Tamil Nadu: CM Stalin to Leave for Singapore, Japan on Tuesday to Draw Investments

In the run-up to the Global Investors Meet scheduled in January next year, Tamil Nadu Chief Minister is all set to leave for Singapore and Japan on Tuesday to woo investors. The chief minister is expected to return by month-end.

This will be Stalin’s second visit abroad to fetch investments for the state. Newly-inducted Industries Minister TRB Rajaa will accompany the chief minister.

“Chief Minister Stalin is visiting two countries to bring in more investments. This will be an official visit to try to sign MoUs for the state. He is meeting more industrialists and investors in both countries,” senior leader TKS Elangovan told News18.com.

Stalin’s first stop will be Singapore where he is likely to spend two days and then spend over a week in Japan. In Singapore, Stalin is likely to meet entrepreneurs and focus on skill development and technology with an aim to sign more MoUs during the visit, sources privy to the development told News18.com.

In Japan, the chief minister is expected to visit Tokyo and Osaka and meet the chief executives of various companies there. The Tamil Nadu government wants to bring in investors from the electronic sector, electric vehicles sector as well as the renewable energy sector.

“Chief Minister Stalin wants to achieve a one trillion economy by 2030 and that is why he has been travelling across the globe. He was in Dubai last year and now (he will visit) Singapore and Japan where he is going to meet industrialists, industry leaders, and people in the political and industry ecosystem,” Dharani Dharan, DMK spokesperson, told News18.com.

Last March, a delegation led by the chief minister signed six MoUs to the tune of Rs 6,100 crores. Some of these included an agreement with LuLu Group, Noble Steel and Aster DM Healthcare.

The Tamil Nadu government had recently signed a Rs 1,891-cr MoU with Mitsubishi to set up an air conditioner manufacturing plant in Tiruvallur district and also signed an agreement with Hyundai Motors to the tune of Rs 24,000 crore to expand electric vehicle manufacturing.

Singapore-based IGSS Ventures had originally signed an MoU with the Tamil Nadu government to set up a semiconductor chip manufacturing unit in the state, but uncertainty over incentives from both the Centre and state led to several such ventures being in limbo.