Metro India News | AMARAVATI

The thirteenth State Investment Promotion Board led by  Chief Minister N Chandrababu Naidu approved investments to a tune of Rs 20,444 crore  providing employment opportunity to 56,278 youth.

Speaking on the occasion, the Chief Minister directed the officials to see that the projects grounded within 45 days after signing MoU. He said Andhra Pradesh has been attracting investments n a big way with the introduction of speed of doing business  and maintaining transparency in giving permissions. He said Rs 7.69 crore worth MoUs signed during Visakha CII partnership summit were going to be grounded. He said foundations should be laid for 75 MSME parks before Davos tour. There should not be any litigation in land allotments.

The Chief Minister advised the officials to improve their performance using technology in grounding of units and industries in prescribed time. He said of the six quantum towers two twoers should be allotted to artificial intelligence. He said a master plan should be formulated to develop convention centres and hotels in Visakhapatnam to promote tourism.

The Chief MInister stressed the need for establishing sovereign fund  to invest in various sectors. Andhra Pradesh also should establish a sovereign fund with Rs 500 crore. He said nine distsricts in Rayalaseema will be developed as horticulture hub  and the central government is providing Rs 40,000 crore towards Purvodaya secheme . Minister Nara Lokesh said that speed of doing business should be implemented efficiently and permissions should be gven only after checking the credentials of companies. Ministers TG Bharat, P Narayana, Kandula Durgesh, Gottipati Ravikumar, Anagani Satyaprasad, BC Janardhan Reddy, Payyavula Kesav and K Atchannaidu were present.