AP paradise for investments

Visakhapatnam: Andhra Pradesh is a gateway to Asian countries for all exports and imports and is endowed with abundant land bank and modern infrastructure, quality power supply, single window clearance and multiple seaports, most required for any industry.

On the top of it, the State has a government which functions in a transparent manner and is corruption free, Chief Minister YS Jagan Mohan Reddy told national media on the eve of Global Investment Summit (GIS) which would begin here on Thursday. He said investors from 25 countries will be taking part in the Summit where the State will be showcasing the investment opportunities in AP. The Chief Minister said his government had adopted a two-pronged strategy. One to implement welfare schemes and two to equip our students with the resources they need to stand on their own feet and reach higher goals by improving the educational standards and making them partners in development.

He said the State government was moving ahead in a proactive manner according to the views of industrialists. That is why top honchos like Ambani, Birla, Adani, Bangur, and Dalmia are now coming to our state. If there are 11 industrial corridors coming up in the country, three of them are in our state, he added.

Highlighting the focus area of the Summit, he said AP has 48 types of minerals available which are suitable for mineral-based industries. It has 82 gigawatts of renewable energy capacity and 34 gigawatts of pumped storage projects. AP will play a key role in green and hydro energy in the future, he said. Jagan said the government was focussing on attracting investment in industries like green hydrogen and pumped storage power generation from renewable sources.

According to Industries Minister G Amarnath, the state will provide a one-stop digital platform for all domestic and foreign investments through Andhra Pradesh Single Desk Portal and business-specific approvals to set up companies will be granted in 21 days' time.