Chief Minister N. Chandrababu Naidu announced that Andhra Pradesh was preparing to sign 303 additional Memorandums of Understanding (MoUs) involving investments of Rs 9.89 lakh crore. Speaking at the inaugural session of the 31st CII Partnership Summit in Visakhapatnam, he invited entrepreneurs attending the two-day event to come forward with investment proposals and sign MoUs with the State government.
Naidu said the government was ready to work with entrepreneurs interested in investing in Andhra Pradesh and urged every entrepreneur to consider signing at least one MoU before leaving the summit. He said the government had presented detailed information on the State’s investment opportunities and its efforts to attract industries.
The Chief Minister stated that, with the proposed 303 MoUs, the total investment commitments secured by Andhra Pradesh over the past two-and-a-half years would reach Rs 32.49 lakh crore. Describing this as the biggest investment figure in the country, he thanked entrepreneurs and investors for placing their confidence in the State government.
Investment Protection Act to safeguard investors
Chief Minister N. Chandrababu Naidu has called for the introduction of a Central Investment Protection Act to provide greater security and confidence to investors across the country. Speaking at the inaugural session of the 31st CII Partnership Summit in Visakhapatnam, he said concerns over regime changes and what he described as vindictive politics were creating apprehensions among investors.
CM Naidu said his government was preparing a State-level Investment Protection Act and would send the Bill to the Centre after its passage in the Assembly. He urged Union Minister for Commerce and Industry Piyush Goyal to take up the proposal with the Central government and work towards converting it into a national law.
The Chief Minister expressed confidence that a Central Act offering protection to investors would encourage a stronger flow of investments into India and attract global investors. He praised Piyush Goyal’s ability to take up the proposal with Prime Minister Narendra Modi, whom he described as proactive, and said such a measure would help make India an unstoppable investment destination.