Tamil Nadu, Taiwan chamber sign pact to set up industrial park

Aimed at promoting Taiwanese investments in Tamil Nadu, the state government's investment promotion agency, Guidance Tamil Nadu has signed a memorandum of understanding with Taiwan Chamber of Commerce here on Saturday. The agreement seeks to establish an 'Indo-Taiwan Industrial Park' near the city with an investment potential of Rs 1,800 crore and creation of around 5,000 jobs, Minister for Industries TRB Rajaa said.

Taiwan Chamber of Commerce-India Vice General Simon Lee, Taiwan Chamber of Commerce, Chennai President Eric Chang, Industries department Secretary V Arun Roy, Guidance MD and CEO Darez Ahamed were present on the occasion.

Recognising the need for a dedicated manufacturing space for Taiwanese companies, the government is developing exclusive 'Indo-Taiwan Industrial Parks' that would be built to international standards, Rajaa said in a social media post.


He noted that investments from the East Asian country already form a strong pillar for Tamil Nadu's Foreign Direct Investments, especially in electronics and footwear sectors.

"Chief Minister M K Stalin ensures swift actions in governance. Hence, we in the industries department try to keep up with his pace. Our bigger ambition is to attract Rs 10,000 crore of Taiwanese investments, creating over 20,000 jobs in focus sectors like electronic components, technical textiles and footwear components", he said.