Visakhapatnam Economic Region to be developed as Global Economic Hub: CM

Visakhapatnam: Chief Minister N Chandrababu Naidu directed the officials to implement a comprehensive strategy to develop Visakhapatnam Economic Region (VER) as a Global Economic Hub. He said that the region must witness progress in across all sectors including industries, IT, tourism, urban development, green energy and infrastructure.

The Chief Minister directed officials to transform Visakhapatnam into a slum-free city. He reiterated that the entire state would be developed through three economic regions—Visakhapatnam, Amaravati and Tirupati.

The Chief Minister conducted a review meeting with officials and public representatives here today on VER development. He discussed on 49 major projects related to integrated development, roads, railway lines, ports, logistics, and other sectors under the VER.

The Chief Minister stated that the goal is to elevate VER’s GDP from 52 billion dollars in 2024 to 125–135 billion dollars by 2032. Using 7 growth drivers and 10 enabling policies, VER is expected to generate 3 million jobs. If the VER Master Plan is effectively implemented, the region could reach a 750–800 billion-dollar economy by 2047, he noted.

He instructed the officials on the actions to be taken in the next three months as per the Master Plan. He emphasized the need to build an international-standard convention center in Visakhapatnam. The Chief Minister said that by utilizing the extensive resources within VER, extraordinary progress can be achieved across sectors like Steel City, Industrial City, Pharma City, and Tourism.

He added that Medtech Zone-2 would be launched soon in Anakapalli and that industries investing in the Toys Park would receive incentives. Efforts must be made to attract defense manufacturing companies as well.

The CM directed officials to integrate agency areas with the rest of the region and focus on expanding road networks. He said separate action plans should be prepared for each department.

The Chief Minister said that if farmers come forward collectively, permissions would be granted to establish private industrial parks. Bringing industries into Uttarandhra will help eliminate migration completely, he added.

The Chief Minister said that the Visakhapatnam region is highly favorable for cultivating various crops. In addition to promoting oil palm, efforts should be made to encourage inter-crops such as cocoa, banana, and black pepper. Poultry farms would help boost income, he said.

The Visakhapatnam Economic Region comprised of nine districts including Srikakulam, Vizianagaram, Visakhapatnam, ASR, Parvathipuram Manyam, Anakapalli, Kakinada, East Godavari and Konaseema. The Economic Region should be developed through 7 Growth Drivers including Global Port, Next-Gen IT, Agriculture, Tourism, Healthcare Hub, Planned Urbanization & Housing and World-class Infrastructure.

A Master Plan has been prepared to develop the 40 sq. km coastal stretch from Kailasagiri to Bheemili into a core tourism city of Andhra Pradesh.

Ministers Nara Lokesh, K. Atchannaidu, P Narayana, T.G. Bharat, Kandula Durgesh, Kondapalli Srinivas, Dola Sreebala Veeranjaneya Swamy, Kollu Ravindra, Chief Secretary K Vijayanand, senior officials and collectors of all 9 districts participated.