AP still the best investment destination: CM

Hyderabad, Jan 8 (INN): Chief Minister N Kiran Kumar Reddy on Sunday claimed that Andhra Pradesh would prove to be an investment magnet of the country during the Global Partnership Summit to be held in the city from next week.

The Chief Minister said that Andhra Pradesh continues to enjoy the top position in best investment destinations in the country due to the pro-active policies of the State Government.

He believes that while the government has a role to play in the creation of jobs, it is only the private sector that could create the jobs needed for the growing unemployment populace.

He said the government's principal role in industrial promotion would be of a facilitator to make good investment climate in the State.

The Chief Minister's Office has claimed that the industry has extended its whole-hearted support to the Chief Minister's goal of creating 1.5 million jobs by the year 2015, under the Rajiv Yuva Kiranalu (RYK) employment generation scheme.

Industry leaders have promised to absorb unemployed youth in their units after appropriate training in skills development.

Expressing concern over the unavailability of unskilled manpower in the State, Kiran Kumar Reddy said that abundant number of engineering and other unemployed graduates could get accommodated in the Information Technology and other sectors if they upgrade their skills.

He assured the industry that his government would invest in skill up-gradation and training the youth so they become immediately employable with the needed skills.

The Chief Minister said that recently in just one day the State Investment Promotion Board (SIPB) has cleared 30 investment proposals worth Rs 76,552.44 crores with an employment potential of 71,908.

The proposals cover automobile, textiles, chemical and petro chemical, food-based industries, glass industries, mechanical-based industries, metallurgical industries and mineral-based industries.

The Industries Department has already released the names of the Industries and where it is being established with investments and the employment potential.

Regarding the Partnership Summit, the Chief Minister said that as many 140 investment proposals have been received so far with an investment of Rs 3.14 lakh crore which are expected to create an employment potential of 2,49,219.

The proposals cover mega projects, non-mega projects, public sector undertakings and categories include power projects, IT projects, infrastructure projects and tourism projects.

Ministerial and Business delegations from countries like Abu Dhabi, Afghanistan, Bangladesh, China, Czech Republic, Israel, Italy, Kuwait, Mali, Malaysia, Nigeria, New Zealand, Pakistan, Russia, Saudi Arabia, Sri Lanka, South Africa, Turkey, Uganda, Ukraine, United Kingdom, United Arab Emirates, United States of America, Vietnam, Zambia, Zimbabwe will participate in the summit.

Besides, delegations from other States in the country will also participate in the Summit. Union Ministers and top industrialists of the country will also take part.

The theme of the Summit is "New Age Innovation Partnerships" which will be held from January 11th to 13th.