VISAKHAPATNAM: The advantages of investing in Andhra Pradesh will be highlighted at the Global Investors Summit 2023 to be held in Vizag on March 3 and 4, Minister for IT and Industries Gudivada Amarnath said.
Speaking to mediapersons here on Tuesday, he said 14 Ambassadors and Secretary level officials and representatives of European Union Chamber of Commerce will attend the summit.
Delegates from 25 countries are likely to participate in it. The summit will be inaugurated by Chief Minister YS Jagan Mohan Reddy on March 3. There will be an exhibition with stalls set up by various industries. Several MoUs will be signed on the second day of the summit on March 4.
“Our focus will be on 14 sectors, including IT, agriculture, health, pharma, tourism and others. We are aiming to attract investments worth Rs 2 lakh crore during the two-day summit. The GIS will certainly help speed up industrial development in the State,” he hoped.
WATCH |
As the existing industrial policy comes to an end on March 31, a new policy for 2023-28 with emphasis on attracting more industries to the State will be unveiled soon. The government will give additional support to industrialists who come forward to set up industries within six months of signing MoUs, he stated.
The focus will be more on green energy. The renewable energy sector is expected to attract huge investments. As many as 29 places have been identified in the State for the purpose. Similarly, the government will lay emphasis on development of 646 sq km Petroleum, Chemical and Petrochemical Investment Region Project, he elaborated.
The opportunities to develop the State using its advantage of 974 km long coastline will be exploited fully. The Maritime Board will develop four ports and fishing harbours with Rs 15,000 crore. The first phase of Ramayapatnam port will be commissioned by the year-end. Foundation will be laid for Machilipatnam port soon. About 10,000 acres will be earmarked near each port to set up industries, he added.