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Andhra Pradesh CM urges global investors to invest in State

Ch R S Sarma Vijayawada | Updated on August 09, 2019 Published on August 09, 2019

Jaganmohan Reddy, Chief Minister, Andhra Pradesh   -  PTI

Asks investors to give 75 per cent of jobs to locals

Andhra Pradesh Chief Minister YS Jaganmohan Reddy has invited global investors to invest in the State. He has asked them to not only use the opportunities available, but also give 75 per cent jobs to the locals in accordance with the GO issued recently by his government.

He extended the invitation at the "diplomatic outreach programme" organised by the State industries department here on Friday in association with the Union External Affairs Ministry. Forty ambassadors, diplomats from 35 countries attended the programme inaugurated by the CM.

In his inaugural address, the Chief Minister said, “The state government had taken "two somewhat controversial decisions - one regarding the GO reserving 75 per cent jobs to locals in industries in the State and the other reviewing power purchase agreements (PPAs) signed by the previous government. What you find in the media is a one-sided version, I shall now explain the rationale to you to reassure you regarding our intent."

“If you find it difficult to find the right kind of local people, please tell us before us beforehand. Let us know the skill sets you require and we will take up the required skill development and provide you with skilled workforce. We will set up a skill development centre in each Lok Sabha constituency. For highly technical jobs, you can accommodate outsiders in the rest of 25 per cent," he added.

Scrapping PPAs

Regarding the decision to review PPAs, he said it had become unavoidable, as the power distribution companies (discoms) had piled up arrears to the extent of Rs 20,000 crores and the model had become unsustainable. "It had become necessary to take the step and I know some of the global companies are in the contracts. It would not be possible to bring down the power purchase rates without such a step and we cannot provide power to the common consumer or the industry at reasonable rates. That is why we scrapped the PPAs but we will adopt a completely transparent policy framework and procedure in re-tendering and you can all participate."

Then the Chief Minister went on to speak about the long coast line of the State, its strengths in agriculture and aquaculture and the need for increasing productivity. "We have four functioning ports and six airports and we will add four more ports. We have a long coast line. Bring good agricultural practices to the State and help us in upgrading our products to global standards," he told the delegates.

Though the State did not boast of a big city like Hyderabad or Bengaluru, he said, all efforts were being made to upgrade the urban infrastructure in the existing towns. "We are planning metros in Vijayawada and Visakhapatnam, the two main cities, and will take all steps to improve infrastructure. We solicit your help in the endeavour. At present, we are lagging behind on the front and we are a poor state."

He spoke briefly about Nava ratnalu - the welfare schemes introduced by his Government - and the massive mandate the people of the State had given his party. "I promise political stability, good, corruption-free governance. You will not encounter any hassles. I promise you a win-win policy and you please become partners in the State's progress," he stated.

Later, presentations were given by State Industries Minister M Rajamohana Reddy and the Industries secretary on the potential of the State and the opportunities available.

Published on August 09, 2019
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