MoUs worth ₹1.5 lakh crore and investment proposals worth ₹2.5 lakh crore were received during Chief Minister Yogi Adityanath’s visit to Singapore and Japan. These investments are expected to create more than 5 lakh jobs, which will propel UP towards a one trillion dollar economy.
Yamanashi/Lucknow. Uttar Pradesh Chief Minister Yogi Adityanath’s four-day visit to Singapore and Japan was unprecedentedly successful. During this visit, the state government received MoUs worth a total of ₹1.5 lakh crore and investment proposals worth about ₹2.5 lakh crore. The Chief Minister said that if these investments come to fruition, more than 5 lakh youth will get employment and Uttar Pradesh will get a big boost in its goal of creating a one trillion dollar economy by 2029-30.
Big investment proposals from Japan and Singapore: increase in MOUs and FDI
The Chief Minister said that MoUs worth ₹90,000 crore and investment proposals worth about ₹1.5 lakh crore were received in Japan. Whereas in Singapore, MoUs worth ₹ 60,000 crore and investment proposals worth about ₹ 1 lakh crore were received. The responsibility of taking forward all these proposals has been given to ‘Invest UP’ and the concerned departments, who will implement them in a time bound manner.
The Chief Minister said that under the leadership of Prime Minister Narendra Modi, special attention has been paid to law and order and ease of doing business, the positive results of which are now visible. The use of technology and transparent governance has strengthened global investor confidence.
Global Trust on Law and Order and Ease of Doing Business
The Chief Minister said that due to better law and order and transparent system in Uttar Pradesh, the confidence of investors has increased. The state is considered to be a leader in ease of doing business. He told that the Governor of Yamanashi will come to Uttar Pradesh in August along with a delegation of about 200 Japanese CEOs. Apart from this, a big business delegation from Singapore is also ready to come to the state for investment. Enthusiastic events were also organized with the Indian community in Singapore, Tokyo and Yamanashi, which sent a positive message towards Uttar Pradesh.
5 lakh employment generation: big opportunities for youth
The Chief Minister said that Uttar Pradesh has a large land bank, strong scale and clear sectoral policies. If investment proposals worth close to ₹4 lakh crore are implemented, more than 5 lakh youth will get direct and indirect employment. This investment will give a new direction to technology transfer, skilling and industrial development.
G2G, G2B and B2B meetings: over 60 formal interactions
More than 60 formal programs and meetings were held during the four-day visit.
- G2G (Government to Government) meetings
- G2B (Government to Business) discussion
- B2B (Business to Business) communication
Three major investment roadshows were held—one in Singapore, the second in Tokyo and the third in Yamanashi, a major prefecture of Japan. About 450 to 500 investors and industrialists participated in these programs.
Focus on IT, FinTech, Semiconductor and Tourism in Singapore
There was positive discussion in Singapore in sectors such as IT, Global Capacity Centre, Logistics, Semiconductor, Tourism, Fintech, Medtech and Deep-Tech. Many companies signed MOUs and many submitted investment proposals. Detailed discussions were held on tourism and industrial investment in Tokyo.
Concrete initiatives on automobiles, green hydrogen and ‘Japan City’
During the Japan visit, areas like automobile, logistics, green hydrogen, CNG and solar energy were discussed. Major companies such as Suzuki Motor Corporation, Honda Motor Co., Ltd. and Mitsui & Co. Had a fruitful discussion with. The delegation inspected the green hydrogen plant in Yamanashi. Agreement was reached on technical cooperation and skilling partnership for green hydrogen development in Uttar Pradesh. Developing a dedicated ‘Japan City’ for Japanese investors in the Yida area was also discussed, and the land allocation process is being advanced.
Technology transfer, skill development and high-speed maglev train experience
The skilling model of the Institute of Technical Education (ITE) in Singapore was studied. MRO, warehousing and cargo management systems were understood which would be useful in the development of Noida International Airport (Jewar). In Japan the delegation experienced the super high-speed maglev train, which runs at speeds of approximately 500 km per hour. Also the robotics factory and R&D center was inspected. The Chief Minister said that this visit will prove to be a historic milestone in the direction of making Uttar Pradesh a one trillion dollar economy.