Hyderabad: Andhra Pradesh chief minister YS Jagan Mohan Reddy announced the constitution of a high-power committee to follow up the implementation of the memorandums of understanding (MoUs) signed at the two-day Global Investors’ Summit (GIS) that concluded at Visakhapatnam on Saturday.
Chief secretary KS Jawahar Reddy will lead the committee, also comprising special chief secretary (industries) R Karikal Valaven and senior officials of the chief minister’s office. The panel will track the investment proposals and ensure that the projects are grounded on a fast-track mode.
“The investment proposals are an indication to the faith reposed by the investors in the state government and its pro-industry policies,” the chief minister said in his concluding remarks at the summit.
He requested the investors to move from the MoU stage to the grounding of their investments in Andhra Pradesh at the earliest. “We assure you that our government expedites the facilitation of your businesses taking the matters forward,” he added.
During the two-day summit, the state government has executed 352 MoUs with an investment commitment of over ₹13 lakh crore and employment potential of over six lakh (600,000), he said.
“In the energy sector alone, 40 MoUs worth ₹8.84 lakh crore have been signed to create 1.90 lakh (190,000) jobs. In the information technology and IT-enabled sector, 56 MoUs were signed for an investment of ₹25,587 crore and will generate employment for 1.04 lakh (104,000) people,” he said. “In the tourism sector, 117 MoUs have been signed for an investment to the tune of ₹22,096 crore to generate employment for 30,787 people.”
Significant investments were committed in the renewable energy sector, particularly in pumped storage and production of green hydrogen and green ammonia, aimed at creating carbon-free emissions, Reddy added.
On the occasion, the chief minister remotely inaugurated 14 industrial facilities spread over Sri City, Pydibhimavaram, Tirupati and AP Special Economic Zone, Atchutapuram. These units have been set up with an investment of ₹3,841 crore and will be providing employment to 9,108 workers.
During this summit, 15 sector sessions were organised with over 100 speakers showcasing the state’s growing strengths. These 15 focus sectors include automobile and electric vehicle, health care and medical equipment, renewable energy, green hydrogen, green ammonia, agri-processing and tourism.
Besides, four country sessions with the UAE, Netherlands, Vietnam and Australia were also organised for exploring opportunities for collaboration with Andhra Pradesh.
Union minister for shipping Sarbananda Sonowal said Prime Minister Narendra Modi in true letter and spirit of cooperative federalism is committed to extend “wholehearted support” to Andhra Pradesh to accelerate growth. Sonowal, who attended the second-day of the summit, said the Union government under its Sagarmala initiative has sanctioned modernisation of Visakhapatnam fishing harbour at a cost of ₹150 crore.
Union minister for tourism G Kishan Reddy said Andhra Pradesh has a “bright future” in pharma, tourism, petrochemical, engineering goods and seafood sectors.
