UP govt signs MoUs worth Rs 18,350 crore with Japan, South Korea
Jan 12, 2023
Lucknow (Uttar Pradesh) [India], January 12 : As many as four companies of Japan and South Korea are going to invest Rs 18,350 crore in Uttar Pradesh, an official statement said on Thursday.
"A Memorandum of Understanding (MoU) between the government of Uttar Pradesh and these companies was recently signed," the statement said.
"With this, 16,700 youths of the state will get employment in manufacturing, waste management and textile and clothing industries," it added.
Last month, on the instructions of Chief Minister Yogi Adityanath, a team of the UP government led by Tourism Minister Jaiveer Singh went to Japan and South Korea to extend invitations for the Global Inventors Summit (GIS-23).
During this, the team held 22 Government to Business (G2B) and Government to Government (G2G) meetings and received nine investment proposals worth Rs 25,456 crore, which are likely to generate 17,000 jobs. MoUs worth Rs 18,350 crore have been signed on four of these proposals, the statement said.
"In South Korea, Team Yogi held B2G meetings with Korea Overseas Infrastructure and Urban Development Corporation (KIND), Samsung Electronics and Coupang. In Japan, B2G meetings were held with NTT Global, Seiko Advance Ltd., Mitsui & Co. and Chubu Electric Power. In addition, Team Yogi had positive discussions with major investors, including Japan India Industry Promotion Association, Nissenken Quality Evaluation Center Tokyo Laboratory, One World Corporation and Mitsui & Co. Global Logistics regarding investment" it said.
According to the statement, Japan India Industry Promotion Association and Nissenken Quality Evaluation Center Tokyo Laboratory will invest Rs 2500 and Rs 10,000 crores respectively in the textile and garment industries in UP. This will result in the creation of 5000 and 10,000 jobs in UP, respectively.
In waste management, One World Corporation will invest Rs 5,000 crore. With this, the state will have the availability of 1,500 jobs and employment prospects. Seiko Advance Limited, on the other hand, will invest Rs 850 crore in the manufacturing sector. This will result in the creation of 200 jobs and employment prospects in the state, it said.
