Korean investment a priority, Posco will happen: Manmohan SinghMarch 26th, 2012 - 10:46 am ICT by IANS
Seoul, March 26 (IANS) Investment from South Korea is a “priority” for India, visiting Prime Minister Manmohan Singh said Monday, adding that the government was taking “proactive” steps improve the business climate and move forward with the Posco mega steel plant project in Orissa.
“Investment from Korea is a priority for India. We will take proactive steps to address investor grievances and improve the business climate in the country. Many states of our union have been actively encouraging foreign investment and we will support these efforts. I urge Korean industry to have faith in India,” Manmohan Singh said in his address to South Korean CEOs during his two-day official visit to this country.
“I recognize that sometimes our processes can be slow but there are effective mechanisms for resolution of problems and differences and a strong rule of law. The government is keen to move forward with the Posco project and there is some progress in this regard. I believe that India is a stable and profitable long-term investment opportunity,” he said.
The Posco steel project, India’s largest foreign investment project estimated at $12 billion, has been hobbled for years by local protests against land acquisition of over 4,000 acres in Paradip in the eastern coastal state.
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- 'Posco delay will not affect South Korean investments' (Lead) - Nov 11, 2010
- 'Delay in Posco project not to affect South Korean investments' - Nov 11, 2010
- Over 1,600 families need rehabilitation in Posco site - Aug 04, 2011
- India values South Korean investment, says Anand Sharma - Oct 28, 2010
- Posco seeks lifting of curbs on project site entry - Mar 02, 2012
- India reassures South Korean investors, including Posco (Lead) - Oct 28, 2010
- India values South Korean investment, says Sharma - Oct 28, 2010
- MoEF expert team visits Posco plant site in Odisha - Aug 21, 2012
- Hundreds court arrest to protest Posco - Jun 06, 2011
- India to be friends with China, US: PM - Mar 24, 2012
- Jairam Ramesh questions Orissa's intention on Posco - May 01, 2011
- Orissa resumes work at Posco site - Jul 05, 2011
Tags: business climate, coastal state, investment opportunity, investment project, investor grievances, korean industry, korean investment, land acquisition, long term investment, manmohan, manmohan singh, paradip, posco, posco steel, prime minister manmohan, prime minister manmohan singh, project india, south korea, steel plant, steel project