AP: GIS 2023 concludes 352 MoUs for Rs 13 lakh cr investment

Two-day Global Investor Summit 2023 organised by AP government concludes with 340 investment proposals worth Rs 13 lakh crore from Indian and global companies

Visakhapatnam: The two-day Global Investor Summit 2023 organised by the Andhra Pradesh government received an enthusiastic response from the industry with 340 investment proposals worth Rs 13 lakh crore from Indian and global companies.

Chief Minister YS Jaganmohan Reddy in his concluding remarks on Saturday said that commensurate with the overwhelmingly positive business sentiment, 352 MOUs were executed 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 were signed worth Rs 8,84,823 crore that will create employment for 1,90,268 persons and in the IT and ITES sector, 56 MoUs are inked amounting to Rs 25,587 crore investment and jobs for 1,04,442 persons, he disclosed. In the Tourism Sector, 117 MoUs for an investment of Rs 22,096 crore and jobs 30,787 persons, were signed, he said.

Jagan also inaugurated 14 industrial facilities through virtual mode on Saturday and the units were 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 AP’s growing strengths. These include Automobile & EV sector, Healthcare & Medical Equipment, Renewable Energy, Green Hydrogen, Green Ammonia, Agri Processing and Tourism. In addition to this, four country sessions with the UAE, the Netherlands, Vietnam, and Australia were organised for exploring opportunities for collaboration with Andhra Pradesh.

The Chief Minister assured the delegates that the phenomenal optimism witnessed during the two-day summit would encourage the state government to redouble its 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. I assure you all that our government will demonstrate our “speed of facilitating businesses” taking matters forward,” he stated while thanking the delegates.