Food processing sector received highest number of MoUs followed by Industries department 241 MoUs. A total of 1,168 MoUs worth Rs 16,24,262 cr were signed since June 2014.
Chief Minister N Chandrababu Naidu conducted a review on the status of MoUs signed by various departments for the past two years.
Of the total 1,168 MoUs, 664 MoUs worth Rs 10,54,596 were signed during 2017 CII Paratnership summit. Whereas 328 MoUs were signed during 2016 partnership summit.
Apart from these two occasions, a total of 176 MoU’s were signed by various companies to invest Rs 1,07,917 crores.
Out of the total MoU’s signed 134 of them have already gone into production with an investment of around Rs 64,250 crore and expected to provide employment to 52,305 people.
The Industries Department has succeeded in attracting 211 projects to the State that is apart from the 241 MoU’s signed. The total investment made by the 211 projects is Rs 1,08,514 crore.
The Chief Minister said that Andhra Pradesh has a lot of opportunities and based on the available resources in the State a detailed study should be made to identify the location and type of industries. A continuous dialogue with the investor is also important, he added.
“We need to attract more investments in the Agriculture and allied sectors. This will help in creating more job opportunities for the youth”, the Chief Minister said.
The progress of the projects should be uploaded on the website from time to time the Chief Minister stressed.