VISAKHAPATNAM: The state on Monday walked away with investments worth Rs 4.39 lakh crore on the concluding day of the CII Partnership Summit. While the quantum of investments bagged this time round isn’t as impressive as 2016 and 2017 which saw the signing of deals worth Rs 4.78 lakh crore and Rs 10.5 lakh crore respectively, the number of MoUs signed rose to 734 compared to 328 in 2016 and 665 in 2017.
On the final day of the summit on Monday, the state government clinched deals worth Rs 2.21 lakh crore through 369 MoUs in various sectors which are expected to create over seven lakh job opportunities once realised. While Reliance Industries Ltd, India Gas Solutions — a joint venture by RIL and British Petroleum — and Adani Group were among the major investors with a collective investment of Rs 1 lakh crore on the first two days, Vedanta Group signed a deal worth Rs 21,500 crore on the final day under which infrastructure and energy projects will be established in the state.
Speaking at the valedictory session, Chief Minister N Chandrababu Naidu said his government was committed to giving a red carpet welcome to investors and extending support to facilitate the establishment of projects. “The conclusion of the summit marks Day Zero of the launching of the projects. If investors submit their detailed project reports immediately, we will give all statutory clearances within 21 days. If there is any problem, give me a call and I will personally resolve the issues,” he said. Andhra Pradesh has the highest conversion rate — 58.7 per cent — in terms of the number of MoUs signed. The conversion rate of the quantum of investments is 43 per cent.
Naidu added that the next partnership summit would be held at Visakhapatnam in 2019 and hoped to see a better conversion rate.Governor ESL Narasimhan, who attended the valedictory session as the chief guest, assured the investors of a secure business environment in the state. “As the first citizen of Andhra Pradesh, I assure you that my state is completely safe to invest in. There is no fear of investments going awry. As far as security of investments is concerned, we are right at the top,” he said. He added that AP was the best choice for investors because it has necessary infrastructure and an able and proactive government.
4 decades,not out!
Governor ESL Narasimhan congratulated CM Chandrababu Naidu for completing four decades in public life. The Governor told the CM: “You have slogged for four decades now. The next decade, which begins on Tuesday, will be the year of growth and you will see all the fruits of your hard work.”