Andhra Pradesh CM woos investments from Singapore

News Posted - 2010-03-21

Andhra Pradesh Chief Minister K Rosaiah today impressed upon Singapore President Sellapan Rama nathan that the state was the best destination for making investments.

The Chief Minister called on the Singapore President at a star hotel in Shamshabad and told the latter that the atmosphere in Andhra Pradesh was conducive for massive investments in various sectors, a release from the Chief Minister's office here said.

''Andhra Pradesh provides the best infrastructure for investors with single window clearance and maximum incentives in the country.

The new industrial policy, which will ensure more attractive incentives is to be announced soon,'' he said.

Mr Rosaiah told the Singapore President that there were many sectors like IT, infrastructure and food processing where Singapore investors could invest.

''We are first among the best in many sectors. We also have lowest power tariff for industrial sector, abundant natural resources and vast skilled and unskilled human resources.'' Mr Rosaiah asked the Singapore investors and industrialists whom he described as world leaders in investments and most enterprising, ''not to miss the bus''.

Mr Nathan agreed in principle to import fruits and vegetables from Andhra Pradesh through societies in large scale.

Andhra Pradesh has the maximum number of Engineering Colleges and IITs producing skilled manpower, the Chief Minister said, adding AP is a leader in paper, cement, pharma and granite Industries, second in the country in Textiles, third in iron and fourth in steel production.

Other potential sectors were food processing, engineering industries and biotechnology besides emerging sectors like semiconductors, aerospace and precision tools.

The Singapore President assured the Chief Minister that he would convince the industrialists and investors of his country to invest in Andhra Pradesh and invited the Chief Minister to visit Singapore at an early convenient time.

The Singapore President told the Chief Minister that he was very happy to visit Andhra Pradesh, one of the fastest growing states in the country.

Source : 20/3/10