AP hosts investment drive in Chennai to promote GIS Vizag

Vijayawada: Andhra Pradesh is hosting an investors’ drive in Chennai on Friday as part of its efforts to attract businesses and investors for the upcoming Andhra Pradesh Global Investors Summit (GIS) 2023.  The event in Chennai follows a successful event in Bengaluru on February 14, preceded by an equally prominent curtain-raiser event in New Delhi on January 31.

Officials said the investor drive has been carefully designed to give businesses and investors a taste of what's to come at the summit. The meet would take place in Visakhapatnam on March 3-4. Under the theme of "Advantage Andhra Pradesh - Where Abundance Meets Prosperity," the summit would showcase the state's strong industrial base, robust presence of MSMEs and start-ups, and investor-friendly atmosphere.

 The summit is intended to highlight the “formidable industrial base, well-established presence of MSMEs and start-ups, and overall investor-friendly environment of the southern state.”

 “With a sizable manufacturing base, impressive infrastructure, business friendly policies and skilled and talented young population, Andhra Pradesh is widely recognised as a key player in the Indian economy,” says the government.

 The GIS Vizag would offer a deep dive into critical sectors such as IT, manufacturing, pharmaceuticals, automobiles, tourism, and energy. The conference would provide businesses a chance to network and the state to engage with key investors, influential industry leaders and officials, with attendees having the opportunity to explore the diverse range of investment prospects available throughout the state, officials claimed.

 The officials said, “Andhra Pradesh is well-known for its large manufacturing base, excellent infrastructure, business-friendly environment, and pool of talented, skilled young people. All the advantages and facilities and schemes will be explained in the Chennai meet and we will clear all the doubts of the participants during the interactive session.”

 “AP has consistently ranked first in the Ease of Doing Business (EoDB), for the last three years, which is significant given that this survey is based on stakeholder feedback.”

 “According to the numbers released thus far, AP has the highest double-digit GSDP growth rate in the country in 2021-22, at 11.43 per cent. It also has maritime infrastructure, as it is the gateway to Southeast Asia, with 974 km of coastline, the second longest in the country, 6 airports, 6 existing ports, and 4 upcoming ports. It has a favourable business environment and industry-focused policies, as well as a proactive government guiding the state.”

 Officials also noted, “Three of the country's eleven industrial corridors are being built in Andhra Pradesh alone. To name a few, the state has received the LEADS award for logistics 2022, the Enertia Award for Energy 2022, the ET award for port led, and the infrastructure project 2022.”