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Canadian IT firm Kitchener to invest $100 million in Mohali

February 22nd, 2016

Bilateral economic co-operation between and Punjab state and province of Ontario (Canada) on Wednesday got a boost when Canada based IT firm Kitchener evinced keen interest to invest 100 million dollars in IT City- Mohali to establish data centre services even as an MoU was inked between both countries to further this cooperation.

Disclosing this, an official spokesman said that this MoU was signed in the presence of Punjab Deputy Chief Minister Mr Sukhbir Singh Badal and Kathleen Wynne, Premier of Ontario by principal secretary industry and commerce Anirudh Tewari and Helan Angus deputy minister, ministry of citizenship immigration and international trade here at Punjab Bhawan today.

This bilateral agreement would focus on exploring opportunities of doing business and investment in Ontario and Punjab through seminars, exchange of ideas by industrialists on both sides through trade missions and delegations besides getting to gain knowledge about core sectors ensuring rapid economic development of both regions.

Deputy Chief Minister Mr Sukhbir Singh Badal expressed satisfaction over the keen interest shown by the delegation to explore the sectors including smart city and developing infrastructure in the state besides exchanging expertise in various fields by both the states in emerging areas

"Emphasis would also be laid on exchanging expertise in skill development- a field in which Punjab is emerging as a major player. He expressed confidence that members of Punjabi Diaspora settled in Canada would take this opportunity to invest in

Terming MoU signing as a historic step forward in boosting economic co-operation between Ontario and Punjab, S. Sukhbir Singh Badal expressed hope that such level of exchange and co-operation would scale further heights in near future.

On this occasion, premier of Ontario, Ms. Kathleen Wynne offered to form a joint team of both provinces to explore potential areas where investments could be made and expertise could be shared. She lauded implementation of governance reforms by Punjab government and simplification of procedures to set up new industries and infrastructure. She also offered further co-operation in strengthening relationship between two provinces.