Meghalaya Chief Minister Conrad K. Sangma has revealed that the state is on track to attract a significant private investment totaling Rs. 8000 crore. Sangma emphasized that this surge in investment will play a pivotal role in achieving the ambitious goal of establishing a 10 billion US dollar economy. Addressing a workshop on “Human Development Leadership Programme” in Tura, attended by District Collectors, Block Development Officers, and other district and block-level officers from Garo Hills, Sangma attributed this remarkable influx of investment to the state’s new industrial policy, which has fostered an ecosystem conducive to business growth.
Highlighting the obstacles that previously hindered investor confidence, Sangma remarked, “The system was tedious and time-consuming. Our new industrial policy has streamlined processes to expedite clearance of various statutory requirements within specified timeframes, thus facilitating investors.” Sangma disclosed that approximately Rs. 4000 crore in investment has been secured over the past year alone. This includes major projects such as a Rs. 2500 crore thermal power plant for generating 450 megawatts of electricity, an ethanol plant, beverages manufacturing, and the establishment of five-star hotel chains.
In efforts to enhance IT connectivity, Sangma revealed ongoing discussions with Malaysian Telecom and Bangladesh Telecom to install optical fibers and submarine cables from Chittagong to Shillong. This initiative aims to bolster Meghalaya’s connectivity infrastructure, positioning it as a hub for robust data transmission capabilities. The Chief Minister also announced the development of new five-star hotel projects in Shillong, Sohra, and Umiam, along with a three-star hotel in Tura, all through private investments. These ventures are expected to stimulate the business environment and create employment opportunities for the youth.Sangma emphasized the role of hotels, air connectivity, and high-speed internet in attracting IT companies to the state. He cited the success of the Shillong IT Park in providing employment to over 3000 youth and the forthcoming expansion of the park to accommodate 3000 additional seats, attracting interest from companies in the US and Europe.