Andhra Pradesh has reaped a rich harvest of Memorandums of Understanding (MOUs) at the three-day Partnership Summit organised jointly with the Confederation of Indian Industry. With the successful summit, Naidu seems to have regained it old magic of attracting new projects and big ticket investments to his State.
By the end of the second day itself a total of 313 MOUs involving with an investment outlay of `3.88 lakh crores were signed during the two-day event at the port city of Visakhapatnam. Officials say that it will generate 750,456 jobs in the State.
Chief Minister Naidu speaking on the last day of the event on Tuesday exuded confidence that Partnership Summit will yield an investment of `5 lakh crore and job opportunities potential to more than 8 lakh.
“We are second in ease of doing business. We will soon become 1st”, Naidu promised the delegates. He pointed out that AP was the first state in the country to have a separate retail policy and has a potential to become retail hub.
The event chaired by Chief Minister N Chandrababu Naidu and attended by the Union Ministers Arun Jaitely, M Venkaiah Naidu, Jayant Sinha and captains of Industry, was the first of its kind since the bifurcation of Andhra Pradesh. With representatives from 16 countries also in attendance the state used the summit to showcase the opportunities as well as its initiatives aimed at creating a business friendly atmosphere in the State.
Most of the MOUs were in the sectors of heavy industry, food processing, mining and the information technology. Organized Retail sector was also in the focus at the event with the State Government unveiling its Retail Policy. Four organized retail giants Walmart, Future Group, Spencer’s and Arvind lifestyle also signed up MOUs with an investment outlay of `1500 crore.
Walmart India has announced its plans to open 15 more stores in the State in addition to the existing three stores.
The company also plans to set up a center for sourcing agriculture products from the small and marginal farmers.
During his earlier stint as the Chief Minister of united Andhra Pradesh Naidu had effectively used the partnership with the CII to hold such conclaves to put Hyderabad on the global map and attract a lots of investments to the State.
Praising fresh efforts of the Chief Minister for the development of the state, Union Minister for Urban Development M Venkaiah Naidu described Chandrababu Naidu as the Brand Ambassador of his own State.
Speaking on the last day of the summit State Finance Minister Y Ramakrisnudu said that developed China was the source of inspiration and a role model for the state. He urged the industry to come forward and help the state in development of technological skills of youth.