CII Partnership Summit: AP to sign over 281 MoUs worth Rs 2.56 lakh crore

Andhra Pradesh government is all set to sign at least 281 memoranda of understandings (MoUs) at the annual CII Partnership Summit to be held from February 24 at Visakhapatnam.

The officials informed Chief Minister N Chandrababu Naidu at a meeting of AP State Investment Promotion Board (AP SIPB) held in Amaravati that the proposed agreements involving Rs 2.56 lakh crore of investments would offer employment to at least 4.25 lakh persons. 

Proposing a distinct institutional mechanism to track and monitor the investment procedures with a Special Advisory Task Force along with an organizational structure, the officials informed that AP had attracted 1,817 projects with a combined committed investment of Rs 14.89 lakh crore employing 33.28 lakh people in the duration of three and a half years. 

Also, that 876 MoUs were signed in the Partnership Summits of 2016 (290) and 2017 (586). 

The official EODB website placed Andhra Pradesh at number 1 position even in the implementation of Business Reforms Action Plan (BRAP), while the state has already secured the top slot in World Bank’s Ease of Doing Business (EODB) rankings among the Indian states. 

Chandrababu has directed the officials to prepare a report including the next generation reforms the government plans to implement to present at the ensuing Partnership Summit. He also suggested holding a separate session at the Summit on Ease of Doing Business to learn more regarding the best practices of corporates across the world. 

The Chief Minister even advised the officials to prepare exhibits reflecting the achievements, desires and potential of Andhra Pradesh.

The Summit has already finalised sessions revolving around the sectors such as aerospace, defence, tourism, automobile, medical equipment, textiles, food processing, electronics and renewable energy.