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Tuesday, August 17, 1999
Govt sets up FIIA to facilitate FDI
PRESS TRUST OF INDIA
NEW DELHI, AUG 16: The government today set up a Foreign Investment Implementation Authority (FIIA) to expedite foreign direct investment (FDI) approvals and implementation. The authority under industry ministry will provide pro-active one stop after-care service to foreign investors by helping them obtain necessary approvals, sort out operational problems and meet with various government agencies, an official release said here.The setting up of FIIA was announced in the Union budget for 1999-2000. The Secretariat of Industrial Assistance (SIA) in the Department of Industrial Policy and Promotion shall function as the secretariat of FIIA. Besides acting as single interface between investor and government agencies, the authority will resolve differences in perception and initiate multi-agency consultations. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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