Guwahati: A group from the Laos-based HSMM Group of Companies on a visit to Agartala expressed their interest in investing in the state's Agarwood industry.

Delegates from Laos, the only landlocked nation in Southeast Asia, recently visited Tripura and presented an informative presentation on the Agar industry's potential in this state. The delegates are prepared to invest privately in our state. Tripura Chief Minister Biplab Kumar Deb claimed, "The firm has an annual turnover of Rs 5,000 crore."

"Recently, a team of authorities led by Tripura's chief secretary, Kumar Alok, travelled to Vietnam and Laos to assess the industrial elements of Agarwood." " There are around 70 lakh trees in the state. Local people raised these plants without any official assistance. For decades, they were compelled to sell Agarwood goods on the illicit market. They were denied formal approval," Deb explained. In a dig at the previous Left Front administration, the Chief Minister stated, "Tripura's capital city, Agartala, acquired its name from Agar, and everyone in this state is aware of it." The previous administration had no intention of accepting this. I discussed the export quota with Prime Minister Narendra Modi's staff. Today, the central government awarded us a 25,000 metric tonne export quota, which had never been done before."

The HSMM Group of Companies is the 2nd biggest Indian Foreign Direct Investment group of companies based in Lao P.D.R established in the year 1998. The conglomerate has investments in Agarwood oil extraction facilities, Agarwood plantations, Mining, Information Technology, Perfume, and Fragrances.