VISAKHAPATNAM: Andhra Pradesh has garnered an investment commitment of 13,05,663 lakh crore, involving 352 MoUs, which has the potential to create as many as 6,03,223 employment opportunities during the two-day Global Investors Summit (GIS), said Chief Minister Y S Jagan Mohan Reddy on Saturday.
In his valedictory address at the Summit, the Chief Minister said, “Commensurate with the overwhelmingly positive business sentiment, we have executed 352 MoUs with an investment commitment of over 13,05,663 lakh crore that has a potential to create 6,03,223 jobs. As many as 40 MoUs worth 8,84,823 crore of investment has been signed that will create employment for 1,90,268 people in the energy sector alone. In the IT & ITES sector, 56 MoUs have been signed amounting to 25,587 crore investment, which will generate employment for 1,04,442 people. In the Tourism sector, 117 MoUs have been signed for an investment to the tune of 22,096 crore that will create employment for 30,787 people.”
“One of the sectors in which significant investments have been committed is the renewable energy sector. The proposed investments made in the pumped storage of the renewable energy and production of green hydrogen and green ammonia, will go a long way in mitigating the intermittency associated with renewable energy and render it a credible alternative to fossil fuel-based generation. This will make a significant contribution to green energy space will boost India’s commitment towards achieving net zero,” Jagan added.
The Chief Minister said that the government would demonstrate its ‘speed of facilitating businesses’ in order to take the commitments forward. While assuring State government’s unflinching support, Jagan requested the investors to finalise the grounding of investments at the earliest.
Govt to set up committee to oversee progress of MoUs
“We are committed to speedy and hassle-free conversion of these MoUs singed to actual investment. We are forming monitoring committee consisting of Chief Secretary and CMO officials with the Special Chief Secretary (industries). This committee will meet every week and follow up on the implementation of these MoUs,’’ he said.
“This phenomenal optimism shown by the investors in the past two days encourages our efforts to make business environment more conducive,’’ Jagan said and added that during the past three-and-half years of his government, the economy revived at a faster pace owing to timely impetus given to various sectors.
“Good governance and effective policy intervention safe-guarded the economy and ensured business eco-system is not jeopardised,’’ he asserted. Jagan Mohan Reddy emphasised that his government laid the path for facilitating conducive business environment by improving skills of youth, making internet services far more accessible. “This summit played key role in projecting Andhra as the most favoured investment destination for both national and international investors community,’’ he said.
During the summit, 15 sector sessions were organised with over 100 speakers showcasing AP’s growing strengths. These 15 focus sectors, include automobile & EV sector, healthcare & medical equipment, renewable energy, green hydrogen, green ammonia, agri processing tourism.