AP: Global destination

Vijayawada: Presenting a factsheet in the AP Assembly on Thursday on how his government was trying to restore the confidence of the investors in the state, Chief Minister N Chandrababu Naidu said the government wants to make Andhra Pradesh as the global destination for investments so that youth can get employment and the state can generate more revenue which in turn can be used for the implementation of welfare schemes.

Naidu said that efforts were on to set up 22 lakh SMSEs and the government had allocated Rs 500 crore as corpus fund for the innovation hub and it would be integrated with 175 industrial parks. He said the government would also encourage food processing parks on a large scale if farmers came forward. For this, he said three tribal districts (agency areas) would be declared as organic zones.

The CM said during the last five years of YSRCP regime, 227 MoUs were signed but drew no investments. The frequent hike in power tariff and taxes killed industrial growth in the state. Before 1995, it was licence raj which led to poor industrialization and now it was wrong and destructive policies of the previous YSRCP government which had pushed the state backwards in development, Naidu said.

He said the NDA alliance government in the state aims to create 20 lakh jobs in five years and one entrepreneur per family. A senior IAS officer will be appointed as escort officer to coordinate with the investors. The Chief Minister said that the state government will give additional ten per cent early bird incentive to those who come to invest first.

Naidu said the government has set a target to attract Rs 50,000 crore investments in the MSME sector and Rs 30,000 crore investments in the food processing sector.

He said Green Energy, Green Hydrogen and Compressed biogas plants will be set up in the state to provide more employment opportunities. He also said that soon the Ratan Tata Innovaton Hub in Amaravati would become functional. He said the government will encourage horticulture in Rayalaseema, aqua in coastal belt and coffee in Araku valley.

The CM said the state government would work in close coordination with the Centre and will ensure that AP emerges as the first choice of all investors. He said efforts were also on to reduce taxes and give the best incentive to the investors.