Early bird gets additional incentives at GIS

Visakhapatnam: The state government firms up its action plan not just to attract businesses but also to ground each memorandum of understanding (MoU) to be signed with major industrialists at the Global Investors' Summit (GIS) which is considered as a one-of-its-kind platform.

Scheduled on March 3 and 4 in Visakhapatnam, one of the prime goals of the summit is to draw investors' attention towards inking a bunch of MoUs and help them ground the projects in an eventful manner. To make this a reality, the AP government is set to offer additional incentives to the investors. Adding value to the '#Advantage Andhra Pradesh' campaign, the state government has introduced an 'early bird' proposition to help the investors reap huge benefits.

For those preparing to ground their projects six months after exchanging the MoUs at the summit, the state government plans to extend all the support through the proposal. Sharing details of the GIS, IT Minister Gudivada Amarnath, says, "Steps are afoot to draw a large number of investors in MSME, textile, renewable energy, tourism and hospitality sectors, among others, as they help contribute more to employment generation."

With key pointers focusing on 14 sectors such as aerospace, defence, automobile and electric vehicles, electronics and IT, healthcare and medical equipment, industrial and logistics infrastructure, agriculture and food processing, Micro, Small and Medium Enterprises (MSME), startups and innovation, pharmaceuticals and life sciences, petroleum and petrochemicals, renewable energy, skill development and education, textile and apparel and tourism hospitality, the two-day-long summit aims to attract investors from multiple sectors to the state, more so to the City of Destiny which has been hogging the limelight for umpteen reasons.

Apart from drawing the businesses and investors to Andhra Pradesh, the GIS intends to elevate the ecosystem present in the state and place it on the global map.