Tamil Nadu bags prestigious U.N award for excellence in Investment Promotion

The U.N award is in recognition of Guidance's efforts to attract investments using innovative approaches for promotion, finance, and partnerships in Energy transition promotion.

Chennai: Guidance – the nodal agency for Investment Promotion under the Department of Industries, Investment Promotion and Commerce, Government of Tamil Nadu received the prestigious United Nations Promotion Award 2023 For Excellence in Scaling Up Energy Transition Investments at the 8th World Investment Forum held at Abu Dhabi, United Arab Emirates yesterday.

The U.N award is in recognition of Guidance’s efforts to attract investments using innovative approaches for promotion, finance, and partnerships in Energy transition promotion. It is a matter of pride that Guidance is South Asia’s only Investment Promotion Agency to get the U.N. Award this year.

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V. Vishnu, I.A.S., Managing Director and CEO, Guidance, received the U.N award from Ms. Rebeca Grynspan, Director General, UNCTAD.

This was followed by an event attended by Heads of States, Investment Promotion Agencies (IPA) worldwide, and Government representatives. The biennial World Investment Forum, organised by the United Nations Conference on Trade and Development (UNCTAD) since 2008, monitors the mainstreaming of sustainable development goals by Investment Promotion Agencies and conducts regular surveys.

Based on UNCTAD’s research and survey, this year’s edition of the UN Investment Promotion Awards recognises the work of IPAs in attracting investment for climate action, with consideration of innovative approaches to investment promotion, finance, and partnerships.

GuidanceGuidance (earlier, Tamil Nadu Industrial Guidance and Export Promotion Bureau) was among India’s first Investment Promotion Agencies with the specific mandate of investment promotion and facilitation.

Guidance is also vested with the key role of drafting industrial policies and sector-specific policy reforms to adapt to global trends. In the citation, U.N. said Guidance was getting the award for “facilitating the First Solar investment project with a fully vertical integrated photovoltaic thin film solar module manufacturing facility, notably through green incentives and higher training incentives for women.

This project will facilitate access to low-cost solar panels and contribute to more sustainable cities in India.” U.N. Award, recognition of TN’s visionary outlookOn the U.N. Award to Guidance at the World Investment Forum, Dr T.R.B. Rajaa, Honourable Minister for Industries, Investment Promotion and Commerce, said, “

The U.N. Award is another feather in the cap for Team Guidance, which has played a key role in attracting investments from global companies in all sectors. The award is a recognition of Government of Tamil Nadu’s visionary and progressive outlook. Under the leadership of Honourable Chief Minister of Tamil Nadu Thiru. M.K.Stalin, the state is fast emerging as a global hub for renewable energy because of our focused efforts in the sector.”