VISAKHAPATNAM: By next year, the target through Fintech Festival is to get `500 crore investment, 70 companies and 50,000 jobs. So far, there has been an investment of `150 crore, six big companies and 70 start-ups, said Chief Minister N Chandrababu Naidu at the formal inauguration of Vizag Fintech Festival here on Tuesday.
He further said Visakhapatnam will be developed as an Innovation Valley and one among top six Fintech Cities in the world.
“Only a few cities such as London, Hong Kong and New York are growing big with Fintech Technology and Vizag will be developed as a Fintech Hub globally in the next few years. Development does not happen in one night. Once upon a time, there was no manufacturing unit of mobile phones in Andhra Pradesh. Now, Tirupati is turning into a hardware and electronics hub with 30 per cent of mobile phone manufacturing in the country is taking place there. Amaravati will become a knowledge economy hub. Visible governance and invisible government is what Andhra Pradesh is aimed at,” Chandrababu Naidu said.
The Chief Minister said the State government is adopting total integration of technology to improve delivery mechanism and increase the satisfaction levels of people.
Currently, there is 75 per cent citizen satisfaction feedback with at least 1.5 million calls taken everyday. Stating that he is a believer of technology, Naidu said the State government has been able to predict the cyclones and rainfall correctly in real time using technology. Citing a recent survey, which showed that AP is in third position in lowest corruption in the country, Naidu said his aim is to make the State corruption-free. He also invited global industrialists to invest in the State.
Later in the day, IT Minister Nara Lokesh interacted with several industrialists and explained the progress of AP in using advanced technology. “Fintech is one of our initiatives started in 2016, which has now attracted world class companies in the past two years. AP government has been implementing several IT initiatives. AP is the first State to launch e-Pragati platform. We have been investing in startups and children of remote areas can launch their innovative ideas now,” he said. Deputy Chief Minister N Chinarajappa, HRD Minister Ganta Srinivasa Rao and IT Advisor JA Chowdary were present.