Andhra Pradesh govt. is keen on realising at least 89% of MoUs signed during investors meet in Vizag, says Minister

A panel led by the Chief Secretary and Principal Secretary (Industries) to monitor the implementation of the MoUs; Chief Minister to review the MoUs every month

The Andhra Pradesh government is keen on realising at least 89% of the MoUs signed during the Global Investors Summit organised in Visakhapatnam recently, IT and Industries Minister Gudivada Amarnath has said.

Speaking to the media here on March 6 (Monday), the Minister said that as many as 378 MoUs were signed during the two-day summit that concluded on March 4, ringing in an investment of about ₹13.41 lakh crore and potential employment for more than 6 lakh people.

“Chief Minister Y.S. Jagan Mohan Reddy is constituting a committee led by the Chief Secretary and Principal Secretary of the Industries Department, which will monitor the implementation of the MoUs closely. There will be weekly reviews. Chief Minister will also review the MoUs every month,” said Mr. Amarnath, adding that the industrialists who set up shop in the State within six months of singing the MoUs would be extended the ‘early bird’ offer.

Mr. Amarnath said that the success of the investors summit was ‘overwhelming’. “From a modest target of about ₹2 lakh crore of investment, it went beyond the ₹13 lakh crore mark in about 20 sectors,” he said.

Referring to the areas of the investments, the Minister said that it was too early to specify as discussions were in the nascent stage and the finer details were being worked out.

“However, Visakhapatnam will stand to gain in a big way as the industry captains of every almost sector have evinced interest in this district. We have received an investment of about ₹35,000 crore in the IT sector with an employment potential of about 1.2 lakh,” he said, adding that huge investment was coming in the renewable energy sector and that the Rayalaseema region would get the maximum number of solar plants.

The Minister said that Andhra Pradesh was successful in showcasing its strength to the investors and the industry captains expressed happiness over the conducive eco-system in the State.