Goa is mulling setting up Special Investment Regions (SIRs) to attract global and domestic investment in the industrial sector, years after the erstwhile Congress Government had abruptly scrapped Special Economic Zones fearing influx of migrants.
The draft investment-cum-industrial policy prepared by the State Government has laid a special thrust on development of SIRs to attract investments in the industrial sector, a senior official in the State Industries Department said on Monday.
The draft policy would be placed in the public domain for suggestions and objections in the next couple of months, he said.
“Special Investment Regions would mean special areas demarcated for development with their own industrial, social and urban infrastructure on par with global standards, to attract global as well as domestic investments,” according to the policy document.
The SIRs will attract large investments, economies of scale and world class infrastructure arrangements, the official said.
The policy also explores the possibility of setting up National Manufacturing and Investment Zone, on the lines of the Union Government, so as to attract investment and provide quality infrastructure and support.
The Congress Government at the helm in Goa earlier had scrapped its SEZ policy, after allocating land for 12 firms in its industrial estate, fearing that going ahead with the policy would have triggered large-scale migration in the State.
The draft industrial policy also emphasises formation of Investment Promotion Board by enacting suitable legislation.
“The mandate of the Board will include identifying the investment requirements of the State, prioritising public investments in specific projects, deciding modalities of funding, ensuring timely clearance of the investment proposals and reviewing the execution of the projects,” proposes the draft document.
According to the official, the Board would act as a facilitator for investment promotion and serve as a single window clearance authority for medium and large scale industries.