The Unit Approval Committee (UAC)
of MEPZ SEZ, chaired by Thiru Alex Paul Menon, IAS, reviewed and approved a
total of 17 proposals during today’s meeting. Out of these, 10 are new units.
The approved investments are approximately ₹385 crores and expected to create
employment opportunities for about 800 people.
Among the approved investments,
Dah Sheng and SES Global Technology Services stood out with significant
contributions. Dah Sheng is set to invest in a new unit within the SEZ,
focusing on enhancing its production capabilities to meet global demand. SES
Global Technology Services has committed to establishing a new unit that will
leverage cutting-edge technology to drive innovation in the services sector.
These investments are expected to create substantial employment opportunities
and contribute significantly to the region’s economic growth.
The approvals granted today cover
a wide range of sectors, reflecting the diverse economic activities within the
MEPZ SEZ and its commitment to fostering an investor-friendly ecosystem.
In a move to streamline
operations and encourage swift implementation, the UAC has ensured that Letters
of Approval (LOAs) are issued on the same day for units that meet all the
necessary requirements. This efficient process significantly reduces the lead
time for new projects to commence, thereby accelerating economic growth and job
creation.
“We are committed to expediting
the approval process to support business growth,” said Thiru Alex Paul Menon,
IAS. “Issuing the LOAs on the same day during UAC meetings is a testament to
our focus on enhancing the ease of doing business. This approach will
undoubtedly attract more investments and foster a dynamic economic
environment.”