AP attracting Investors, but need Center’s help

The International Finance Corporation (IFC), a member of World Bank Group has come forward to develop Vijayawada into smart city. Chief Minister Chandrababu Naidu had a meeting with the IFC top executives at Hyderabad yesterday and sought their advisory services to the state government on capacity building exercise.

Naidu seeks their suggestions on redefining urban and traffic management. He asked them to submit their proposal for converting 110 municipalities in the state to 'liveable' towns. He suggested them if they could provide any help in developing the tourism spots and management of public places in the towns and cities. IFC executives have explained him about their works undertaken in Bihar to develop Buddhist circuit and offered its services to the AP government under PPP (Public-Private-Partnership).

The IFC has expressed its readiness to finance and bring in private investor for roof-top solar and waste-water management fields. Recently, Japan government also has expressed interest to invest in the state. One of its Company Sumumito is setting up a thermal power plant with latest technology in Srikakulam district. Four thermal power plants are coming up near Krishnapatnam in Nellore district. Asian Paints Company is gearing to set up its largest manufacturing unit at Visakhapatnam district very soon.

The leading two wheeler manufacturers Hero Moto Corp is setting up its 1st production plant in south India in Chittoor district. Several medium and heavy industries are also simultaneously coming up in three corners of the state-Nellore, Chittoor and Visakhapatnam districts.

All these developments are revealing that the state is able to attract huge investments, despite its odd situation and poor financial condition. This is also underlining a point that those who are coming forward to invest in the state, are coming because they are foreseeing a great potential for development of the state and thus their businesses also. Hence, the state need is a timely help and support of the the Center to stand on its own feet.