Visakhapatnam: Chief Minister Y.S. Jagan Mohan Reddy has called upon all those who entered into memoranda of understandings to start investing in the state immediately by assuring to extend all requisite support.
Addressing the valedictory session of Global Investors Summit (GIS) here on Saturday, he thanked all those who reposed faith in the state government and advised them to expedite the process of setting up industrial units and business establishments for a seamless process to go about it.
Reddy announced the formation of a monitoring committee, headed by the chief secretary with officials from CMO and special chief secretary (industries). The panel will meet once in a week and clear investment applications without hurdles.
Meanwhile, Reddy virtually inaugurated 14 industrial units, worth Rs 3,841 crore with a capacity to generate employment to 9,108. They include Kimberly-Clark, Bluestar, Havells India, Sarda Metals and Alloys. He said that such units coming to the state reflected the government’s commitment that was backed by all the needed support, including a skilled workforce, to help them establish units and flourish.
He said that the energy sector attracted investments to the tune of Rs 8,84,823 crore with 40 MoUs while the IT sector attracted Rs 25,587 crore. Both together were generating over three lakh jobs, he said. Tourism sector secured Rs 22,096 crore from 117 MoUs. It will provide employment to 30,787 persons.
The Chief Minister stressed that the renewable energy sector had high potential as investments made on pumped storage, green hydrogen and green ammonia will help clear hurdles so as to go ahead with generation of renewable energy. This will also help India as it strives for green energy.
Explaining about how the two days summit was organised, he said that 15 sessions were held with the participation of nearly 100 speakers explaining about the strength of the state to make investments in sectors like automobile, electric vehicle sector, healthcare and medical equipment, renewable energy, green hydrogen, green ammonia, agri processing and tourism. He stated that they had four more sessions to explore investment opportunities in the state with delegates from UAE, Netherlands, Vietnam and western Australia. He said that 137 stalls set up in the exhibition with one district-one product as a theme, attracted the delegates.
Referring to the state’s economy in the last three-and-half-years, Reddy said that despite the adverse Covid-19 impact, they had protected all sectors with good governance and adopting efficient policies to regulate deficit in the economy so that there was no major impact on industries, business and commercial establishments in the state.
While thanking all delegates drawn from across the globe, Reddy said that the summit would be of immense help to develop a conducive atmosphere and make AP a preferred destination for both domestic and global investors.
