Vizag partnership summit attracted investments of Rs 13.25 lakh crore: CM Chandrababu Naidu

Visakhapatnam: Chief Minister N Chandrababu Naidu said that the two day Visakhapatnam CII partnership summit is a 'super hit' and attracted investments to a tune of Rs 13.25 lakh crore with 613 MoUs providing employment opportunity to 16.31 lakh youth and during the 17 months the state government attracted investments of more than Rs 20 lakh crore.

Talking to reporters on Saturday he said that over 4,975 industrialists including 640 International delegates participated in the two day programme. He said 41 business sessions were organized with 91 speakers and 16 business meetings were organized with eight countries and he participated in 24 bilateral meetings.

Naidu said the summit was not confined to attracting investments and it is organized in a hybrid model with knowledge sharing sessions and discussions on global industrial scenario. In addition 450 students were selected to participate in the summit to develop them as prospective entrepreneurs. He said Ratan Tata Innovation Hub is serving as a platform for prospective entrepreneurs.

He said MSME parks will be set up in all 175 constituencies to promote entrepreneurs. In addition common infrastructure and marketing facilities will be provided to promote industrialisation. Citing the example of Sri city, the Chief Minister said that 240 units were present in Sri city with participation of 31 countries and the participation of countries should be increased to fifty. He said all departments attracted investments with the initiation of both the ministers and officers. He said during the past 17 months the government is able to instill confidence among investors and as a result the state attracted huge investments due to speed of business being adopted by the government.

The Chief Minister said in addition to the available incentives the state government decided to open Escrow accounts and provide sovereign guarantee those who come forward to invest in the state. He said under Super Six programme the state government assured to provide employment to 20 lakh youth and however able to attract investments to provide employment to 24 lakh youth. He said that the state government committed to decentralization of development and as part of it planning to develop logistics from East to West.

Rayalaseema will be developed as horticulture and industrial hub and Coastal Andhra will be developed as Aqua hub and Visakhapatnam region will be developed as AI hub with setting up of data centre.

The Chief Minister said that all the investments are serious investments and all these investments will be materialized in three years. The group of ministers will follow up the investment proposals continuously until the projects are grounded. He said efforts are on to provide necessary infrastructure for grounding of projects. The state government is able to win the confidence of investors including global investors, he added.