AP signs 665 MoUs for Rs 10.54 lakh cr investments at Partnership Summit

Dara Gopi

Amaravati: The Andhra Pradesh Government has signed 665 MoUs involving investments worth Rs 10,54,590 crores at the just concluded two-day partnership meet at Visakhapatnam. It had seen representatives coming from 50 nations who participated in the deliberations. The MoUs are expected to generate 23,34,096 jobs in the State.

While expressing satisfaction over the outcome of the conclave, Chief Minister N Chandrababu Naidu asserted that his target was to mobilise Rs100 lakh crores and replicate the Davos’ World Economic Forum in the State.

Governor ESL Narasimhan who attended the concluding session of the meet sought to advise the Chief Minister to relax for awhile as he could make the Partnership Summit a grand success and had attracted national and global investments to the new State. The Governor said that the State that had started on a revenue deficit note is now ahead of the rest of the States in the country in Ease of Doing Business and mobilising investments under the leadership of Chandrababu Naidu.

Union Finance Minister Arun Jaitely who inaugurated the summit welcomed the Chief Minister’s investment initiatives and said that investments in AP would mean investments in India. He termed AP as the gateway of South East Asian countries and expressed confidence that the State would be a home town for global investors. He also extended special support to the State from the Central government.

Union Minister for Transport Nitin Gadkari promised Rs 1 lakh crore funds for road network in the State, particularly linking the new capital, Amaravati. He had also promised Rs 20,000 crores for the two coastal economic zones.

The two-day summit had seen greater investment in the food processing sector that had registered the highest number of 177 MoUs, while the Economic Development Council had seen highest volume of Rs 362,662- crore investment proposals. The food processing industry had received investment proposals for Rs 6,055 crores, while the industries department with 91 MoUs had received investment proposals worth Rs 201,471 crores. The AP Capital Region Development Authority, which is responsible for building the new capital, Amaravati, had singed 62 MoUs with Rs 124,532 crores.

The State government had succeeded in projecting the deliberations of the summit despite the disturbances from a cross-section of the people, particularly the youth and the Opposition parties over the Special Category Status (SCS) that was promised to the State at the time of bifurcation. Interestingly, the Chief Minister had used the venue to make it clear that the SCS is of no use now and sought to advise the youth to keep off from the provocative statements about it by self-interested leaders. He also tried to give his version of the media coverage for the SCS demand and said that he would explain to the people shortly the intentions of the people and media projecting issues with selfish motives.

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