Shillong, Dec 17: Meghalaya Chief Minister Conrad K. Sangma on Tuesday announced the enactment of the Meghalaya State Investment Promotion & Facilitation (MSIPF) Act, 2024, aimed at fostering economic growth, enhancing the business ecosystem, and creating employment opportunities in the state. As part of this initiative, the Invest Meghalaya Agency (IMA) has been established to streamline the investment process.
Speaking at the launch of a research programme of the Khasi Hills Autonomous District Council (KHADC), the Chief Minister stated that the IMA will replace the single-window agency, which was previously managed by the Industries Department.
While acknowledging the role of the Industries Department as the nodal agency, Sangma pointed out that the earlier system posed challenges for investors. “The process was a bit tedious as investors had to engage with multiple departments such as power, agriculture, or tourism in addition to dealing with the single-window clearance,” he explained.
To address this issue, the government decided to integrate all relevant departments under one unified framework, with a committee led by the Chief Minister. “We realized the need to bring all the departments together under a committee headed by the Chief Minister, which we call the IMA,” Sangma added.
The establishment of the IMA is expected to expedite the investment process and provide a more coordinated approach for investors, ultimately driving Meghalaya’s economic development.
