Japan State Minister of Economy, Trade and Industry (METI) Yosuke Takagi and Andhra Pradesh Chief Minister N. Chandrababu Naidu signed a Memorandum of Cooperation on development of new capital city of A.P. and industry cooperation here on Thursday.
Under the pact, an Andhra Pradesh Investment Task Force (APITF) will be set up in Japan for accelerating industrial development in A.P. It is a part of the MoC between Japan and Government of A.P that will facilitate further investments by the Japanese companies in the State.
Japan Ministries of Land, Infrastructure, Transport and Tourism, Agriculture, Forestry and Fisheries, Japan Bank for International Cooperation (JBIC), Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA) and New Energy and Industrial Technology Development Organization (NEDO) have partnered with the METI.
A.P has requested the Japanese Government to extend technical assistance for developing a masterplan on such strategic sectors as transportation infrastructure in the new capital area.
The JICA has chosen transportation for extending technical assistance. The other Japanese multilateral funding agencies will help A.P Government in development of seaports, food value chains, ultra-supercritical coal-fired power plants, renewable energy projects and smart cities among others.
Later, JBIC Director General (Social Infrastructure Department) Noriko Nasu and A.P Principal Secretary (Finance) P.V. Ramesh signed a MoU for facilitating foreign investments in A.P.
On the occasion, Mr. Takagi said he was happy to be associated with the development of A.P and that he looked forward to a large scale participation in what is going to be India’s Gateway to the East Asian countries.
Mr. Naidu requested the Government of Japan to make investments in a big way in the Capital Region particularly in urban development, seaports and other sectors which had tremendous untapped potential.
