Andhra investor meet: 32 MoUs worth Rs 1.95 lakh cr on Day One; Naidu guarantees acceptances in 21 days
Vishakapatnam: The Andhra Pradesh government on Sunday said it’s signed 32 MoUs with various businesses calling for an investment of Rs 1.95 lakh crore on the inaugural day of the three-day long venture summit here.
“We’ve signed 32 Memorandum of Understanding (MoU) which would bring investments to the tune of Rs 1.95 lakh crore in the state.
He further said the overall investment would create job opportunities for almost 95,000 individuals.
One of many examples which Naidu gave was of Anil Ambani directed Reliance declaring setting up of a brand new ship building facility with an initial investment of Rs 5,000 crore in the state.
Earlier in the day, encouraging foreign and national investors Naidu said the state authorities will supply all clearances and approvals in a transparent manner and in a quick while.
Speaking at the inauguration of the summit here, he said the state has all the significant components including skilled labour, power, land, natural and water resources.
Naidu also requested the Finance Minister Arun Jaitley and Commerce and Industry Minister Nirmala Sitharaman to support the state as it’s confronting issues associated with finance and tax following the bifurcation.
Naidu said his government is working to decrease the amount of approvals and permissions to ease investors.
“I can give you good government, simplification of processes… should you invest in Andhra Pradesh, you’ll not loose anything and you are going to have exceptional gain,” he said encouraging all investors to start an office in the forthcoming capital city of the state and sign an MoU before leaving this summit.
Talking at the occasion, Jaitley said:
Sitharaman also said the authorities will work together with the state in its fullest capability to make sure that this states’ prosperity factored into preparation and the Budget.
“In case the Finance Minister as well as the Prime Minister are expecting to get a two digit-growth for this particular nation, it must occur in every corner of the state and that sometimes happens as somebody rightly pointed out the engine for the increase ought to be from Andhra Pradesh. It’s everything – rivers, minerals, human resource,” she said.
Delegates and participants from about 45 states are participating in the summit.