VISAKHAPATNAM: Chief Minister YS Jagan Mohan Reddy has constituted a special committee, comprising the chief secretary, special chief secretary (industries), to monitor the progress of the implementation of MoUs, IT and Industries Minister Gudivada Amarnath told reporters on Monday. He explained, “The committee will meet once a week, while the chief minister will hold a review meet once a month.”
Brand Jagan and his leadership credibility has helped Andhra Pradesh attract investment proposals to the tune of over `13 lakh crore through 352 Memoranda of Understanding (MoU) during the recently-concluded Global Investors Summit, he added. Stating that the government has a responsibility to showcase the natural resources of the State, he said, “The summit has placed Visakhapatnam on the global map.”
Responding to apprehensions raised by some political parties on the grounding of these projects, Gudivada asserted, “In the last three-and-a-half years, the YSRC government has a good track record of realising 89 per cent of MoUs signed.”
Elaborating, the minister said Jagan is very keen on ensuring that at least one MoU is realised every month. “An action plan is being chalked out in this direction,” he added.
Pointing that over 40,000 acres of industrial estate is available in the State, he said clearances from 23 departments were being given in 21 days through single-window system.
Stating that MoUs worth Rs 35,000 crore were signed under the IT sector, he said the summit has shown a path of progress, created employment opportunities for youth, and will help improve the economy.
Elaborating on the advantages that make the State ideal for investments, Gudivada said, “The State has stood first in Ease of Doing Business for the last three consecutive years. There has been jump in exports of marine, agro-based and pharma products. Three of the 11 industrial corridors in the country are in Andhra Pradesh, which also has the second longest coastline of 974 km. The State has a population of 5.30 crore people, and of them 70 per cent are of working age.”
Explaining that the government’s objective is to develop economy and provide employment for youth, he said to achieve the twin objectives, the government has showcased the resources in the State to attract investments.
“After bifurcation, the State lost Hyderabad, a major financial hub. The only city in Andhra Pradesh that can match Hyderabad is Visakhapatnam,” he opined. Replying to a question, Gudivada said Vizag will begin functioning as the executive capital from the upcoming academic year and CM Jagan will also shift to the Port City soon.