'NEW JOBS': WORLD'S BUSINESS MAJORS COMING TO CHENNAI? BIG MOVE BY TN CM TO BOOST ECONOMY! - REPORT

Tamil Nadu’s Chief Minister, Edappadi K Palaniswamy on Friday wrote to various Multi-National Companies, inviting them to invest in the state. This step was taken to boost investments in TN and thereby bring the economy back on track.

These invites were sent to Tim Cook, President and Chief Executive Officer (CEO) of Apple; Kim Hyun Suk, President and Chief Executive Officer, Samsung; Jeff Bezos, CEO, Amazon; Enrique Lores, President and CEO of HP, among 9 others. Hence a total of 13 MNCs were chosen for this purpose.

Due to the coronavirus spread, various MNCs are likely to withdraw their investments in some countries. India is a very viable destination for them. Hence, K. Palaniswamy had outlined the various benefits, and the immense support that the state government offers for businesses. He has also promised a customised incentive package as per the companies’ requirements.

For facilitating the same, he has constituted a special Investment Promotion Task Force.

In recent times, TN has signed investment Memorandum of Understanding with 17 foreign companies, marking a total of Rupees 12,128 crore.