HYDERABAD: Andhra Pradesh Chief Minister N Chandrababu Naidu, who had christened the new capital city of the State after ancient Buddhist town Amaravati with an intention to woo investors from Buddhist countries, will be making an all-out attempt from Monday to persuade Japanese business giants to invest in the reorganised State.
Naidu, who reached Tokyo on Sunday, will be spending next two days there by holding a series of meetings with the representatives of various Japanese companies in order to attract investments to the State, besides entering into MoUs with some of them to help the State government in realising its dream of constructing a gigantic capital for AP, which will outdo Hyderabad city on all fronts.
The Chief Minister is also expected to meet Japanese Prime Minister Shinzo Abe to invite him to take part in the foundation stone laying ceremony of new capital city, scheduled to take place on October 22.
According to sources, Naidu already took the clearance from Prime Minister Narendra Modi to extend invitation to the Japanese Premier for the grand function, which will be graced by Modi himself.
On Monday, Naidu will be meeting representatives of Fuji Electric Co., Ltd, Mitsubishi Motors Corporation, Mayekawa, Sumitomo Corporation, Mizuho Bank, Ltd, which is the integrated retail and corporate banking unit of Mizuho Financial Group.
On Tuesday, he is expected to hold confabulations with the top brass of SoftBank Group Corporation, which is a Japanese multinational telecommunications and Internet corporation, and Mizuho Financial Group, which is one of the prominent financial institutions in the world.
Sources said, during the tour, Naidu will clinch several key deals with the Japanese companies in order to set up their branches in AP.
“Mizuho Financial Group is likely to enter into an agreement with the AP government to provide its services to the State to transform it into an industrial hub,” an official said.
Tokyo-based NEC Corporation, a multinational provider of information technology services and products, is expected to make an agreement with the AP Technology Services Limited (APTS) to provide IT solutions to the State government’s efforts to develop smart cities in the State.
Naidu is also expected to call on Japanese Finance Minister in order to seek loans from the Japanese financial institutions for construction of the new capital city.
In fact, seeking to promote Japanese investments in AP, Chief Minister Naidu during his earlier visit to Japan promised the investors in that country that his government would set up dedicated industrial townships and clusters for Japanese in AP. He also told them that Japanese schools woul be set up in the State.
“Make AP as a destiny for Japanese investments, build another Tokyo in new capital region of AP there you have so many opportunities. I want to do business most efficiently and for that I am assuring you ease of doing business through speedier clearances, infrastructure and good governance,” Naidu told a Japanese delegation during its recent tour to Hyderabad.
Besides a battery of top officials from the State government, Finance Minister Yanamala Ramakrishnudu and Municipal Administration Minister P Narayana are accompanying Naidu during his visit.