The investment opportunities in the State in the food processing, automobile, aerospace and defence, hardware, tourism, infrastructure, and other sectors will be showcased at the three-day CII Partnership Summit and Sunrise Andhra Pradesh Investment Meet beginning here on Saturday.
Vice-President M. Venkaiah Naidu, Union Commerce and Industry Minister Suresh Prabhu, and noted industrialists Gautam Adani and Adi Godrej will take part in the inaugural session along with Chief Minister N. Chandrababu Naidu.
Convention centre
The foundation-laying ceremony for the International Convention Centre, a five-star hotel and mall will also be laid at the APIIC grounds, Harbour Park, the venue for the summit.
The summit is being jointly organised by the State government, the CII, and the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
Banners and hoardings have been erected at various places in the city to welcome the delegates.
Mr. Naidu will arrive in the morning to greet the VIP delegates and hold one-on-one meetings before commencement of the summit.
Elaborate arrangements were made for various sector-wise plenary sessions. Over 2,000 delegates, 40% of them from abroad, will attend.
Cautious approach
“All arrangements have been made for the third edition of the summit in the State. We are expecting trade delegations from 20 countries,” CII A.P. vice- chairman R.V.S. Rudraraju told The Hindu on Friday.
In a change in strategy, this time the State government has decided to lay emphasis on signing MoUs only with serious players going by the experience in the past.
In all, 306 MoUs have been cancelled for not preparing detailed feasibility reports in time. A task force has been set up to monitor the status of the investment proposals.
In a series of tweets, the Chief Minister said they had committed investment of ₹3.44 lakh crore among the MoUs signed in 2016 and ₹6.98 lakh crore among those inked in 2017. He said A.P. would emerge as the most favoured investment destination in the world by 2050.
HRD Minister Ganta Srinivasa Rao confirmed that in the two summits held earlier, 306 MoUs were scrapped due to lack of seriousness in the investors.
