Focus is on wooing investors in AI, data centres in Vizag: Lokesh

Visakhapatnam: Development of Visakhapatnam as a fintech capital with focus on attracting investments in artificial intelligence (AI) and data centres is on top of the agenda of the three-party coalition in the State, Minister for HRD, IT and Electronics Nara Lokesh said.

During an interactive meet with the captains from the IT and ITES here late in the evening on Thursday, he said the existing ecosystem was totally ignored and no initiative worth the name was taken by the erstwhile YSRCP government to strengthen it. He said all those investors, who left due to the policies followed by the YSRCP regime, will be contacted to invest in Andhra Pradesh due to proactive policies being implemented by the government led by Chief Minister N Chandrababu Naidu.

TDP MP from Visakhapatnam M Sribharat, TDP State president and Gajuwaka MLA Palla Srinivasa Rao, Secretary, IT, Electronics and Communication Sourav Gaur, IT Association of AP president Lakshmi Mukkavilli and others were present.

In his address to the CXOs and senior executives from the IT companies, Lokesh explained his vision of Visakhapatnam becoming a 100 billion dollar economy in the future and one of the top five cities in the country in terms of GDP. To achieve this goal, special focus will be placed on developing Visakhapatnam as an important IT hub, especially on AI and data centers, he said adding other aspects of Visakhapatnam, MSMEs and pharma sectors will also be developed on priority.

He assured that a strong local branch of Andhra Pradesh Economic Development Board will be set up in Visakhapatnam to attract industrial investments to act as a single point of contact for industrial investments.