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Goa gets Rs 5.5 billion foreign investment in the last five years

Sandesh Prabhudesai in Panaji

Eighteen multinationals and seven non-resident Indians have invested Rs 5.55 billion in the tiny state of Goa in the last five years.

The largest chunk of this investment -- around 39 per cent -- has been made by four German units including Hoechst Marion Roursels Ltd (Rs 1.29 billion) and M L Benchemie and Co (Rs 9.9 million).

The United States of America ranks second with three units -- Kodak, Richardson Vicks and Essef Corporation -- and an investment of Rs 322.4 million (around eight per cent of the total foreign investment).

The United Kingdom has invested around Rs 310.64 million in two units for making aluminium foils and cruise boats. A Portuguese ship-repairing unit is also being set up at the cost of Rs 1.4 billion.

The seven NRIs have invested Rs 33.4 million in medium-scale units for making industrial accessories..

The remaining investment (Rs 1.25 billion) has come from countries like Australia, South Korea, Switzerland, Canada, The Netherlands, Hong Kong and Taiwan.

The foreign investment would have been much higher had it not been for the poor infrastructural facilities in the state. ''We are concentrating on developing infrastructure and inviting investment,'' said state Industries Minister Luizinho Faleiro. He is hopeful that there would be a sea change in Goa's industrial scenario in the next five years.