Vizag is a hot destination for investments, says UK Deputy High Commissioner
Predicting a wide array of opportunities to strengthen bilateral ties between India and United Kingdom, British Deputy High Commissioner Andrew McAllister on Wednesday said he was very impressed with the growth potential of Visakhapatnam.
“With two ports, vast hinterland, home for several mega industries with good connectivity, I have no doubt that Visakhapatnam is a hot destination hub with huge potential for further growth. A drive on the beach road is quite an amazing experience,” he told The Hindu.
“When I came out of my hotel room this morning, I found several foreigners in the lobby – some of them wearing shirts bearing the logo of international companies,” he said adding this was a reflection of the fact that Visakhapatnam was emerging a happening city.
Mr. McAllister was here for the first time leading a team along with Deputy Head of Mission and Head of UK Trade and Investment Arun Pillai from Hyderabad to interact with prospective investors. They held talks with the members of CII and Vizagapatam Chamber of Commerce & Industries to focus on the mission of their visit.
He said they were looking at exploring investment opportunities in life sciences, urban infrastructure, green technologies, gas and energy, education and food processing. “Opportunities are available aplenty. What we need is to continue our efforts for a bigger engagement. With this in view, our government opened the Deputy High Commission’s office in Hyderabad,” he said.
Mr. McAllister said BP had come forward with a major investment near Kakinada. Quantum Clothing has a unit at Brandix India Apparel City. On the other hand, Reddy’s Lab and Infotech have their operations in the UK. Over 900 companies are operating in the UK as they are strategically placed in the Europe with favourable climate and timing to further business interest in the Europe as well as in the America.
He said due to long cultural and bilateral ties, they were not restricting their priority of investment opportunities to few areas. “It is wide open be it seafood processing or maybe organic coffee grown in Araku valley known for its aroma,” he disclosed.