VIJAYAWADA: Minister for HRD and IT, Nara Lokesh, credited Chief Minister N Chandrababu Naidu’s 10-month leadership for restoring confidence among the industries and attracting investments to Andhra Pradesh. On Monday, he laid the foundation for Varun Bay Sands, a modern hotel-office project in Visakhapatnam, positioning the city as a global investment hub.
Addressing the gathering, Lokesh reaffirmed the government’s commitment to making Visakhapatnam an economic powerhouse. The event, attended by his mother Nara Bhuvaneswari and key industry leaders, marked a major milestone in the State’s industrial resurgence.
Hailing the revival of ‘Brand Babu’ and ‘Brand Vizag’, He emphasised how Naidu’s leadership has created a business-friendly environment. Highlighting past setbacks, he criticised the previous government’s ‘destructive policies’, which he claimed drove investors away, stalled projects, and led to economic stagnation. Citing the withdrawal of companies like the Lulu Group, Lokesh contrasted the TDP-led administration’s efforts to restore investor confidence.
The Varun Bay Sands project, developed by the Taj Varun Group along Beach Road, exemplifies this renewed growth strategy. Lokesh stressed that Vizag is not just a picturesque coastal city but a stronghold of the Telugu Desam Party (TDP), which has consistently enjoyed the support of its people.
He outlined ambitious plans to generate five lakh IT jobs in Vizag within five years, supported by infrastructure projects such as the Bhogapuram Airport and a world-class cricket stadium. Under Naidu’s vision of One Capital, Decentralized Growth, the government aims to make Vizag India’s fifth-largest economic hub.
The Rs 500-crore Varun Bay Sands project, a first-of-its-kind in Andhra Pradesh, will introduce premium hotel and Grade-A office spaces. The project’s first phase is expected to create 3,500 direct and 500 indirect jobs, further boosting youth employment and entrepreneurship.
Lokesh emphasised that the office tower within the project will foster startups and innovation, making Vizag a centre for commerce, technology, and hospitality. He also highlighted the government’s plans to develop 50,000 hotel rooms statewide over the next five years to enhance tourism.
Expressing gratitude to the Taj Varun Group and industry leaders, Lokesh called for collective efforts to make Vizag greener, wealthier, and an economic powerhouse, aligning with Naidu’s goal of transforming Andhra Pradesh into a global business hub.