Investors' meet to showcase AP's potential: Min

Vijayawada: The Global Investors' Summit (GIS) being held in Visakhapatnam on March 3 and 4 in association with Confederation of Indian Industry (CII) will showcase the investment potential in port-led development, seafood and agriculture processing, e-mobility, logistics and other thrust areas in Andhra Pradesh, Industries and Commerce Minister Gudivada Amarnath said on Tuesday.

He told the media at Tadepalli after the logo of GIS was unveiled by Chief Minister YS Jagan Mohan Reddy that as a prelude to the mega event, they will organise roadshows in important cities of India and in parts of the United States, United Kingdom, South Korea, Taiwan and other countries and regional conventions to woo investors.

Amarnath said such conferences could not be organised in the past due to Covid-19 pandemic which continued for over two years. Of late, various States are taking the initiative to hold investors' summits.

He clarified that unlike the erstwhile TDP government, which claimed MoUs envisaging investment of over Rs 16 lakh crore, Chief Minister Jagan Mohan Reddy is keen on signing MoUs with only those genuinely interested to invest after a thorough background check.

The Minister said during the World Economic Forum summit at Davos, they signed agreements worth Rs 1.25 lakh crore for investment in renewable energy and so far they had realised projects worth Rs 40,000 crore. He said they successfully bagged the Bulk Drug Park project at Kakinada SEZ. The project is expected to attract an investment of Rs 40,000 crore with direct employment for 25,000.

Earlier, the Chief Minister unveiled the logo for GIS in the presence of Amarnath, Special CS (Industries) R Karikal Valaven, AP Maritime Board CEO S Shan Mohan, chairman K Venkata Reddy, APMSME chairman Vanka Ravindranath, APTPC chairman K Ravichandra Reddy, Advisor (Industries) Lanka Sridhar, APIDC chairperson B Punya Seela, CII AP chairman Neeraj Sarda, AP IDC Directors and other officials.