Vizag has a huge potential to grow in 3 sectors

Visakhapatnam: The city of Visakhapatnam has the potential to grow in a larger way in three sectors, said Mizoram Governor K Hari Babu.

Attending as chief guest at the Bizz Buzz Business Conclave closing ceremony organised by The Hans India and Bizz Buzz in collaboration with the World Trade Center, Visakhapatnam, here on Saturday, the Mizoram Governor said, "If we look at the fastest growing cities around the world, the cities having coastal areas and international air connectivity would develop fast. There are vast opportunities in the port city to invest in the pharmaceutical, agriculture and IT sectors."

Speaking further, Hari Babu said, "The city of Visakhapatnam is endowed with natural resources and is considered as 'Shanghai' of Andhra Pradesh." The state has the capacity to develop another five to six ports, he opined.

The economy would be strengthened by increasing exports from the state to foreign countries by going 'vocal for local' and encouraging local products.

The Mizoram Governor said Prime Minister Narendra Modi's goal was to make India one of the top three economies in the world, which required cooperation of all the states.

Further, Hari Babu said the development of the tourism sector would generate income as well as employment opportunities to the youth in AP.

He said if the cruise terminal opens in Visakhapatnam, the tourism sector will grow significantly. Similarly, he opined that there are vast opportunities for temple tourism in the state.

On fuel consumption, the Mizoram Governor said reducing fuel consumption in the country would strengthen the country's economy at large. As an alternative to the fuel, Hari Babu said, ethanol producing projects will be set up largely in the next three years. He expressed confidence that petrol and diesel vehicles would disappear completely after fifteen years.

The Mizoram Governor congratulated the management of The Hans India for organising such a massive business conclave in Visakhapatnam.