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BDA-GIREM MoU to sell city as investment destination

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OST Bureau
Bhubaneswar, Nov 23:

Bhubaneswar Development Authority (BDA) today inked a memorandum of understanding (MoU) with Global Initiative for Restructuring Environment & Management (GIREM) to showcase the potential of Bhubaneswar and create a favourable image for the city as one of the most preferred business destinations in India in the investor community.

Real Estate Boom in Bhubaneswar
Real Estate Boom in Bhubaneswar

Town & Regional Planning member of BDA Pitabasa Sahoo and GIREM president Shyam Sundar S Pani signed the MoU in the presence of Housing and Urban Development Minister Debi Prasad Mishra and Development Commissioner Injeti Srinivas.
The vision of the agreement is to attract investments and build a strong and vibrant economy, besides creating great employment opportunities and raise incomes of all sections through skill up-gradation to improve the quality of life of the people of Bhubaneswar, BDA officials said.

It will prepare a consensus-based visionary development strategy for the future of Bhubaneswar, said an official of BDA.
The MoU is meant to identify and create eco-socio-economic hubs in Bhubaneswar for creating economic and social activity, design integrated township ‘South City’ in Bhubaneswar, develop Future Economic zone on the stretch between Cuttack and Bhubaneswar City and promote the hubs and city as a whole. Besides, it will create 100,000 IT jobs directly and 5 lakhs jobs indirectly.

“This MoU is based on the mutual desire to promote Bhubaneswar by creating a sustainable business eco-system and social infrastructure through private sector participation. We strongly believe that the city can host a diverse and dynamic range of businesses and that is one of the main reasons that will help the city facilitate great investments. The MoU also aims to derive the fullest benefit of the changing economic environment to create 100,000 IT Jobs in the next 7 years”, said the president of GIREM.

“Bhubaneswar, as a city, has many inherent advantages – the second planned city and amongst the fastest growing cities in the country, low level of pollution, a major centre for health care and higher education. Through this partnership with GIREM, we aim at building upon these advantages to make Bhubaneswar a leading investment destination for the services sector in the country”, said BDA vice-chairman Vishal Dev.