The Government of Goa proposes to set up an Investment Promotion Board as the nodal authority for investments in Goa which meet any/all of the below criteria:
a. Investment upwards of Rs. 5 crore
b. Area requirement equal to or above 3000 sq. meters
c. Classified under the Red or Orange category as per Goa State Pollution Control Board guidelines
d. Investments less than or equal to Rs. 5 crore and not meeting any of the criteria above can approach a dedicated sub- committee headed by the concern Minister Incharge to be set up within the Investment Promotion Board that will serve as a facilitator for investments of value less than or equal to Rs 5 crore.
The Investment Promotion Board will be a fully empowered statutory entity, headed by a full-time CEO and supported by a dedicated team. The Board will be non-executive and include 6 members from the industry. The Secretary (Industries) shall be permanent member and other Secretary and Head of the Department shall be invited as and when required. The Chief Minister of Goa will be the Chairperson, the Deputy Chief Minister the Joint Chairperson, the Industries Minister the Vice-Chairperson, and the Tourism Minister and Information Technology Minister will be members of the Board. The Board will meet on a fortnightly basis.
The CEO of the board will be an industry professional, a Class I Officer and Member Secretary. The CEO shall be selected by a committee which would comprise of the Principal Secretary (Industries), and representatives selected from industry bodies/associations of Goa.