Promoting Visakhapatnam as an ideal investment destination to Singapore investors, Chief Minister N. Chandrababu Naidu hosted an interactive session between industrialists and a visiting Singapore business delegation.
The local investors should network with the members of the visiting delegation to be able to leverage the technological advantage of the industries in the City Nation, the Chief Minister said addressing the local investors here on Tuesday.
The city has a locational advantage to become a major logistics hub and there is scope for investment in the logistics sector here, Visakhapatnam Port Trust Chairman M. T. Krishna Babu said. A number of industrialists from the city pointed out specific sectors for investment, including IT, tourism and education.
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Praising the spirit of the people of the city in bouncing back from the devastation caused by Cyclone Hudhud, Singapore Minister for Trade and Industry S. Iswaran said that there was immense potential in India in the manufacturing sector. Manufacturing for both domestic and export market, he added.
The visit is just the beginning, the Chief Minister said and told the visiting delegates that they would have daily flights connecting Singapore to Visakhapatnam. The State Government would launch its e-biz platform in February which would enable potential investors to apply online and get their clearances in a time bound manner without the investor having to physically visit any government office.