After Singapore, it's destination China

Sumit Sen / TNN / Sep 19, 2005, 15:20 IST

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After Singapore, the West Bengal CM eyes China which taught his party how to open the doors to FDI.

KOLKATA: After his success in Indonesia and Singapore, Buddhadeb Bhattacharjee is eying China, a country which taught him and his party how to open the doors to foreign investment.
For the past six months, his government has been busy corresponding with the Chinese majors in petrochemicals, leather, toys and pharmaceutical industries, tapping them for investment in West Bengal.
Things are moving in the the right direction and a high-power delegation will visit China soon, maybe next month. In an exclusive interview to TOI, the chief minister oozed confidence. "I am optimistic that deals will definitely be clinched for which we have been working with meticulous planning.
We are getting adequately prepared to provide them land and other infrastructual support. Chinese investment in downstream industries in Haldia will fulfil our dream of building a chemical hub there."

After China, it could be the US. "A trip to US is very much on my radar as there have been some interactions, but I would do so only when there are concrete developments."
However, Europe �� with the possible exception of Italy where he had been earlier �� is not on his list of priority. This is because Bhattacharjee firmly believes that Asian and South-east Asian countries are the best bets for FDI.
His eyes twinkled as he shared his dream of restoring the past glory of Kolkata and the state �� overcoming whatever irritants that may come in the way. His vision: by 2010, the state will occupy an enviable position with all-round development.

He heaped praise on PM Manmohan Singh and deputy chairman of the Planning Commission Montek Singh Aluwalliah for asking him to explore the FDI possibilities in South-east Asian countries, especially Singapore.
"It was Dr Singh who through the 'Look-East policy' helped us understand the fast emerging role of Kolkata as the gateway to South-east Asia and its immense business potential. We have to seize this opportunity at any cost," he said.
Bhattacharjee was euphoric over the Indonesian Salim group's plan to set up health and knowledge cities in areas close to Kolkata. These will bring about major changes and encourage fresh investments. "We have begun work on site selection on a war-footing, obviously taking care of farmers' interests.
The farmers whose lands will be utilised, especially those belonging to South 24-Parganas �� identified as one of the most backward districts �� would benefit initially as construction workers and subsequently as a supplementary workforce once this huge indusrial set-up is in place."
While yet another Indonesian company, April Fine Paper, has decided to set up a paper pulp manufacturing unit in the state, Japanese giant Mitsubishi is all set to establish its second unit in Haldia. Bhattacharjee said Russian automobile major Ural will begin manufacturing heavy trucks in the state from November.
The CM was also optimistic about his next meeting with Mukesh Ambani in Kolkata once the RIL chief returned from the US. The Ambanis have agreed to set up an IT training institute, while the Indian Statistical Institute is all set to build an IT research centre.

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