Russian Governor in AP to explore FDI options

Visakhapatnam: Boris Dubrovsky, Governor of Chelyabinsk region and other industrialists from Russia visited Vizag as part of their foreign direct investment plans in developing the state of Andhra Pradesh, for which a meeting was held at a hotel in the city.HRD minister Ganta Srinivasa Rao was the chief guest at the programme. Speaking on this occasion, he said that there are plenty of facilities for investments in the sectors of defence, manufacturing and infrastructure at Andhra Pradesh and foreign investors should make use of those resources.

Highlights:

• Amaravati the new capital city is being built with world class standards
• Vizag is the best place with the longest coastal line, which gives a vast scope for AP to develop a ship building cluster

The World Bank has identified Andhra Pradesh as the best place for investments and the state government also cooperates in building up friendly atmosphere for doing business to the investors.Rao also said that last year during the Chief Minister’s visit to Russia he invited Russian government and other foreign delegates for doing business in AP. As per his invitation Russian governor, ministers and other industrialists visited the state .He also added that Vizag is the best place with the longest coastal line, which gives a vast scope for AP to develop a ship building cluster.Chelyabinsk region of Russia was running large scale industries with heavy mechanised equipment in their region. The minister appealed to them that they should also come forward to invest in AP, as it has rich mineral wealth.

Highlighting the progress being made in the state, the minister said that Amaravati the new capital city is being built with world class standards. ‘Nearly USD 200 billion was being spent for logistic hub and USD 7 billion for the development of roads. Along with this already we have six ports and six airports and we are planning to develop seven ports and four airports more. Hence, there is also scope for an investment in those sectors also. We invite investments from Russia for the developmental activities related to one coastal economic zone and three industrial corridors, Srinivasa Rao elaborated.
In his response, Boris Dubrovsky, said that both countries are maintaining good relationship since many decades, especially in metallurgy and machine building sectors.

To make this relationship stronger we have a goal to increasing the trade up to USD 65 million, he informed. He also invited the Indian industrialists and investors to invest in their region, also added that their region is well equipped and good for business. Later he made a power point presentation on the Economic and Investment Potential of the Chelyabinsk Region.J Krishna Kishore IRS, CEO of Economic Development Board, Andhra Pradesh made a power point presentation and gave a welcome note and explained the about the resources available in the state.

he vote of thanks was given by G Sambasiva Rao, President of AP Federation of Chambers of Commerce and Industry who also presented the mementos to the dignitaries. Praveen Kumar, District Collector of Visakhapatnam and other ministers from Russian government officials participated in the programme. Later, Russia Governor and delegates visited the special task zone at Jawaharlal Nehru Pharma City and participated in 70th anniversary of diplomatic relations between India and Russia in Metallurgical Works at Vizag Steel plant.