Industry & Economy
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Economy
APInvest set up
Our Bureau
The Chief Minister, Dr Y.S. Rajasekhara Reddy, announces the launch of AP Invest, a society formed by the Government, at the HITEX International Trade Centre in Hyderabad on Wednesday. The Society will be chaired by the Chief Minister. Dr J.C. Mohanti, Principal Secretary, IT&C, and Dr C.S. Rao, Chief Executive Officer, AP Invest, are also seen. - A. Roy Chowdhury
Hyderabad
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Jan. 12
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, on Wednesday announced the formation of APInvest, a nodal agency designed to aid in all-round development of the State while attracting investments and providing a single window interface to investors.
After inaugurating the three-day Gitex here on Wednesday, Dr Reddy said his Government was keen to market and attract investments into the State through a lean and fit organisation, which he called APInvest.
While the Chief Minister would be its chairman, supported by a steering committee of a group of ministers and industry representatives, the IT Advisor, Dr C.S. Rao, has been appointed the Chief Executive Officer of APInvest.
The agency's immediate mandate would be to address areas such as IT/ITeS and agriculture and horticulture. Teams to pursue investments have already been put in place, he said.
Elaborating APInvest's features, Dr Reddy said initially it would promote investments in food processing, tourism, retail and real estate sectors, apart from IT and ITeS.
While facilitating single window clearance for potential investors, this would also serve as a single point interface and provide continuous post-investment services.
In other words, APInvest will also act as an investment ombudsman in respect of existing procedures and processes.
The Gitex Hyderabad, organised by the Dubai World Trade Centre and the IT and Communications Department, Government of Andhra Pradesh, hosting the Computer Shopper, was inaugurated on Wednesday.
Gitex is being projected as a business-to-business networking interface for the technology sector.
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