Switzerland Invites Indian Investments

22 Mar 2013

Visakhapatnam, as a fast-developing city, can look to Switzerland and the local companies can form joint ventures with Swiss companies in many sectors to mutual advantage, Bangalore-based Consulate General of Switzerland Rolf Frei has said.

He was interacting with local industrialists and investors at a session organised here on Wednesday evening by the Vizagapatam Chamber of Commerce and Industry.

On his maiden visit to the city, he said that he was very impressed with the facilities and the beauty of the city.

“The way I am being received is quite amazing. The city and its people are very warm and beautiful. When my flight was landing, I was thrilled to see the panoramic view of the blue waters of Bay of Bengal and the hills,” he said.

He said the Switzerland Government was looking at strengthening the bilateral ties in trade and commerce. The Consulate office was opened in Bangalore two years ago recognising the immense investment potential in and from South India.

Frei said the Government was looking at investment opportunities in tourism, infrastructure, information and communication technology, retail, life-sciences, clean technologies, research and development and education.

“Many from South India are investing in Switzerland because it’s the gateway to Europe and has excellent infrastructure and tax incentives,” he stated.

Biotech and IT offices have been opened with an investment of $1 billion by Indians in Switzerland. The Swiss investment in India is of the order of $4 billion. “We have made a big Foreign Direct Investment (FDI) in India,” he said.

Thirty Indian companies with interest in Europe have so far opened their offices in Switzerland. “We have stable political environment, skilled manpower and excellent infrastructure. Low taxes are the main attraction,” he said.

Frei said 20 to 30 per cent of foreign tourists, who visit Switzerland every year, were from India. “Our tourist spots, round the year particularly in summer from May to September offer a fabulous experience to tourists. Every, at least 20-30 Indian films are shot in Switzerland. It is a favourite spot with Indian film makers,” he remarked.

Chamber President K. Ramabrahmam, Symbiosys CEO O. Naresh Kumar, and others spoke on the advantages of investing in Visakhapatnam and urged the Consul-General to bring in a delegation of Swiss industrialists and others the next time with him to showcase Vizag.

Source: http://www.thehindubusinessline.com/industry-and-economy/economy/switzerland-invites-indian-investments/article4533541.ece