More than 30 foreign and 400 Indian companies are expected to take part in the first “Progressive Punjab Investors’ Summit” to be held at Mohali from December 9 to 10.
According to Deputy Chief Minister Sukhbir Singh Badal, Chairman and Managing Director of Reliance Industries Mukesh Ambani, Chairman and CEO Arcelor-Mittal L N Mittal, Executive Chairman of L&T A M Naik, ITC Chairman Y C Deveshwar, Executive Chairman of Fortis Healthcare Ltd Malvinder Singh, Chairman & MD of Biocon Ltd Kiran Mazumdar-Shaw have given their consent to take part in the meet.
The state cabinet has approved the setting up of the Punjab Bureau of Investment Promotion (PBIP) for effective implementation of the new investment policy in a time-bound manner.
It also gave nod for allotment of 402 acres for companies in the information technology (IT) sector, bio-technology and technology-based non-polluting research & development facilities at Mohali. The new industrial policy will be notified by December 5.
A spokesperson of the Chief Minister’s Office said the bureau would have a board of governors (BoGs), an executive committee and a chief executive officer (CEO). The chief minister will be the chairman of the BoGs, while the deputy chief minister or minister in-charge investment promotion department will be its co-chairman.
The state industry minister will be the vice-chairman. The members of the bureau include six cabinet ministers, the chief secretary and other secretaries concerned. The chief executive officer will be the member-secretary. Apart from these, three technical experts and five representatives of trade, industry and commerce would be nominated by the state government.
The executive committee would regularly monitor and review the functioning of the bureau. It would also be responsible for organising campaigns, events, conferences and meetings for promoting Punjab as an investment destination both in India and abroad.
The CEO would receive, process and approve all investment proposals, including new investments and modernisation, up-gradation and expansion of existing industrial units.
