VIJAYAWADA: Asserting that Speed of Doing Business is the speciality of Andhra Pradesh, Minister for HRD and IT Nara Lokesh said that trust and speed positioned the State as the destination for investments.
Participating in the Round Table meeting themed “The Fast Lane: Investing at the Speed of Growth,” at Davos on Thursday, Lokesh said the State has set a target to be recognised as a “Day-Zero Ready State” by 2035, enabling project implementation to begin within weeks of investment decisions.
Stating that Andhra Pradesh is transitioning from the Ease of Doing Business framework to the Speed of Doing Business model, he felt that time savings translate into a key advantage for investors.
He said real-time data-driven unified digital governance is being used to identify and resolve bottlenecks in advance, enabling faster execution. He said SIPB meets every month to review project progress, resolve inter-departmental issues and approve new proposals.
He said certainty in execution and adherence to timelines are more critical than policy incentives, prompting the State to adopt a governance model focused on, time-bound outcomes.
Lokesh said that MSME parks are being established across all 175 Assembly constituencies to promote decentralised industrial growth. Sector-specific clusters based on local resources including agro-processing, marine products, textiles and electronics are being developed to generate employment.