CM Revanth Reddy reviews commitments made by investors in ‘24
HYDERABAD: Before embarking on a visit to Singapore and Davos, Chief Minister A Revanth Reddy, on Monday, reviewed the progress of industries which the investors had committed to setting up in Telangana at last year’s World Economic Forum meeting.
Revanth Reddy will visit Singapore from January 16 to 19 and Davos from January 20 to 22. Minister D Sridhar Babu and top officials of the Industries department will be part of the official delegation visiting Singapore and Davos.
The chief minister will hold talks with Skill University in Singapore and investors before participating in the World Economic Forum’s annual meeting in Davos.
At the review meeting on Monday, he enquired with the officials about the companies which had signed agreements with the government at the last year Davos’ meeting and the status of the investments and the companies’ operations in the state.
He said that Telangana state has emerged as the best destination for global investments for giant companies in the manufacturing and service sectors. The state government created an investor friendly ecosystem to woo industrialists from inside and outside the country, he added. He instructed officials to be ready to promote Hyderabad city, which will have a Future City soon, on the world platform and invite huge investments.
Revanth Reddy is confident that the industrial policy, which is being implemented by the state government, will attract big investments in the future. All the welfare schemes and development programmes introduced by the government in the first year helped strengthen the state economy.
He expressed satisfaction that the state had received huge investments in the first year. Telangana has signed agreements for investments to the tune of Rs 40,232 crore in Davos last year.
Of them 14 leading companies came forward to invest in the state and agreements have been signed for taking up 18 projects.
The officials briefed the CM that 17 of these projects have already started and 10 are in various stages of execution. The officials also informed him that seven projects are in the initial stages. He sought the details of the progress of the investments from each company from minister Sridhar Babu.
The officials also briefed the CM about the plans to attend the conferences and meetings organised with the representatives of the global industries and investors during Singapore and Davos visit.
Those who took part in the review meeting included Sridhar Babu, CM’s advisor Vem Narender Reddy, Chief Minister’s Special Secretary Ajith Reddy, TGIIC MD Vishnuvardhan Reddy.