The Assam government today announced Industrial and Investment policy 2008, aimed at bringing economic development of not only the state but the entire north-east region.

The industrial and investment policy, will help development of bamboo, forest, plywood and food processing industries, Industry Minister Pradyut Bordoloi told that the cabinet has already approved it.

The policy draft was made in consultation with business and industrial houses of the region and will provide incentives to eligible business houses besides granting VAT exemption to them, he said.

The policy moots setting up of six business parks with private-public participation. While the government will invest  in infrastructure, private investment would be to the tune of Rs 300 crore, he said.

Among the business parks are a plastic park at Tinsukia, a bamboo park at Jagi Road, textile park at Sipajhar, jute processing at Kharupetia and mega food park at Tihu, the minister said.