Laos based conglomerate to invest in Agarwood industry

Tripura Chief Minister excited to say industry got a global recognition

Out Bureau

AGARTALA, May 09 2022: A high level delegation of a Laos (Lao People's Democratic Republic) based conglomerate has arrived here Monday to check modalities to invest in Agarwood segment which has made a dent in industry sector of Tripura. 

Habib Mohammed Chowdhury, Founder Chairman and Managing Director of the HSMM Group of Companies, and his team met Chief Minister Biplab Kumar Deb to discuss modalities on investment and related aspects. The group earlier collaborated with a local company to establish a factory in Nagaland to produce agar based products. 

Chief Minister Deb later tweeted that “We also discussed ways to expand cooperation for the development of Tripura and our people.” They shared insightful presentations regarding the project, he added.

An elated Chief Minister enunciated that Agarwood sector of Tripura got a global recognition in reference to visit of a foreign conglomerate and its ultimate interest to invest in Agarwood industry.

HSMM Group of Companies has been 2nd biggest Indian Foreign Direct Investment group of companies based in Laos, a socialist country in Southeast Asia. It was established in 1998.

The group has several companies and two of them are essentially dealing with Agarwood and relevant business.