Odisha govt to set up District Investment Promotion Agencies

In a bid to promote and facilitate investment across the State, the Odisha government on Monday announced the setting up of District Investment Promotion Agencies (DIPAs) in 30 districts.

ANI | Bhubaneswar (Odisha) | Updated: 09-03-2021 09:47 IST | Created: 09-03-2021 09:47 IST
Odisha govt to set up District Investment Promotion Agencies
Representative Image. Image Credit: ANI

In a bid to promote and facilitate investment across the State, the Odisha government on Monday announced the setting up of District Investment Promotion Agencies (DIPAs) in 30 districts. According to the Industries Department, DIPA, in each of the 30 districts across the state, shall operate under the leadership of the respective District Collector with other senior district officials including SPs, DFOs and line Department officials being constituent members.

The District Collector shall be supported by a team of professionals for investment facilitation, project monitoring and promoting local entrepreneurship. The DIPAs will be housed at the District Collectorate. Its key roles will include facilitating and handholding entrepreneurs during project implementation, promoting enterprises to create large-scale employment, investment promotion leveraging local strengths of respective districts, ensuring early resolution of investor grievances and creation of a land bank for fast project implementation.

They will also closely monitor the implementation of major road, power supply and water supply projects which will facilitate industrialisation and economic growth The Industries Department also stated that the DIPAs will work as an extended arm of the Industrial Promotion and Investment Corporation of Odisha (IPICOL) and will be set up in phases from April 2021 to December 2021.

"DIPAs will play an active and effective role in expediting setting up of large as well as MSME projects in the respective districts. This initiative will provide a significant boost to the business environment and thereby generate significant local employment," it said. The performance of DIPAs will be monitored by State Level Single Window Clearance Authority and will also be evaluated through annual rankings of districts based on investor feedback.

"The state has seen significant industrial development over the last two decades. The large-scale increase in investment necessitates stronger facilitation and handholding of industrial projects at the district level and quick development of linked infrastructure facilities," it added. It further said that industrial development will help to create employment opportunities for the youth. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



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