VIJAYAWADA : The 13th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu at the State Secretariat on Thursday, approved investment proposals to the tune of Rs 20,444 crore to generate employment for 56,278 people.
A total of Rs 8.29 lakh crore investment proposals with a potential to generate 7.62 lakh jobs have come up before the SIPB so far. Six companies that signed agreements at the CII Partnership Summit in Visakhapatnam have got approvals.
Speaking on the occasion, the Chief Minister said more than 50% of MoUs signed at the Partnership Summit have already moved to the approval stage, and directed officials to ensure that foundation stones for these projects are laid within 45 days.
“Leading companies are choosing Andhra Pradesh for investments because of the government’s speed of doing business. We are providing water, electricity, land, and all necessary support. Transparency is bringing new projects to the State,” he said.
Launch 75 MSME parks before WEF meet: CM
Earlier disruptions had damaged investor confidence. “We have rebuilt AP’s image, which is why the recent summit received such a tremendous response,” he said.
Naidu mentioned that within just 20 days after the Partnership Summit, agreements worth Rs 7.69 lakh crore have already moved to implementation stage. Land allotment for the projects has begun. “We should lay the foundation stones for 75 MSME parks in the State before the upcoming World Economic Forum Summit in Davos.
The Chief Secretary should review MoUs grounding every week. District Collectors should also monitor progress. Prepare a policy for grounding industries, and place it before the Cabinet.
A monitoring mechanism should include the Chief Minister, Cabinet Sub-Committee, Chief Secretary, ministers, and senior officials. Land acquisition should be smooth, and both those giving land, and those receiving it should be satisfied,” he said.
He further directed the establishment of a Logistics University, Civil Aviation University, and Green Energy University. An advisory body for Quantum Valley will handle mentoring, monitoring, and venture capital, while the Ratan Tata Innovation Hub will mentor startups.
He also proposed that six towers of Quantum Valley be strategically allocated, with two dedicated to quantum algorithms, two to artificial intelligence, and the remaining two to other emerging technologies, ensuring a balanced focus on innovation and research. He further instructed that AI basics be taught from class 7 onwards, with a team formed in collaboration with Microsoft and Google.
The Chief Minister emphasised the creation of a holistic ecosystem for industries, and emerging technologies to thrive within the State, with a focus on end-to-end solutions. He highlighted that technologies and their use cases must reach every household, ensuring that innovation translates into tangible benefits for citizens across Andhra Pradesh.
The CM also highlighted the need to promote tourism in a big way. He directed officials to attract national and international organisations to the hospitality sector. Fifty acres have been allotted in Visakhapatnam’s Kapuluppada for hotels, and convention centres, and a master plan will be prepared soon. I
The Chief Minister said public sector companies should invest across sectors, similar to sovereign funds in the UAE and Dubai. He ordered the creation of a Rs 500 crore sovereign fund for Andhra Pradesh.
