Bihar Business Connect 2024 Investment | 25 Dec 2024
Why in News?
In 'Bihar Business Connect-2024,' the state received investment proposals worth Rs 1.80 lakh crore.
- The State government announced that it will ensure the conversion of memorandums of understanding (MoUs) into tangible investments on the ground within a year.
Key Points
- Nodal Officers for Ease of Doing Business:
- The appointment of "one nodal officer for every five to ten MoUs" to facilitate ease of doing business was announced.
- These officers will assist investors in securing land and obtaining all required clearances across 11 sectors for which proposals have been received.
- Periodic Review of Progress:
- The State Investment Promotion Board will regularly review the progress of these initiatives to ensure timely implementation of investments.
- Investment Commitments in 2024:
- During the two-day global investors' summit in Patna, a total of 423 investment commitments were signed.
- In the 2023 edition of the investors' meet, Bihar had secured investment commitments worth Rs 50,300 crore.
Bihar Business Connect-2024
- Objective:
- The summit aimed to attract investments across sectors, including manufacturing, infrastructure, agriculture, and technology, showcasing Bihar's conducive environment for business growth.
- Government Initiatives:
- Key policies and reforms focused on improving ease of doing business, along with tax incentives, infrastructure upgrades, and skill development programs to create a favorable climate for investors.
- Networking Platform:
- The event provided a platform for networking among industry leaders, government officials, and global investors, enhancing collaboration opportunities in Bihar's economy.
- Sectoral Focus:
- Emphasis on sectors like renewable energy, IT, tourism, and agri-business aligns with the state’s plans to diversify its economic landscape.