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Goa to attract more investments in 2016, seeing up promotion board

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Goa looks to attract more investment in 2016 with the setting up of Investment Promotion Board (IPB) for fast approvals to industrial proposals.

The newly-created Investment Promotion Board has already cleared 62 proposals committing investment of Rs 5,200 crore during its last few meetings and some of which will take over two years to materialise.

Industry players too feel that the creation of IPB will facilitate rejuvenating the investment climate, which went through bad phase before 2015.

“We are more of facilitating agency for the industry. We help in getting approvals quicker. The proposals for expansion of existing facility is cleared within a month while others like new investment takes two-three months,” IPB Chief Executive Officer Ashton Godinho told PTI.

The state wants to learn from counterparts like Gujarat where investment proposals are cleared at much quicker pace.

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