Chandigarh, Feb 23 (PTI) Punjab Cabinet Minister Aman Arora on Thursday said the AAP government has been undertaking efforts to further foster the investment ecosystem in the state and strengthen business ties with Japan.

Arora, who is the housing and urban development and information and public relations minister, presided over the "Japan- Partner Country" session on the first day of the 5th Progressive Punjab Investors' Summit-2023 organised here.

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Promoting ease of doing business, creating suitable employment opportunities, providing access to quality infrastructure and enabling greater transparency in governance are the topmost priorities of the Punjab government, an official release quoted him as saying here.

Pointing out the contribution of Punjab to the country's economic growth, Arora said the state has just 1.5 per cent of India's land area but contributes 3 per cent to India's Gross Domestic Product (GDP).

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Punjab is emerging as a new global business destination, he said, adding that it is also rightly known as the food bowl of India as it is the biggest contributor to the central pool of food grains.

The state is one of the major growing economies in the country with strengths in agriculture and food processing, textiles, bicycle manufacturing, engineering, auto components, machine tools, pharmaceuticals, IT and tourism.

Punjab has long-standing cultural and economic ties with Japan, the cabinet minister said, adding that Punjab exports goods worth Rs 336 crore to Japan, which is one of the focus countries for the state government to promote industrialisation, trade and commerce.

"Punjab is the safest place to do business," he reiterated.

With more than 100 Japanese business establishments in the state, Arora said Punjab-based industry has already entered many successful collaborations with Japanese enterprises manufacturing, technology tie-ups and market assistance, of which prominent companies include Aichi Steels -- Steel Arm of Toyota, Yanmar, SML ISUZU, Toppan, Mitsui Co, Gunma Seiko and Koyo.

Arora said the state government has set up a dedicated Japan desk at 'Invest Punjab', which provides a single point of contact for all new and existing investors.

Punjab could also develop Japan-specific industrial townships within Punjab for Japanese investments, which will ensure encumbrance-free land with utilities such as water, electricity, seamless road connectivity and pre-approved clearances, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)