Kochi: After a year-long massive promotional drive to woo investors, Kerala is all set to host its first global investors meet (GIM), which will showcase an array of projects worth at least Rs 31,000 crore in the state's core competency areas.

Prime Minister Atal Behari Vajpayee, who is scheduled to arrive in Kochi on January 17 night, will be inaugurating the high-profile meet, at the international convention centre at nearby Maradu.

Billed as the biggest investment summit, the meet aims to project the new image of Kerala as an investor-friendly state to lure entrepreneurs from across the globe.

The meet had received a shot in the arm, with the Bangalore-based software major Infosys expressing interest in the state and deciding to invest after the state Chief Minister A K Antony met Infosys chairman and chief mentor, N R Narayana Murthy at Bangalore and convinced him of the changed scenario in the state. The government is hoping more Information Technology (IT) companies would follow suit.

Well-known names General Electric, Microsoft, Wipro, Southerland, Mackenzie and Reliance are participating in the meet and the government is hoping that at least some of them would have plans for Kerala. Twelve top IT companies would be sending in their delegations to the meet, government

sources said. TechnoPark phase II and IT park Kochi would be put up at the meet, besides a slew of projects for small and medium IT companies.

The areas GIM would focus for investments are infrastructure, education, IT and tourism.

Eight business sessions on IT, industries and industrial infrastructure, tourism, infrastructure, agriculture, housing, town planning and urban development, education and health, food processing and biotechnology to be chaired by respective state Ministers would be held to discuss the proposals from various government departments. Besides, one-to-one meetings are also being arranged with potential investors.

To clear project proposals at the meet, it has also been decided to give more teeth to the empowered committee of government secretaries following some shortcomings in the single-window system.

At least 80 projects, including trend-setting projects like the access- controlled express highway linking North and South Kerala, the Metro sky bus project at Kochi, passenger shipping services to the Gulf region are expected to be showcased.

Government is hoping that its efforts would bear fruits, if not immediately, at least in the long run, and has targeted investments to the tune of Rs 50,000 crore within a span of five years.

With the growing graph of unemployed touching 40 lakh in the state and the dwindling remittances from non-resident Indian (NRI) Keralites, it was felt that time had come to woo investors by projecting the infinite opportunities in the state and projecting a positive image.

Studies conducted by the Confederation of Indian Industries (CII) had rated Kerala as a 'high risk state for investments'. Kerala has accounted for only 0.54 per cent of the total foreign direct investment (FDI) inflow in the country as from 1991- 2001.

GIM would also highlight to potential investors the government's proactive initiatives like innovative industrial, IT, tourism and labour policies, abolishing obsolete laws and creating an ideal environment for investment makers.

The trade unions have said they would not patronise unfair and restrictive trade union practices and would welcome any investment respecting the dignity of labour. They also promised to be a work force committed to work culture.

The government also succeeded in getting support from the opposition parties for the meet after allaying their fears with regard to certain projects.

Consultancy firm Pricewaterhouse Coopers had scouted for promoters through its network spread across the globe. The government had mounted on a publicity blitz including road shows, advertisements and face-to-face interactions with identified businessmen from within and outside the country.

Business groups have tendered their interest in taking up strategic ventures, Kerala State Industrial Development Corporation (KSIDC) sources said adding GIM would be launch pad to kick off focussed discussions on such projects.

Over 1,500 delegates are expected to attend the meet, including those from at least 27 countries. A delegation from United Arab Emirates (UAE) led by Minister For Council Affairs Sheikh Majeed Saeed Rashid al Noaimi, member of the ruling family, arrived in Kochi early on January 17. The Malaysian team led by Works Minister Sami Vellu reached on January 16.

PTI