Companies getting approvals faster, said Babu

Visakhapatnam: Chief Minister N Chandrababu Naidu on Thursday said Andhra Pradesh won investors confidence with its speed of doing business. Several leading companies are coming forward to invest in the state, he said.

Addressing the 13th State Level Investment Board (SIPB) meeting held at the Secretariat on Thursday, the CM said more than 50 percent of the MoUs signed at the recent CII Partnership Summit held in Visakhapatnam are already moving into the approval stage. The chief minister directed officials to ensure that the foundation stones for these projects are laid within 45 days.

The SIPB meet chaired by the Child Minister approved investments worth Rs. 20,444 crore, with a potential for more than 56,000 jobs. Six companies that signed agreements at the Visakhapatnam investment summit also received approvals. The Chief Minister reviewed all agreements signed at the summit.

We are providing water, electricity, land, and all necessary support. Transparency is bringing new projects to the state. Earlier disruptions damaged investor confidence, even with countries like Singapore. We have rebuilt AP's image, which is why the recent summit received such a strong response, he said.

The Chief Minister said within just 20 days of the Visakhapatnam Partnership Conference, agreements worth Rs. 7.69 crore have already moved into implementation. Districts have been identified and land allocation has begun. He instructed officials to register the remaining MoUs quickly and ensure all projects are grounded within 45 days.

He added, 'We must lay the foundation stones for 75 MSME parks before the upcoming World Economic Forum Summit in Davos. The Chief Secretary should review MoU grounding every week. I will review SIPB decisions and MoUs personally. District collectors must also monitor progress. Prepare a policy for grounding industries and place it before the Cabinet. A monitoring mechanism should include the Chief Minister, Cabinet Sub-Committee, CS, ministers, and senior officials. Land acquisition must be smooth, and both those giving land and those receiving it should be satisfied,' he said.

The Chief Minister said all approved industries must be set up within the planned timelines and officials must monitor them regularly. He emphasised that AP is moving towards a knowledge-based economy and that government departments must strengthen their use of technology. He added that a highly skilled workforce is essential to drive innovation, and the youth must be trained to meet future needs.

He further directed the establishment of a Logistics University, Civil Aviation University, and Green Energy University. An advisory body for Quantum Valley will handle mentoring, monitoring, and venture capital, while the Ratan Tata Innovation Hub will mentor startups.

He also said the six towers of Quantum Valley be strategically allocated, with two dedicated to quantum algorithms, two to artificial intelligence, and the remaining two to other emerging technologies, ensuring a balanced focus on innovation and research. He further instructed that AI basics be taught from class 7 onward, with a team formed in collaboration with Microsoft and Google.

The Chief Minister emphasized the creation of holistic ecosystems for industries and emerging technologies to thrive within the state, with a focus on end-to-end solutions.

The Chief Minister also highlighted the need to promote tourism. He directed officials to attract national and international organizations to the hospitality sector. Fifty acres have been allocated in Visakhapatnam's Kapuluppada for hotels and convention centres, and a master plan will be prepared. Incentives should be tailored to project size, and the incentive disbursal system should use an escrow mechanism, he said.

The Chief Minister said public sector companies must invest across sectors, similar to sovereign funds in the UAE and Dubai. He directed the creation of a Rs. 500 crore sovereign fund for Andhra Pradesh and called for flexible policies to support early bird incentives.

He said nine districts will be developed as horticulture hubs. The Center is allocating Rs. 40,000 crore under the Purvodaya scheme, and AP must attract investments accordingly. Rail, road, air, and water connectivity should be improved to boost horticulture exports.

Speaking at the SIPB meeting, Minister Nara Lokesh said permissions should be granted only after thorough examination of each investing company, while ensuring no obstacles in setting up industries. He stressed strict implementation of the Speed of Doing Business policy so that approvals are issued quickly without wasting time for either the government or companies.

Ministers TG Bharat, P. Narayana, Kandula Durgesh, Gottipati Ravikumar, and Anagani Satya Prasad were present. Ministers BC Janardhan Reddy, Payyavula Keshav, and Atchannaidu attended virtually. Senior officials, including Chief Secretary Vijayanand, also participated.

A total of Rs. 8.29 lakh crore investments have been received through 13 SIPB meetings so far, generating a potential for over 7.62 lakh jobs.

The companies approved in the 13th SIPB meeting include:

* Chinta GreenEnergy Limited Rs. 8500 crores 5800 jobs
* Ganeco Three Energy Rs. 2140 crores 1000 jobs
* Shreshtha Renewables Rs. 70 crores 339 jobs
* QpiAI Labs Pvt Ltd Rs. 47 crores 9 jobs
* Qubitech Smart Solutions Rs. 15 crores 30 jobs
* QClairvoyance Quantum Labs Pvt. Ltd. Rs. 14 crores 512 jobs
* Cybranex Rs. 10 crores 1015 jobs
* Qubeats Rs. 37 crores 40 jobs
* Centella AI Rs. 6 crores 40 jobs
* Fortytwo42 Technology Innovations Rs. 9 crores 58 jobs
* Cipsa Tech India Rs. 1140 crores 1251 jobs
* Shree Tammina Software Solutions Rs. 62 crores 500 jobs
* ACN Healthcare RCM Rs. 30 crores 600 jobs
* Nonrel Technologies Rs. 50.67 crores 567 jobs
* PVR Hospitalities Rs. 225 crores 1230 jobs
* Meglon Leisures Rs. 348 crores 1700 jobs
* Yaganti Estates Rs. 61 crores 250 jobs
* Naandi Hotels Rs. 150 crores 222 jobs
* Reliance Consumer Products Rs. 1622 crores 1200 jobs
* Ramayapatnam Cargo Reception Terminal Rs. 1615 crores 1300 jobs
* Sagar Defence Engineering Rs. 45 crores 300 jobs
* TGV SRAAC Rs. 1216 crores 400 jobs
* Sri Venkateswara Biotech Rs. 122 crores 184 jobs
* Emerge Glass Industries Private Limited Rs. 182 crores 415 jobs
* Zeit Energies Rs. 305 crores 300 jobs
* Raman Singhs Global Food Park Rs. 141 crores 600 jobs
* Gayathri Renewable Fuels and Allied Industries Pvt Ltd Rs. 320 crores 700 jobs
* Malladi Pharma Rs. 343 crores 355 jobs
* Virupaksha Organics Limited Rs. 1225 crores 1500 jobs
* Ramuka Global Eco Works Rs. 193 crores 426 jobs
* Mass Fabric Park Rs. 200 crores 35000 jobs.