Rs.45,000 Crore in Investments From Singapore to Boost AP's Economy
Nara Lokesh, who ended a four-day visit to Singapore and returned here, noted that various Singapore companies have made commitments to invest in the state.
Vijayawada: Education and IT minister Nara Lokesh said on Thursday that the Government Investment Corporation (GIC) of Singapore has agreed to funnel Rs.45,000 crore into Andhra Pradesh over the next five years.
This investment is expected to provide a boost to the state’s economy and create numerous job opportunities for the youth, the minister told the media here.
He said, “This agreement represents a historic achievement. More investments came into AP in the past 14 months than what came here during the past decade. This is not only good news for the youth of Andhra Pradesh but it also signifies a setback for the Opposition leader, Y.S. Jagan Mohan Reddy.”
The minister, who ended a four-day visit to Singapore and returned here, noted that various Singapore companies have made commitments to invest in the state.
“The primary objective of our Singapore visit was to rectify previous misunderstandings and revive the agreements that had not been honoured by the previous government here. Unilateral cancellations of agreements by Jagan Mohan Reddy’s administration had driven away many Singaporean companies,” he said.
Lokesh cited Singapore’s reputation as a leading nation in matters of transparency in governance and condemned previous years’ attempts to tarnish that image. “Discussions were held with various officials, including Singapore’s President, Tharman Shanmugaratnam, and various ministers, including minister Tan See Leng,” he said.
He said, “Over the course of four days, the Chief Minister participated in 26 meetings, while I was involved in 35 events, including discussions with industrialists from sectors such as petrochemicals, IT, electronics and green energy.”
The minister criticised attempts by individuals, including one Murali Krishna, who allegedly sent emails to Singaporean officials claiming political instability in the state, to “deter investments.” Lokesh accused this individual of having ties to the Opposition.
Reaffirming the government’s focus on job creation, Lokesh said land would be provided to companies that offer employment to the youth. This strategy, he said, is central to the state’s investment policy.
Looking ahead, the minister revealed plans for TCS to commence activities in Visakhapatnam by September and Cognizant to do so in October.
Lokesh also responded to the allegations of Telangana leaders on the Banakacherla project. He said, “We have never obstructed the Kaleshwaram project. What is wrong if we lift and use the surplus water that goes into the sea? Why is it a problem for them if the surplus water is taken to Rayalaseema? For that matter, how was Kaleshwaram built without the approval of the Regulatory Committee?”
“Have we ever obstructed investments in Telangana? The Banakacherla project was proposed on AP territory. Are we taking Telangana water? River linking is essential. We are not robbing anyone’s water. We will work with Telangana for the interests of the Telugu people,” Lokesh stressed.
