The Hindu : 'More investor-friendly climate needed'

Online edition of India's National Newspaper
Wednesday, Jan 15, 2003

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'More investor-friendly climate needed'

By Our Special Correspondent

NEW DELHI Jan. 14. The Japanese Vice-Minister for International Affairs, Ministry of Economy, Trade and Industry, Tadakatsu Sano, today asserted that it was not enough to merely share information and efforts needed to be made to address the problems that afflicted the two countries.

However, sounding an optimistic note by observing that ``the Indo-Japanese bilateral ties are all set to emerge stronger and with a renewed vigour'', Mr. Sano, while addressing a CII meet, said India should do away with all hurdles and create a congenial atmosphere to enable Japanese investors to invest in India without any fear and further delay. He also voiced concern over the lowering of Japanese FDI in India and asserted that China's recent emergence as the most vibrant economy had forced Japan to look eastward and more particularly in the ASEAN region. However, he sought to allay the fear of lower FDIs in India and assured the Indian business community of continued cooperation to enhance investment even as he urged them to invest in his country. He said he was looking forward to Indian cooperation in the economic development of Japan.

Earlier, the visiting Japanese Minister appreciated the recent initiatives taken by the Government to attract more foreign direct investment. In this regard, he also made a particular reference to the efforts made by the Disinvestment Minister, Arun Shourie, with whom he had held discussions.

He said Tokyo would be playing host to a mini ministerial-level meet to discuss market access, agriculture and training services with India and continue the dialogue, which was initiated at the Doha WTO talks. The former CII president, B. L. Munjal, said Indo-Japanese relations had been propelled into a new phase of friendship and cooperation. He also welcomed the discontinuation of economy measures towards India by Japan.

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