then would be entitled to avail the various tax incentives for the next ten years.

Apart from this, the NE Business Summit will focus on certain area specific items like Bamboo.

Setting up of a small hydel power project is another important business proposal for the area where one could set up power projects upto 10 MW. Only in Arunachal Pradesh the authorities have identified 492 such sites out of which 360 are yet to be set up, he added.

Mr Aiyer said the develpment of the inland waterways is another sector which also holds huge potential for increasng the regions trade with its adjoining neighbouring countries like Bhutan, Nepal, Bangladesh and Myanmar and for that the blueprint is almost ready for river Brahmaputra which is being declared as the second national waterway.

The development of the river Barak in Asom and river Kaladan in Mizoram will significantly enhance the regions export capabilities, he added.

Mr Aiyer said apart from this during the course of the summit the members will also discuss on the issues of the regions air and rail conectivity.

UNI