Andhra Pradesh inks 35 MoUs worth Rs 3.65 lakh crore as CM Naidu pitches state as India's top investment hub

Visakhapatnam (Andhra Pradesh) [India], November 14 (ANI): Andhra Pradesh Chief Minister N Chandrababu Naidu announced that the State Government's mission is to make Andhra Pradesh the number one destination for investments in the country, following the principle of Speed of Doing Business.
According to a release, a day before the Global Investment Summit in Visakhapatnam on Thursday, the Chief Minister participated in a series of programs, comprising 15 meetings, from morning until late at night.
The Andhra CM interacted with investors and held one-on-one discussions with representatives from Taiwan and Italy, explaining the opportunities available in various sectors across the state.
He briefed them on the sectoral priorities and investment-friendly environment developed in different regions, along with improvements in connectivity and logistics. The Chief Minister urged the ambassadors of Taiwan and Italy to encourage their industrial groups to invest in the state of Andhra Pradesh.
Several companies came forward with concrete proposals and signed 35 MoUs on a single day in the presence of the Chief Minister. These MoUs together represent ₹3.65 lakh crore in potential investments and are aimed at creating 1.26 lakh jobs, even before the official inauguration of the Investment Summit.
Among the investor companies like ReNew Power, which had previously exited the State during the earlier government's tenure due to unfriendly policies. Over the two-day Partnership Summit, total investments are expected to touch around ₹10 lakh crore. The government expressed satisfaction that investments worth ₹3.65 lakh crore have already materialised before the summit.
CM Chandrababu Naidu held a series of meetings with representatives from various industries that came forward to invest on a large scale. He also participated in MoU signing ceremonies.
Speaking on the occasion, he stated, "It is heartening to see investments of this magnitude even before the CII Summit begins. He thanked all the industrialists coming forward to invest in Andhra Pradesh. National and global companies like Google, ArcelorMittal, and BPCL are showing interest in establishing industries here. India is developing rapidly, and Andhra Pradesh must lead that race. Our goal is to make AP the frontrunner in attracting investments, he added.
He highlighted that green energy offers vast potential in Andhra Pradesh and that the State's Energy Policy is yielding excellent results, attracting large-scale investments in the sector. He said, "With a 1,000-km coastline, AP will become the logistics hub of India through its ports, road, and rail network. There are opportunities across all sectors - horticulture, agriculture, aquaculture, and food processing, Space City, Drone City, and Electronic City projects. The State also has abundant mineral wealth, the Chief Minister added."
He said the government is working with the motto One Family, One Entrepreneur' ensuring opportunities for every innovative idea. He said the government is allotting land to every company that signs an MoU, and there will be no delays in permissions or clearances, he assured. (ANI)