Japanese team explores options to invest in Medical Device Park

Noida: A Japanese delegation on Thursday visited the Medical Device Park project being developed in close proximity of Noida International airport along the Yamuna Expressway to explore investment opportunities in the region, the Yamuna Expressway industrial development authority (Yeida) said.

The group discussed investment ideas with Yeida officials and said that they want to sign an agreement to develop a medical devices and technology cluster within the medical device park project in which at least seven units are on the way to start operations. The authority is pursuing others to set up their business, said officials.

The visitors suggested that they can promote pharmaceutical research and innovation in association with the Uttar Pradesh Department of Healthcare. The delegation expressed desire to share ideas to enhance healthcare and medical tourism, they added.

“The Japanese team paid the visit under the banner of the Medical Excellence Japan (MEJ) that is company for facilitating healthcare and medical sector expansion outside Japan. It comprises officials from the Japanese government, industrialists, and medical company owners and the objective of the visit was to understand the park’s investment potential, land availability, and opportunities for manufacturers,” said Shailendra Bhatia, officer on special duty of Yeida.

“The team will return to Japan to discuss with their counterparts and submit a detailed project report to establish their industries here. We may sign an MoU in March,” he added.

The Japanese team included Kenji Shibuya, chief executive officer, Medical Excellence Japan (MEJ) and the Economic Research Institute for ASEAN and East Asia (ERIA); Yasuhiro Sensho, managing director, Sensho Gumi; and Sanae Sakurai, executive officer, MEJ; among others.

GN Singh, advisor to Uttar Pradesh chief minister, along with other senior Yeida officials, visited the site, taking along the visiting delegation. They also had a discussion at the Yeida office and a detailed presentation was given on the Medical Device Park. It followed a detailed presentation by Shibuya, emphasising interest in fostering collaboration with Yeida.

After the presentations, the delegation, accompanied by Yeida officials, visited the upcoming Medical Device Park site in Sector 28. The site visit provided the delegation with first hand insights into the park’s infrastructure and development potential.

To be sure, the Yamuna authority is developing the Medical Device Park over 350 acres. The authority has allotted 71 small and three large plots, covering nearly 195 acres. Additionally, the construction of the administrative building and other common facilities is nearing completion.