Trivedi seeks relaxed regulations for investors

The Asian Infrastructure Investment Bank (AIIB) is implementing 24 projects across the world including five in India, said its director general for investment operations, Yee Ean Pang.

The AIIB, founded in 2016, “wish to change the landscape of infrastructure funding across its partner countries, laying emphasis on cross-country and cross-sectorial investments in shipping sector,” Pang underlined.

The AIIB also focuses on mobilizing the private sector participation in development of Port and coastal areas.

The AIIB, with 57 founding shareholders, offers 40%-45% stake to private players it its projects.

In the shipping sector, there is also a need for the private companies to step in, according to Pang.

Pang addressed the 3rd Annual Meeting of AIIB on ‘Enhancing Port and Coastal Infrastructure’ begins in Visakhapatnam on 3 April 2018.

The conference discussed various issues relating to trade promotion through sea route, building-up robust port and coastal infrastructure and revising and relaxing maritime regulatory issues to promote blue economy in India.

Speaking at the two-day conference, former Shipping Ministry Secretary, Dr Vishwapati Trivedi, called for relaxed maritime related regulations to attract investment for India’s 107 waterway projects.

Trivedi noted India’s focus on ship repair yards with potential of developing bunkering services and transportation network.

He also highlighted that ports in the country have huge land resources for developing related industries.

The Central government has initiated 70 to 80 projects under PPP mode for Costal Infrastructure Development, according to Trivedi.

In Andhra Pradesh, Gangavaram and Krishnapatnam are being developed under PPP mode. fii-news.com