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Andhra Pradesh's outreach programme to attract investments

Ch R S Sarma Vijayawada | Updated on August 08, 2019 Published on August 08, 2019

YS Jaganmohan Reddy, Chief Minister, Andhra Pradesh   -  CH_VIJAYA BHASKAR

The state will also seeks the assistance of organisations like the CII, the FICCI and other bodies to promote investment in different sectors

The Andhra Pradesh Government is conducting a "diplomatic outreach programme" with delegates from 35 countries here on Friday. The programme aims to make the countries aware of the state’s potential for investments in various sectors.

The event, being conducted in association with the Union Ministry of External Affairs, will explore opportunities for investment and collaboration in sectors such as pharma, agriculture, automobiles, textiles and food processing.

Chief Minister Y S Jaganmohan Reddy will be the chief guest at the event. He will interact with the delegates personally also. State Finance and Industries Ministers and officials will participate.

It is expected that the USA, UK, Japan, Australia and other countries may send their delegates. The stage plans to set up investment promotion offices and investor desks in the major cities of the country and some of the foreign capitals. It also hopes to facilitate interaction with the entrepreneurs there.

The state will also seeks the assistance of organisations like the CII, the FICCI and other bodies to promote investment in different sectors.

It may be recalled that the previous Telugu Desam (TDP) government had conducted three partnership summits in association with the CII in Visakhapatnam during its 5-year tenure. It had signed MoUs with various companies in the country and abroad for starting ventures in the state, entailing investments to the extent of several crores of rupees. Some of them have been grounded, but many of them are still in various stages of execution. The future of these projects hangs in balance. The new government is reversing most of the decisions taken by the previous government, alleging large-scale corruption in the deals.

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Published on August 08, 2019
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