Exploratory pacts with prominent firms in South Korea and Japan for setting up of industries, joint collaborations, research, exploring financing of metro rail phase two with the Japanese International Cooperation Agency (JICA), et al marked tours of the two countries taken up by Minister for IT & Municipal Administration K.T. Rama Rao and his team.
“We had a fruitful visit to both countries and we expect the investments to firm up soon as our Minister did a hardsell of Telangana State in providing ideal environment, since it assures power, water and attractive industrial policy where permissions are given in 15 days flat,” said Advisor G. Vivekanand at a press conference on Monday.
Flanked by Suresh Chukkapalli, Honorary Consul of Republic of Korea and Hyderabad Metro Rail managing director N.V.S. Reddy, he said a memorandum of understanding was signed with the country for developing long-term collaboration in fields of animation, gaming and VFX, VR, Internet of Things, electronic manufacturing, etc.
Another cooperation pact was for studying joint collaboration with an automative group while talks were held with a prominent pharma firm for setting up base in pharma city besides meetings with Hyundai Corporation and Hyunda Rotem. Discussions with Daegu Metropolitan Textile City centred on investing in Warangal Textile Park and a fashion city in Hyderabad, he explained.
Top industrialists in Japan were also invited to invest in TS as it topped in ease of doing business and the youngest State with a high growth rate, but he refused to put a figure to possible investments. Preliminary talks were held with JICA about possible funding to the second phase of the Hyderabad Metro Rail project, but more ground needs to be covered like submitting detailed project reports and taking Centre’s approvals, etc., said Mr. Reddy.
He reiterated the Nagole to Hi-Tec City or Corridor Three and Miyapur to L.B. Nagar stretch or Corridor One would be completed by November. A full-fledged Korean Consulate would be opened soon in the capital and it would help nurture people to people and cultural exchanges. Students exchange programmes are being pursued seriously, with the University of Hyderabad already sounded about taking in students from Korea, said Mr. Chukkapalli.
