YS Jagan Mohan Reddy seeks global investments in AP

YS Jagan Mohan Reddy, Chief Minister of fastest-growing Andhra Pradesh, outlined the numerous benefits of investing in the state’s plug-and-play industrial environment and urged global nations to invest in the state and contribute to its economic growth.

Addressing the International Diplomats Alliance Meet here on Tuesday, the Chief Minister exhorted them to participate in the Global Investors Summit (GIS), scheduled to be held in Visakhapatnam on March 3 and 4. “Here I am to invite you to Visakhapatnam, which is going to be our capital, in the days to come. I myself would also be shifting over to Visakhapatnam in the months to come as well”,” he added.

Tuesday’s meeting in which diplomats of various countries, company representatives, and officials of the state and central governments have participated, is a curtain-raiser for the GIS.

Elaborating on the facilities and resources available in the state for industrial growth, he said that out of the eleven industrial corridors being developed by the centre across the country, AP shares space for three of them: Hyderabad to Bangalore, Visakhapatnam to Chennai, and Chennai to Bangalore.

As a fastest growing state in the country with a GSDP of 11.43 %, AP has achieved the number one rank in the Ease of Doing Business (EoDB) and also retained it for the third consecutive year, he said.

Having a lengthy coastline of 974 km, the state has vast natural resources with 48 minerals , he said, adding that the state has a single desk portal to clear licenses in 21 days.

He underscored the fact that the availability of various industrial clusters like textile, cement, medical, renewable energy, food, and automobiles would offer plenty of opportunities for industrialists to make investments in the state and grow their businesses, aside from providing employment to the youth.

The state has excellent connectivity with six seaports and six airports, with four more seaports to be added soon, said the Chief Minister, outlining that the state stands as the gateway of South East Asia due to its strategic location and the added advantage of inland water ways.

Earlier, CEOs of companies like Toray, Kia Motors, Cadbury, Saint Gobain, and Apache spoke about the advantages of setting up industries in AP and appreciated the government’s efforts in extending cooperation to them. They said that the AP is the best destination for them as it has a committed bureaucracy and political leadership.

The dignitaries also watched an AV ‘Advantage Andhra Pradesh’ presentation by the government on the 360 degree advantage it has in every sector. The Chief Minister also interacted with the participants and exchanged views freely.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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