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A feather in AndhraPradesh cap on financial capital
The AP government on Monday kick-started the process of building a ‘financial capital’ as a feather in the capital’s cap through the controversial Swiss Challenge method by laying a foundation stone at Mandadam in Amavarati region. Chief Minister N Chandrababu Naidu while speaking at a public meeting along with Singapore Trade Minister Iswaran, termed the initiative as a ‘paradise in the maki
Naidu, Iswaran lay foundation for start-up area project
Amaravati: The AP government on Monday kick-started the process of building a ‘financial capital’ as a feather in the capital’s cap through the controversial Swiss Challenge method by laying a foundation stone at Mandadam in Amavarati region.
Chief Minister N Chandrababu Naidu while speaking at a public meeting along with Singapore Trade Minister Iswaran, termed the initiative as a ‘paradise in the making’.
Wealth plays key role in building happiness index and the proposed financial capital is aimed to realize this objective, he asserted. He said start-up area development as an initial step towards creating a financial hub is a milestone in the history of the state capital. Faced with controversies surrounding the Swiss Challenge method, the Chief Minister claimed to have ensured transparency while awarding the start-up area project to the Singapore Consortium of Companies.
“We sent invitations to 47 embassies and 141 companies worldwide but no country, including Japan came forward to participate in bidding for start-up area project through the Swiss Challenge method.Singapore is the only country which showed interest to take up the project within the realm of the AP government’s terms and conditions,” the Chief Minister said. The Singapore companies have a rich experience of constructing around 5 lakh crore sqft built-up area that prompted the AP government to involve them in the project,” Naidu said.
The Chief Minister termed his mission to build capital as a divine cause and said he was aimed to create heaven on earth. Singapore Minister Iswaran said that the start-up area would be the home to international and national companies which would make Amaravati a vibrant city. “Being a financial hub apart, it will offer the best residential, recreational and public facilities in Amaravati,” he said.
A 59-member delegation arrived in the capital to witness the spectacular event and take part in a series of MoUs. AP and Singapore signed an MoU for economic development in AP, enhancing capacities of government departments and agencies and promotion of bilateral trade and investment, besides building the start-up area project.Iswaran said the MoU will make way for a establishing linkages worldwide with Amaravati for economic development. Earlier principle secretary Ajay Jain welcomed the gathering.
