Meghalaya Industrial Development Corporation Ltd. unveils Business Facilitation Centre

Syllad | The Rising MeghalayaJune 20, 2024

The Meghalaya Industrial Development Corporation Ltd. (MIDC) proudly announces the inauguration of the Business Facilitation Centre (BFC), a pioneering initiative aimed at enhancing the ease of doing business for both existing and prospective entrepreneurs in Meghalaya. This state-of-the-art centre is designed to streamline business operations and provide comprehensive support, fostering economic growth across the region.

The BFC will focus on four key areas. Firstly, a dedicated team at the BFC will manage the collection of lease agreements across all industrial estates administered by MIDC in Byrnihat, Umian, and Mendipathar. This initiative ensures timely and efficient handling of lease-related matters, thereby improving operational efficiency for businesses in these estates. Secondly, entrepreneurs applying under the CM-ELEVATE program can now benefit from the generation of CIBIL score reports at the BFC. This service will provide critical credit information, facilitating better access to financial resources and ensuring faster loan processing with various banks. Thirdly, the BFC will offer capacity-building programs focusing on financial literacy and education. These programs are designed to equip entrepreneurs with the knowledge and skills needed to manage their finances effectively and make informed business decisions.

James P K Sangma, Chairman of MIDC, expressed his enthusiasm for the new initiative, stating, “The Business Facilitation Centre represents a significant step forward in our commitment to fostering a business-friendly environment in Meghalaya. By offering targeted support services, we aim to empower entrepreneurs and drive economic development in the state.”

Echoing this sentiment, D D Nongmalieh, Managing Director of MIDC, added, “Our goal is to create a seamless experience for businesses at every stage of their journey. The BFC is a testament to our dedication to enhancing the ease of doing business in Meghalaya, and we are confident that it will be a valuable resource for our entrepreneurial community.”

The establishment of the Business Facilitation Centre marks a notable advancement in MIDC’s efforts to support and grow the business landscape in Meghalaya, offering a robust platform for entrepreneurs to thrive and contribute to the state’s economic prosperity.