Naidu assures Japanese investors of quick clearances

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Thursday rolled out the red carpet for Japanese investors and offered them an ambience the ease of doing business, including clearances of mandatory permission in 21 days.

Inaugurating an Indo-Japanese seminar on “Expanding Technology Cooperation for Smart Community in Andhra Pradesh” here, he said that AP was strategically located to attract foreign investments.

As the best State “My aim is to develop A.P. into the best State in the country by 2029 and the most preferred global destination by 2050,” he said.

In an apparent response to the remarks of earlier speaker, Akio Isomata, Minister, Embassy of Japan, that Japanese companies in India were facing problems owing to lack of infrastructure, red tape and tax complications, Mr. Naidu promised that A.P. would be the best in terms of faster clearances, infrastructure and governance.

“We will not disappoint you. This is our commitment”, he added.

He further said that Indian economy was poised for double digit growth and India would be the natural destination for investors. Mentioning his plans to make AP the logistic hub for South East Asia, he offered to provide a transparent government and develop world class infrastructure.

He urged the Japanese government to participate in building the new capital into another Tokyo .

Mr. Akio said that the current visit by the Japanese companies to AP was of critical importance in bilateral relations between the two countries.

“Japan has decided to double its FDI in India to $ 35 billion in the next five years,” he said adding that there was a great surge of interest in Japanese industrial sector in coming to AP . He further said that the key to overcome the problems faced by Japanese businessmen here was to have direct cooperation of the State governments.

Ken Sasaji, Executive Director, Ministry of Economy, Trade and Industry (METI), Government of Japan, said the centre of gravity in terms of economy was between US and Europe in the 1980s, but it would be moving towards the Indian sub-continent by 2050.

Hiroshi Kuniyoshi, Executive Director, new Energy and Industrial Technology Development Organisation (NEDO) said that representatives of 100 Japanese public and private sector companies attended the seminar.

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Printable version | May 24, 2022 3:19:08 am |