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New bill to make Kerala more investment-friendly: Minister

New bill to make Kerala more investment-friendly: Minister

Tribune News Network
Doha
THE Kerala Investment Promotion and Facilitation Bill passed by the Kerala Legislative Assembly will make Kerala the most investment-friendly state in India, Minister for Industries and Sports of Kerala EP Jayarajan has said.
Jayarajan was in Doha to attend a business conclave organised by Kerala Business Forum, a forum of business community from the southern Indian state in Qatar.
“The bill has removed all regulations that stood as obstacles in the opening of business or investing in Kerala. The government is committed to supporting expatriates who have played such an important role in the development of Kerala,” he said at a press conference.
The minister added that the infrastructure projects implemented by Kerala Infrastructure Investment Fund Board (KIIFB) with the support of expatriates would make Kerala an advanced state of India.
Jayarajan said, “A large number of infrastructure projects, including roadways, waterways and rail projects will change the face of the state. The Kerala expatriates, who are spread across the world, are very much supportive of the government’s projects. The government will provide houses to half a million people within five years.”
On the issue of continuing natural calamity, he said, the Kerala government has formed an efficient natural disaster management to handle emergency situations in future.
“The Non-Resident Keralites Welfare (Amendment) Bill offers lifelong income for Non-resident Keralites (NRKs) returning to their home state. Under the amended Act, those who make a one-time deposit in the range of Rs 3 lakh to Rs 51 lakh, will get a monthly dividend of 10 per cent from the fourth year of deposit. After the death of the depositor, the nominee would get the invested sum and the dividend of three years, marking the end of the scheme,” Jayarajan informed.
NORKA Roots Director CV Rappai said that an official would be formally appointed to provide legal advisor to support the expatriates and a final decision in this regard will be announced shortly.
Kerala Business Forum President KR Jayaraj said that KBF would conduct follow-up meeting after the conclave and provide all support to expatriate investors in Kerala.
Others who attended the press conference included Jenny Antony, H Sabith and Pramod Chandran.

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