CHENNAI: AIADMK general secretary Edappadi K Palaniswami on Friday accused chief minister C Joseph Vijay-led TVK govt of failing to retain investor confidence after reports suggested that South Korean shipbuilding major Hyundai had held investment talks with the Andhra Pradesh govt, raising concerns over the fate of its proposed Rs 38,000crore investment in the state.Palaniswami posted in social media that Hyundai, which has invested in TN since the 1990s, exploring another state reflected the govt’s inability to inspire confidence in investors. He called upon the govt to fast-track talks with Hyundai and ensure that the proposed Rs 38,000 crore investment is retained in Tamil Nadu, amid concerns that the project could shift to AP.He alleged that the state had weakened the functioning of Guidance Tamil Nadu, the investment promotion agency established during the late cm J Jayalalithaa’s tenure. He charged that the agency’s activities had been diluted and cited reports that 10 officials had resigned from it, questioning whether the TN govt realised the impact such developments could have on attracting fresh investments.Taking a swipe at Keerthana whom he termed “an immature industries minister in an amateur cabinet,” Palaniswami said publicity exercises would not help secure investments and urged the govt to focus on engaging with investors instead.
