Andhra Pradesh to Establish SME Park in Partnership with Japanese Developers
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Synopsis
The Andhra Pradesh government is collaborating with Japanese developers to set up a dedicated SME Park near Sri City, aiming to strengthen economic ties and attract investments in various sectors.
Key Takeaways
- Andhra Pradesh is partnering with Japanese developers for an SME Park.
- The initiative aims to boost Japanese investments in the state.
- Key sectors for collaboration include shipbuilding and electronics.
- Strong historical ties with Japan are being leveraged.
- Investment potential in Andhra Pradesh is significant.
Amaravati, March 26 (NationPress) The government of Andhra Pradesh is set to partner with distinguished Japanese developers to create a specialized SME Park in proximity to Sri City.
During a meeting with a Japanese delegation led by Ambassador Keiichi Ono, Chief Minister N. Chandrababu Naidu emphasized the longstanding relationship with Japan and showcased the flourishing Japanese business ecosystem in Sri City, which has played a pivotal role in luring Japanese enterprises.
The discussions aimed at enhancing economic relations, boosting Japanese investments in Andhra Pradesh, and investigating collaborations across diverse sectors including shipbuilding, electronics, chemicals, automobiles, and education to foster new growth opportunities.
Furthermore, Industries, Commerce and Food Processing Minister T.G. Bharath has encouraged Japanese companies to invest in Andhra Pradesh.
At the event titled ‘Japan’s Connect with Andhra Pradesh’ held in Vijayawada on Wednesday, which was attended by the Japanese Ambassador and a business delegation, the minister spoke about ‘investment, infrastructure, people-to-people exchange & education’, urging various company representatives to invest in the state, asserting that Andhra Pradesh is a prime investment destination.
Bharath referred to Chief Minister Chandrababu Naidu as the leading ambassador of Andhra Pradesh, recalling how Naidu’s foresight accelerated the swift development of Hyderabad.
The Minister highlighted that Andhra Pradesh is advancing rapidly in terms of business, with the government providing comprehensive support to investors.
He asserted that within just nine months, the Naidu administration has attracted an investment of Rs 8.5 lakh crore. The government also intends to deliver outstanding incentives.
Bharath remarked that everyone is aware of the developments in the state over the past five years, stating, “Now we have instilled confidence in investors with the CBN brand.”
He underscored the substantial investment potential the state offers, indicating that investments can be made across various sectors.
