VIJAYAWADA: Chief Minister Y.S. Jagan Mohan Reddy on Tuesday unveiled the logo for the Global Investors’ Summit 2023, scheduled to be held on upcoming March 3 and 4 in Visakhapatnam.
Minister for industries, investment and commerce Gudivada Amarnath said the event will facilitate investments for the state and with the development of Vizag and Kakinada ports gaining momentum, the government will also take up port works at Machilipatnam and Bhavanapadu to promote trade.
Amarnath said, “Visakhapatnam and Kakinada Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) corridors are the biggest corridors in the country and we are focused on developing them further. Multiple ports and fishing harbours in the state would be completed soon. CM Jagan has set a deadline of December 2023 for completing the Ramayapatnam port. Also, Bhavanapadu and Bandar (Machilipatnam) port works have been fast-tracked. The state government is working dedicatedly to bring in more industries and companies into the state.”
He said that the state government is focused on giving a thrust to major sectors of agri-food processing, marine projects, defence, EVs, etc.
“The state is comprehensively focussing on reviving all sectors post the Covid pandemic. Over Rs 1,25,000 crore worth of MoUs in investments were signed at the World Economic Forum conference in Davos earlier this year,” the minister said.
Amarnath said that the government is also exploring possible ways to utilise its resources to attract investments.
“While many states requested a bulk drug park, only three states got it. Andhra Pradesh is one of them. Because of this, we got Rs 40,000 crore investments and this will create as many as 35,000 jobs directly and indirectly,” he said.
Elaborating on the state government’s efforts, Amarnath said, “The Chief Minister has directed officials to figure out efficient techniques to help MSMEs in the state prosper across the globe. Considering the state's capability, the CM directed officials to learn best practices in agriculture sector from Israel, in electronics sector from Taiwan and South Korea, and MSME techniques from Europe and United Kingdom.”
He said that roadshows will be organised in USA, UK, Germany, Israel, Taiwan, South Korea and other countries to promote the summit.
Amarnath said that while Jagan Mohan Reddy remains the brand ambassador for the state, those currently running successful industries will be the ambassadors for the summit.
The minister said that investor summits were not held for a majority of the past three years due to the Covid-19 pandemic, following which states are now rushing to organise such events. He cited investors’ summits in Bengaluru from November 2-4 and similar events in Odisha, Punjab and Uttar Pradesh.
Special chief secretary R. Karikal Valaven, maritime board CEO S.E. Shanmohan, APMSME chairman Vanka Ravindranath, AP maritime board chairman Kayala Venkata Reddy, APTPC chairman K. Ravichandra Reddy and industries advisor L. Sridhar were present at the logo launch event.
