Meghalaya cabinet nod to industrial investment policy

Shillong: The state cabinet on Tuesday cleared the Meghalaya Industrial and Investment Policy to streamline investment process so that maximum possible investment in the private sector comes to the state, chief minister Conrad K Sangma said.
He added that the objective of the policy was to achieve a 10 billion dollar state economy.
“In order to achieve that goal, we have come out with a new industrial and investment policy and this has also been aligned with the northeast policy that has come in recently, which was announced by the Government of India last week,” he told reporters after chairing the cabinet meeting.
The cabinet on Tuesday also approved Meghalaya IT/ITeS Promotion Policy, 2024 and creation of the Meghalaya Technology Parks.
“The industrial and investment promotion policy will be the new growth catalyst with a vision to empower Meghalaya’s economic landscape to foster industrial development, harness local potential, and create a vibrant business hub to contribute towards the overall holistic growth,” the CM said.
“Meghalaya IT/IT enabled services Promotion Policy 2024 will provide an environment which will attract investors to the State of Meghalaya and generate employment for the citizens of the State.
The creation of Technology Parks Society will enable the government to professionally plan, develop, establish, promote, operate and manage the technology parks in the state. “It will also promote the state as a preferred investment destination for ICT and electronics units to generate employment opportunities,” he added.
Stating that the tender for establishment for Tura IT Park has been issued, the CM said the cabinet also approved the purchase of land at Rongakgre for landfill site in East Garo Hills.