‘AP emerged as investment hub in ’23’
Vijayawada: The year has seen government taking firm steps towards rapid industrialisation and the MoUs translating into momentum and investments pouring in to various sectors more so in green energy, food processing, pharma and other industries.
According to a press release by the state government, Chief Minister Y S Jagan Mohan Reddy’s initiatives had attracted investment proposals worth around Rs 13 lakh crore through more than 370 MoUs signed with various industrial houses and investors at the Visakhapatnam Global Investment Summit.
The state topped the table in the Ease-of-Doing Business (EoDB) for the third consecutive year and its proactive role has contributed in making the state as the new investment destination in various sectors with the single window clearance policy, the statement said.
Sustained efforts of the government attracted public sector and industry majors like NTPC, ABC Limited, Oberoi Group, Aurobindo Pharma, Adani Green Energy, AM Green Solar, Aditya Birla, Jindal Steel, K Raheja and Greenlam South Group transforming the State into a launching pad for several eco-friendly industries, the press release added.
It said the year witnessed emergence of several food processing, pharmaceutical, hotels, resorts, industrial, solar and green energy units worth Rs.37, 397crore in all regions resulting in equal employment opportunities, justifying Chief Minister’s vision of decentralised development for a balanced growth.
The Chief Minister also took vibrant measures to ensure the growth of MSMEs by handholding them to adopt and implement modern management systems, innovative and management skills in vogue world over, it added.
The statement said the efforts to promote MSMEs in 54 clusters by creating land banks in all districts for decentralised industrial growth paid off through the emergence of exclusive MSME parks across the State. The main feature of the parks is that they would be equipped with Common Facility Centres (CFC) for sharing knowledge, machinery, tools and testing labs for product development.
The year has seen industry bigwigs like Mukesh Ambani, Karan Adani, Naveen Jindal, GM Rao, Sumant Sinha, Hari Mohan Bangur, Preetha Reddy, Puneet Dalmia, Sajjan Bhajanka, Sumit Bidani, BVR Mohan Reddy, Sergio Lee, Suchitra K Ella, Santhanam B, Vineet Mittal, Gajanan Nabar, Masahiro Yamaguchi and Martin Eberhard gracefully visiting the state to give a fillip to the industrialisation, the statement said.