North Eastern Development Finance Corporation Ltd (NEDFi), on July 20, signed a memorandum of understanding (MoU) with the Indian Chamber of Commerce (ICC) – North East Initiative (NEI) at NEDFI House for working jointly to promote investment in Assam and Northeastern states.
The MoU was officially signed between NEDFi executive director SK Baruah and chairman of ICC Assam State Council, Sarat Kumar Jain, in presence of NEDFI chairman-cum-managing director PVSLN Murty, will also contribute towards various initiatives aimed at reforms, policy advocacy, ease of doing business, market linkages and promotion of sustainable business practices, linking the region with the wider contemporary economic perspective of the country.
Speaking on the occasion, Murty cited examples from history and mythology that the collaboration of two entities for the greater good of the society have always been executed and undertaken to usher in new developments and progress in the society.
“The MoU would certainly catalyse economic development of the northeastern region by identifying commercially viable industries, providing valued advisory and consultancy services, promoting entrepreneurship through effective mentoring and inculcating capacity building of the micro, small and medium enterprises generating sustainable livelihoods,” Murthy said.
Murthy also stated that the MoU was executed to jointly work on promoting investment in Assam and the Northeast and contribute towards linking the region with the wider contemporary economic perspective of India and the world.
“The signing of this MoU would certainly provide a platform for the entrepreneurs of NER to avail the pragmatic schemes and initiatives of NEDFI and the Indian Chamber of Commerce. The MoU aims at reaching a mutual understanding and promoting collaboration on catalyzing economic development of the region, promoting entrepreneurship through effective mentoring, skill development and capacity building of the micro, small and medium enterprises,” said Sarat Kr Jain, chairman, ICC Assam State Council.
As per the MoU, NEDFi and ICC-NE would associatively conduct Awareness and development activities to enhance Entrepreneurship development in academic and technology-based sectors of the region.
A Trade Facilitation Desk to facilitate trade and business would be established at the premises of ICC-NE in association with NEDFi to facilitate Trade and Commerce between Northeast and the rest of India and the world, as well. The Desk would cater to enquiries and would act as the single window for business matchmaking. ICC-NE and NEDFi would undertake necessary Baseline surveys and Secondary Research Reports on the various profiles of the region.
NEDFi and ICC-NE would also be providing information related to government notifications and guidelines, tax laws and duties to members and non-members of ICC to facilitate an information hub for the MSMEs of the North-Eastern region.