Summit to generate over 6 lakh jobs: Jagan 

Over 352 MoUs executed with commitment of over `13L crore; Renewable energy sector gets significant investment
Andhra Pradesh CM YS Jagan Mohan Reddy virtually inaugurated 14 manufacturing units during the valedictory event of GIS in Visakhapatnam on Saturday | Express
Andhra Pradesh CM YS Jagan Mohan Reddy virtually inaugurated 14 manufacturing units during the valedictory event of GIS in Visakhapatnam on Saturday | Express

VISAKHAPATNAM: Andhra Pradesh has garnered an investment commitment of `13,05,663 lakh crore, involving 352 MoUs, which has a 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 CM 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 into 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 the State government’s unflinching support, he requested the investors to finalise the grounding of investments at the earliest. 

“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. 

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