Amaravati, February 19 The Andhra Pradesh Investment Promotion Board meeting has approved 27 projects with an investment of over Rs 29,000 crore.
Emphasizing a shift in governance, the CM stressed that the "Speed of Doing Business" policy must remain the guiding principle in all matters related to industrial projects.
"The 15th State Investment Promotion Board (SIPB) meeting, held under the chairmanship of Chief Minister N Chandrababu Naidu, approved 27 projects with an investment of Rs 29,021 crore," said an official press release on Wednesday evening.
In 15 SIPB meetings, Andhra Pradesh has approved investments worth over Rs 9 lakh crore, which are expected to create over 8.5 lakh jobs, the press release stated.
Naidu emphasized that large-scale projects by reputed companies such as Google, ArcelorMittal, and BPCL are in the pipeline, and instructed officials to ensure there are no obstacles from the government side.
The CM also stated that a committee of ministers should monitor the allocation of land to companies and "revoke approvals if any company fails to start work."
He instructed officials to invite Non-Resident Indians (NRIs) to invest in the state, stating that the government is ready to offer special incentives to attract more semiconductor projects, and suggested examining additional incentives for projects set up on privately-owned land.
Furthermore, the Chief Minister said that tourism should be developed across three regions—Visakhapatnam, Amaravati, and Tirupati.
Naidu proposed forming clusters such as Suryalanka, Polavaram, Pulicat, Gandikota, Srisailam, Madanapalle, and Horsley Hills, with dedicated development plans, according to the release.
Establishing shopping malls, hotels, and similar facilities in these clusters would attract more tourists, he added.
According to the TDP supremo, a Bharat Mandapam is coming up in Visakhapatnam, which should be developed as an iconic structure and the best convention center in the country.
More hotels and convention centers are needed across the state, including in regions like Kakinada and Eluru, with a target of 50,000 hotel rooms.
He said the state should also host national-level mega events.
Similarly, the CM envisioned establishing ecosystems such as sports cities and creative cities, emphasizing the need to significantly boost health tourism.
He suggested setting up a culinary institute in Tirupati to promote the food sector in the southern state, and encouraging hospitality-related deemed universities.
Furthermore, Naidu observed that value addition in aquaculture would help revive exports to the United States, and also boost dairy, poultry, livestock, and meat exports, among other initiatives.