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Invest Hyderabad PM asks ASEAN

Prime Minister Manmohan Singh today affirmed that the UPA government would be able achieve a positive outcome in the next six months on the issue of opening the retail sector to Foreign Direct Investment (FDI). The Prime Minister invited businessmen from the ASEAN countries to invest in hardware and pointed the phenomenal development of software in cities like Bangalore and Hyderabad.

Dr Manmohan Singh also spoke of the momentous progress in the road sector and in the field of telecommunications. Speaking on the reform process, the Prime Minister said the Left Front government in West Bengal is creating world class infrastructure. He said West Bengal Chief Minister Budhadeb Bhattacharya was recently here to woo investment from the ASEAN Region.

He reaffirmed that tariff rates will be brought down to ASEAN levels in the next two to three years and said development of infrastructure was high on the agenda of his government with plans of investments in the region of 150 billion dollars in the near future.

Dr Manmohan Singh said the visa regime with ASEAN countries needed to be liberalised along with growth in trade and investment.
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