Even as uncertainty dogs the granting of special category status to Andhra Pradesh, several foreign companies are evincing interest to invest in and around Visakhapatnam, the largest city in the State, because of connectivity and huge industrial base developed over the past several decades.
The decision to choose Visakhapatnam as one among three cities, Allahabad and Ajmer being the other two locations, for development as smart city with the support of the United States has generated lot of interest among the foreign investors. Several teams have already visited Visakhapatnam and enquired from the officials about the plans to develop the city into a mega hub.
Deputy Head of Mission and Head of Trade and Investment at British Deputy High Commission Abhilash Puzhakara, during an interactive session organised by the AP Chamber of Commerce and Industry Federation, said they were interested to explore collaborative opportunities with Indian companies.
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The foreign delegations have identified life sciences, shipbuilding, science and technology, pharmacy, logistics, IT, higher education, and biotechnology as areas for joint ventures.
The Embassy of Republic of Korea recently held Korea Caravan, in which top executives from Samsung and Hyundai participated.
Bavaria, the economic powerhouse of Germany, also met investors here to explore various opportunities.
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“We are looking at opportunities for investment in Visakhapatnam, Amaravati, and other places in AP,” Bavaria India Office Executive Director John Kottayil told The Hindu . Another shot in the arm will be the hosting of CII Partnership Summit in Visakhapatnam in January. About 1,500 to 2,000 delegates from 50 countries are expected to participate.
“Chief Minister N. Chandrababu Naidu will have a dialogue with the delegates to showcase AP in general and Visakhapatnam in particular as an investment destination,” CII Vizag zone chairman Neeraj Sarda said.