Visakhapatnam Special Economic Zone pressing ahead despite pandemic

Duvvada (Visakhapatnam): Visakhapatnam Special Economic Zone (VSEZ) zonal development commissioner A Rama Mohan Reddy unfurled the tricolor on the premises of VSEZ administrative building here with restricted attendance of officers and security staff with all quarantine measures. Shobit Gupta, Dy DGFT from Delhi, was a special invitee on the occasion.

Speaking on the occasion, Reddy said that the zone was set up in 1989 as a multisector SEZ spread over 360.5 acre with lots of greenery preserved despite industrial activity and with 65 operational units and exports hovering around Rs 1,600 crore per annum. The VSEZ as a whole has 61 SEZs and 523 units spread over three states with an investment of Rs 76,681 crore providing employment to 4.5 lakh people directly. Despite the country being in deep economic crisis due to pandemic, VSEZ has achieved a growth of 22 per cent in the first 4 months of the fiscal year with exports to the tune of Rs 34,000 crore. Especially the merchandise has shown a growth of 30 per cent.

He says corona has taken many lives of officials of VSEZ, and many from the units like Brandix, Laurus Labs, Reddy's Laboratories as they continued serve the nation during Covid second wave. He appreciated the role of VSEZ , for its contribution to the exports of Rs 1,13,975 crore of foreign exchange during last year with 14.5 per cent growth.

He also requested all the participants to remember freedom fighters like Lal Bahadur Sastri, who led his life with honesty and simplicity as an example.

On the occasion, Ram Mohan Reddy distributed mementoes to persons who rendered commendable services during lockdown, including visiting doctors, the wards of the persons who lost their lives, security personnel, horticulture and housekeeping teams.