AP has turned into attractive destination for investors: Guv Abdul Nazeer

Vijayawada: Andhra Pradesh Governor Justice S Abdul Nazeer on Friday said proactive policies have made the State into an attractive destination for investors in various industries. Giving details on various welfare activities undertaken by the YSRCP government at the official 75th Republic Day parade here attended by Chief Minister YS Jagan Mohan Reddy, his wife YS Bharati and several other judges, Ministers and bureaucrats, the Governor unfurled the national flag and expressed satisfaction over the developmental activities undertaken during the past four and half years.

He said with abundant resources and immense opportunities, AP has become an attractive destination for industrialists."Implementing a single-window policy, we have been granting all necessary approvals within 21 days of application. This has led to a significant influx of investors into the State."

He said in the last 56 months, over 311 large and mega industries have been established, providing employment to more than 1.30 lakh people. In the Global Investors' Summit (GIS) in March last, AP secured 386 agreements worth Rs 13.11 lakh crore, which will create job opportunities for an additional 6.07 lakh individuals. "Our State has joined the ranks of those with the highest GSDP growth rates in the country. Consistently ranked No. 1 in Ease of Doing Business for three consecutive years, we have also received numerous prestigious awards. Massive industrial growth is not only bringing investment but also enhancing the standard of living for the local youth. Additionally, the establishment of 54 clusters has spurred MSMEs, attracting investments of about Rs 30,000 crore and establishing approximately 3.94 lakh new MSME units."

The Restart Package of Rs 2,087 crore has provided significant incentives for MSMEs.