Odisha is in a prospective to invite private investors to facilitate its tourism industry and formulates a Master Plan for Priority Tourism Destinations for making them investment ready, said the state Tourism Minister Jyoti Prakash Panigrahi. At the Tourism Investors Meet organised by FICCI in Delhi recently, the Minister said the opportunities are ample and investors can play their hands in the tourism infrastructure sector, taking advantage of the state’s favourable investment policies.
By now the state has about 300 acres of investment ready land bank which can be seen as opportunities for hotels, resorts, convention facilities, way-side amenities, theme parks, entertainment facilities, etc. According to the state tourism minister Odisha has one of the best single window system of approvals for projects. Global agencies including World Bank have approved the state as the most appropriate one for investment and implementation of projects.
Connectivity is a key factor to any business and it no longer just a communications matter; rather an essential fabric that enables productivity and can propel any business to a new heights. Talking about it, Panigrahi said, adding a new airport in its western part, the state has improved with this facility as well. Apart from this the state’s main airport – Biju Pattnaik Airport, that is voted as the best airport in terms of customer experience in APAC last year, has improved with 40% in carrying more passengers.
A study made by the representative of EY, the consultancy agency, said that the state is keen to have a world class convention facility. The most suitable land parcels for it are available at places like Gopalpur, Bhitarkanika, Talsari, Chandipur, Konark, Satkosia, Chilika, etc.
The government allots land at industrial rates to investors with incentives like 20% capital investment subsidy, 5% interest subsidy, 75% reimbursement of PF/ESI, training cost reimbursement of employees and many more.
The government has also identified 1500 acres of land in Shamuka for infrastructure development. Out of which 920 acres will be opened for development with private participation soon, briefed the minister.
The idea of private investments in the tourism industry will lead to higher profits. It means the creation of capital or goods capable of producing other goods or services in tourism industry and with that earning will rise, revitalizing the economic growth of the rural areas as well.
