AP to sign 300 MoUs at Vizag Partnership Summit
Written by : SMTV24x7 | Mon, Feb 19, 2018, 05:24 PM
Visakhapatnam, Feb 19: The Andhra Pradesh Finance Minister Yanamala Ramakrishnudu said that the warning by the Left parties that they would stage protests against the CII's third Partnership Summit to be held here from February 24 to 26 would harm the interests of the State.
He said such protests would disturb the peaceful atmosphere in the State and no foreign investor would come to the State which would hit the development of the State.
The Finance Minister convened a review meeting on the arrangements for the International Partnership Summit here on Sunday. Later addressing the media, he said that the government would sign 300 MoUs with national and international companies and new investors during the summit which could bring in investments worth Rs 3.5 lakh crore.
Responding to the YSR Congress Party's allegation that the State government is wasting Rs 30-crore public money on the summit, the Minister said that over three lakh youth would get jobs once the State gets investments worth Rs 3.5 lakh crore. One lakh jobs are expected to be created in IT sector.
The government secured Rs 2,000 crore foreign investments from various nations, after spending just Rs 2 crore for foreign tours. The YSR Congress Party's allegations are baseless, the Finance Minister said. The officials are dedicatedly working to improve revenue generation. The income through agriculture sector has also been increasing, he added.
HRD Minister Ganta Srininvasa Rao said that investors and industrialists from Japan, Canada, Singapore, UAE, Sri Lanka and other countries are coming to the city to attend the summit. Besides, Ministers for Commerce from 14 nations and other delegates from 40 foreign countries are also attending the summit.
The State signed 879 MoUs to attract investments worth Rs 11,10,195 crore to create 22 lakh jobs during the last two partnership summits, Ganta pointed out.
Principal Secretary of Industries, Solmon Arokia Raj, and Collector Pravin Kumar explained about the arrangements for the summit.