MoUs inked at CII Partnership Summit exceed expectations 613 projects to bring an investment of Rs.13.25 lakh crore across AP

The two-day 30th edition of CII Partnership Summit turned into a phenomenal success with the investments attracted surpassing the State Government's target.

Following hectic efforts made by AP Economic Development Board (APEDB) and Industries Department with the support of the Centre, the summit saw signing of 613 MoUs envisaging an investment of Rs.13.25 lakh crore across the State in multiple areas.

The original target was to sign 410 MoUs with a total investment of Rs.9.8 lakh crore, according to IT, Electronics and HRD Minister Nara Lokesh who gave credit to their emphasis on Speed of Doing Business for such spectacular response from the global investors.

Chief Minister N. Chandrababu Naidu said the summit was a super hit with participation of over 4,975 industrialists including 640 International delegates. He said 41 business sessions were organized with 91 speakers. Sixteen business meetings were organized from eight countrie. He said that the 613 MoUs signed at the summit will provide employment opportunity to 16.31 lakh youth. During the past 17 months, the State attracted investments of over Rs 20 lakh crore.

The Chief Minister said the summit was not confined to attracting investments. "We adopted 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.

The Chief Minister said in addition to the available incentives the State Government decided to open Escrow accounts and provide sovereign guarantee to those who come forward to invest.

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 transform into an AI hub with setting up of data centers Google and big companies.