CHENNAI: After Industries Minister Dr TRB Rajaa announced the setting up of Taiwanese Industrial Parks to attract Rs 10,000 crore in investments and generate around 20,000 jobs on the state assembly, the state government signed a Memorandum of Understanding (MoU) with the Taiwan Chamber of Commerce.
The MoU, signed on Saturday between Guidance Tamil Nadu and the Taiwan Chamber of Commerce, is part of a series of agreements the state will enter into with the chamber to establish clusters, following Friday’s announcement, Dr Rajaa said.
“This is one of many such clusters we will create in Tamil Nadu. This park alone has the potential to attract investments worth Rs 1,800 crore and create 5,000 jobs,” Dr. Rajaa said in a social media post on X.
Taiwan Chamber of Commerce-India Vice General Simon Lee, Taiwan Chamber of Commerce Chennai President Eric Chang, Industries Department Secretary V Arun Roy, and Guidance Tamil Nadu MD and CEO Darez Ahamed were present at the signing ceremony.
“Taiwanese investments already form a strong pillar of Tamil Nadu’s FDI, especially in electronics and footwear. Recognising the need for a dedicated manufacturing space for Taiwanese vendors and companies, we are developing exclusive Indo-Taiwan Industrial Parks, built to international standards,” the minister said.
“On Friday, we made the announcement on the floor of the Tamil Nadu Assembly, and today we have signed the MoU and begun the work. That is the speed and commitment of this government under the leadership of our Honourable Chief Minister MK Stalin,” he added. “Our bigger ambition is to attract Rs 10,000 crore of Taiwanese investments, creating over 20,000 jobs in focus sectors like electronic components, technical textiles, and footwear components,” the minister said.