Advantage AP: CM YS Jagan Assures Investors of Expediting Business Facilitation

Mar 04, 2023, 15:01 IST

Global as well as Indian business houses have recognised the competitive advantage of Andhra Pradesh in key sectors

Energy including renewables attracted the highest investment followed by IT and ITES, Tourism, Pharma and healthcare, and manufacturing among others.

The CM assured the delegates of continued monitoring and cooperation of the government to demonstrate the “speed of facilitating business”.

AP GIS 2023 | VISAKHAPATNAM: The Global Investor Summit 2023 organised by the Andhra Pradesh government received an enthusiastic response from the industry. The state received 340 investment proposals worth Rs13 lakh cr during the event from Indian and global companies.

In his concluding remark at the Global Investors Summit, Chief Minister YS Jagan Mohan Reddy conveyed, “Commensurate with the overwhelmingly positive business sentiment, we have executed 352 MOUs with an investment commitment of over Rs 13,05,663 crores and employment potential of over 6,03,223 persons. In the Energy Sector alone 40 MoUs have been signed worth Rs 8,84,823 Crs of Investment that will create employment for 1,90,268 persons. In the IT &ITES Sector, 56 MoUs are signed amounting to Rs 25,587 Cr of Investment and will generate employment for 1,04,442 persons. In the Tourism Sector, 117 MoUs have been signed for an investment to the tune of Rs 22,096 Crs that will create employment for 30,787 persons.”

#APGIS2023
Hon'ble Chief Minister Sri YS Jagan Mohan Reddy Garu addresses the gathering on Day 2 of the #APGlobalInvestorsSummit and highlighted the vast investments the event garnered.@AndhraPradeshCM @BugganaRaja @gudivadaamar @GummallaSrijana pic.twitter.com/ffSMjpJy6z

— Advantage AP Official (@Advantage_APGov) March 4, 2023

“I wish to point out that one of the sectors into which significant investments were committed is the renewable energy sector. These proposed investments into renewable energy generation pumped storage and production of green hydrogen and green ammonia, would go a long way in mitigating the intermittency associated with renewable energy and render it a credible alternative to fossil fuel-based generation. This would make a significant contribution in green energy space to India’s commitment towards achieving net zero” he added.

Chief Minister YS Jagan Mohan Reddy remotely inaugurated 14 industrial facilities today. These units have been set up with an investment of Rs3,841 crore and will be providing employment to 9,108 workers.

During this summit, 15 Sector Sessions were organised with over 100 speakers showcasing AP’s growing strengths. These 15 focus sectors include Automobile & EV sector, Healthcare & Medical Equipment, Renewable Energy, Green Hydrogen, Green Ammonia, Agri Processing Tourism, and so forth. In addition to this 4 Country Sessions with UAE, Netherlands, Vietnam, and Australia were organised for exploring opportunities for collaboration with Andhra Pradesh.

The CM assured the delegates that the phenomenal optimism witnessed during the two-day summit would encourage the state government to redouble its efforts in making the business environment in the State more conducive and more welcoming. “I sincerely request all of you to move from the MoU stage to the grounding of your investments in Andhra Pradesh at the earliest. Assuring you all that our government will demonstrate our “speed of facilitating businesses” taking matters forward,” said Chief Minister while thanking the delegates.

CM Jagan Concluding Speech at AP Global Investors Summit 2023 | Vizag