The Unit Approval Committee (UAC) of MEPZ SEZ, chaired by Thiru. Alex Paul Menon, IAS, Development Commissioner, MEPZ SEZ convened today to review and approve key proposals aimed at boosting economic growth and job creation within the zone. The Committee successfully disposed of 29 proposals, reflecting MEPZ SEZ’s commitment to enhancing business growth.

Key Highlights:

• Approved Investments: A total of ₹ 31 crore was approved for new projects in SEZ units.
• Employment Generated: The approved projects are expected to generate 137 new jobs, contributing significantly to the region's employment landscape.

Cumulative Impact (April 2024 to September 2024):

Since April 2024, MEPZ SEZ has witnessed remarkable growth in both investments and employment generation:

• Total Investments Approved: A cumulative ₹ 4024 crores have been approved across SEZ and EOU units.
• Total Employment Generated: These approved projects have resulted in the creation of 22,844 jobs, underscoring MEPZ SEZ’s critical role in driving the region’s socio-economic development.

Fostering Ease of Doing Business:

MEPZ SEZ continues its efforts to streamline the approval process and facilitate a business-friendly environment. The UAC reaffirmed its policy of issuing same-day Letters of Approval (LoAs) for projects that meet all regulatory requirements, enabling businesses to quickly start operations and contribute to the economic ecosystem.

Thiru. Alex Paul Menon, IAS, remarked, “Our focus remains on ensuring that MEPZ SEZ is a hub for innovation and growth. We are committed to speeding up approvals and simplifying processes for businesses to thrive.” Further he added that “Our focused approach to conducting sector-based reviews enables us to address operational challenges, advocate for policy-level improvements, and identify strategic opportunities. This ensures that exporters can move up the value chain, driving growth and development in targeted sectors”

With these latest approvals, MEPZ SEZ has cleared investments that will not only bring significant capital into the region but also create new employment opportunities, furthering its mission to drive economic development.

   

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