VIJAYAWADA: Stating that Andhra Pradesh stood first in attracting huge numbers of domestic investments in the country, HRD and Information Technology minister Nara Lokesh welcomed the companies driven by speed to choose the State as their destination to start their companies.
Addressing a press conference on Monday, Lokesh announced that 410 Memorandums of Understanding (MoUs) are expected to be signed at the CII Partnership Summit to be held on November 14 and 15 in Visakhapatnam. Around Rs 9.8 lakh crore investment commitments will be unlocked thus generating 7.5 lakh proposed jobs across the State.
“We are working on a mission mode providing best in class policies to the investors.
Glad to share that Andhra Pradesh got US $ 125 billion (`10 lakh crore) investments in the last 16 months. We are first in attracting domestic investments and will be the first in foreign direct investments (FDIs) very soon with our theme - Speed of Doing Business,” Lokesh shared.
Explaining about the CII Partnership Summit, Lokesh said the summit will embody a three-way partnership between the people, the government, and corporates, aligning growth with opportunity and shared prosperity.
CII Summit is a catalyst for inclusive growth: Minister Lokesh
“This summit is a catalyst for inclusive growth and a curtain raiser to Andhra Pradesh’s mission of creating 20 lakh jobs and decentralising development across every region of the State,” he emphasised, claiming that companies that choose speed, choose Andhra Pradesh.
Saying that AP has able leadership with proven track record like Chief Minister N Chandrababu Naidu, double engine governance with Central government support and speed of doing business, Lokesh said the investors and multinational companies should consider AP as their destination for investment.
“In addition, the State is building leadership in renewable energy, semiconductors, electronics, steel, ports, agri-tech, drones, AI, and quantum technologies. The government’s decentralised model ensures every district participates in and benefits from industrial growth and job creation,” he elaborated.