VIJAYAWADA: Chief Minister N Chandrababu Naidu has directed officials to focus on converting investment agreements signed with industrialists into actual investments, and ensuring that projects become operational at the earliest.
Chairing the 22nd State Investment Promotion Board (SIPB) meeting on Thursday, the Chief Minister stressed the need to expedite implementation and ensure that the commitments made by investors translate into industrial activity and production. Officials informed that work had commenced on 519 projects out of a total 714 investment agreements signed with industrialists.
The SIPB discussed various investment proposals relating to industries, energy, tourism, information technology, electronics, food processing and infrastructure development.
Naidu directed officials to facilitate the establishment of a world-class international convention centre in Visakhapatnam to enable the city to host major investment summits and other international events.
Emphasising the development potential of Rayalaseema, the Chief Minister said the departments concerned with investments, infrastructure development and food processing should play a crucial role in transforming the region into a global horticulture hub.
He also underlined the need for an integrated approach to developing Andhra Pradesh as a logistics hub, with particular emphasis on ports, airports and east-west connectivity to strengthen transportation and supply chains.
In the semiconductor sector, Naidu stressed the need to develop a comprehensive ecosystem in the State, including semiconductor manufacturing units, to attract investments.
Ministers Nara Lokesh, TG Bharath, A Satya Prasad, Gottipati Ravi Kumar, P Narayana and Kandula Durgesh attended the meeting virtually.