CM YS Jagan Mohan Reddy's brand image got investments: AP Industries Minister

By Express News Service

VIJAYAWADA: Attributing the success of Global Investors Summit 2023 held at Visakhapatnam on March 3 and 4, to the brand image of Chief Minister YS Jagan Mohan Reddy, Minister for IT and Industries Gudivada Amarnath said a total of 386 MoUs with a proposed investment of Rs 13,11,468 crore were signed. The investment proposals will generate six lakh jobs in the State if they materialise, he informed. 

Initiating a short discussion on ‘Global Investors Summit –  Investments – Skill Development for Youth – Employment’ in the State Assembly on the fifth day of the ongoing budget session, Amarnath said investors have come to the State attracted by the credibility of the YSRC government, able governance and abundance of resources and availability of opportunities. 

“In the past, CII used to organise such investor summits, but for the first time, the State government took the initiative to host such event. Our Chief Minister was clear that focus should be on the sectors that can offer resources and opportunities and accordingly we laid emphasis on 14 key sectors,” he said and added that wider publicity was given to it by holding roadshows in major cities in the country.

“Ambassadors, High Commissioners and trade commissioners from 49 countries, besides industrialists meeting the Chief Minister in New Delhi during the run-up to the investors summit, has reflected the confidence they have in the State government and 22,000 registrations for the event has clearly highlighted the State’s attraction for the investors,” he said. 

Listing out various MoUs signed, proposed investments and the job potential, the minister said Foreign Direct Investments worth Rs 1,95,542 crore were proposed during the two-day summit. 

Advantages the State offers to industries like 974 km coast, second longest coast in the country, investor friendly government, skilled human resources, ease of doing business as attested by the fact that the State stood first in EoDB for three consecutive years, were showcased at the summit. 

Exports from the State too have increased, land bank has been created for commencement of industries in the three industrial corridors running through the State. “In the last three years, investments worth Rs 56,534 crore have been made in large and mega industries creating 73,286 jobs. More industries are being established with emphasis on MSME sector, which has a large potential to create jobs. In the last three-and-a-half years, 1.52 lakh MSME units have been set up drawing investments to the tune of Rs 20,000 crore and creating 13.63 lakh jobs,” he highlighted.

“The State is steadily emerging as the destination for green energy industries, given its geographical advantage and vision of the Chief Minister. Efforts are on to take advantage of the long coastline by setting up four more ports and nine fishing harbours. We will ensure the arrival of the first vessel to Ramayapatnam port by December this year. The Chief Minister will lay the foundation stone for Machilipatnam port in April,” he elaborated. 

The Industries Minister and the ruling YSRC MLAs lambasted the Opposition for its criticism of the government pertaining to industrialisation. They said the success of Global Investors Summit should be an eye opener to the Opposition TDP.