Naidu's authorities will signal greater than 400 memoranda of understanding (MoUs) with prime corporates, together with Reliance Industries Ltd, Brookfield, ReNew, SAEL Industries, Hero Future Energies and Accenture over Friday and Saturday. The important thing Nationwide Democratic Alliance (NDA) ally additionally addressed scepticism over agreements that don't translate into tasks on the bottom.
“These MoUs aren't on paper. Every funding is real and can come into the state inside the subsequent three and a half to 4 years,” Naidu mentioned. “I'm completely satisfied to share that over the past 16 months, my cupboard has cleared investments of as much as Rs 9 lakh crore. Over the subsequent two days, we will probably be signing MoUs for an additional Rs 9-10 lakh crore. These are all implementable. We will get Rs 20 lakh crore of investments grounded and generate 20 lakh jobs.”
Naidu's Telugu Desam Celebration (TDP) had stormed into energy with an unprecedented mandate in 2024 after a marketing campaign that pledged Tremendous Six guarantees, which included producing 2 million jobs. The chief minister mentioned Reliance will set up the nation's greatest meals park within the Rayalaseema area, thought of a backward space.
“I invited Reliance to come back and set up a meals park — we're signing an MoU tomorrow,” he mentioned.
Other than prime firms, Naidu will signal an MoU with the Singapore authorities, which had left the state when he was voted out of energy in 2019. A Singapore consortium had been working with Naidu on his dream challenge — constructing the state capital in Amaravati. Naidu has been capable of get the island-state's authorities to renew its partnership with Andhra Pradesh. He informed ET that the cooperation is not going to be restricted to Amaravati.“We could have an MoU with the Singapore authorities,” he mentioned. “They've returned to the state via the World Financial institution and can present general steering to your entire state and never simply Amaravati. This time they're returning cautiously and offering capability constructing and greatest governance practices.”Naidu blamed the earlier Jagan Mohan Reddy-led YSRCP authorities for “destroying” the state financial system and driving away investments. The chief minister mentioned the state was as soon as once more witnessing a spurt in investments as a consequence of his efforts.
“We'll create ecosystems in order that this funding momentum continues,” Naidu mentioned. “We misplaced closely as a result of they (YSRCP) tampered with every little thing. They destroyed all establishments. As an illustration, solar energy. They scrapped energy buy agreements and stopped purchases for one and a half years. The builders went to courtroom and the federal government was pressured to buy energy. The courtroom gave orders for arrears of Rs 9,000 crore to be cleared. These are the issues they created.”
Naidu mentioned that his authorities is now recognized for velocity of doing enterprise. The partnership summit's tagline exemplifies this: “Firms that select velocity, select Andhra Pradesh.”
The state is engaged on a decentralisation mannequin the place completely different nodes are being developed to draw investments in a selected sector. Naidu mentioned he would really like your entire state to be developed as a tourism vacation spot.
