AP govt concludes 2-day Global Investors Summit

The CM said the state government had formed a monitoring committee to ensure that the MoUs, worth Rs 13 lakh crore, result in the starting of units. Energy, including renewables, attracted the highest investment followed by IT and ITES, Tourism, Pharma and healthcare, and manufacturing, among others.

Reddy said, “commensurate with the overwhelmingly positive business sentiment, we have executed 352 MOUs with an investment commitment of over Rs 13,05,663 crore and employment potential of over 6,03,223 persons. In the Energy Sector alone, 40 MoUs have been signed worth Rs 8,84,823 crore of Investment that will create employment for 1,90,268 persons. In the IT &ITES Sector, 56 MoUs are signed amounting to Rs 25,587 crore of Investment and will generate employment for 1,04,442 persons. In the Tourism Sector, 117 MoUs have been signed for an investment to the tune of Rs 22,096 crore that will create employment for 30,787 persons. I wish to point out that one of the sectors into which significant investments were committed is the renewable energy sector. These proposed investments into renewable energy generation pumped storage and production of green hydrogen and green ammonia, would go a long way in mitigating the intermittency associated with renewable energy and render it a credible alternative to fossil fuel-based generation. This would make a significant contribution in green energy space to Indias commitment towards achieving net zero,’’ he said.

The CM remotely inaugurated 14 industrial facilities on Saturday amidst the global investors summit. These units have been set up with an investment of Rs 3,841 crore and will be providing employment to 9,108 workers.

During this summit, 15 sector sessions were organised with over 100 speakers showcasing APs growing strengths. These 15 focus sectors include Automobile and EV sector, Healthcare and Medical Equipment, Renewable Energy, Green Hydrogen, Green Ammonia, Agri Processing Tourism, and so forth. In addition to this 4 Country Sessions with UAE, Netherlands, Vietnam, and Australia were organised for exploring opportunities for collaboration with Andhra Pradesh.

The CM assured the delegates that the phenomenal optimism witnessed during the two-day summit would encourage the state government to redouble the efforts in making the business environment in the State more conducive and more welcoming. “I sincerely request all of you to move from the MoU stage to the grounding of your investments in Andhra Pradesh at the earliest. Assuring you all that our government will demonstrate our speed of facilitating businesses taking matters forward,’’ said Chief Minister while thanking the delegates.