Though the State government could not prevail upon the Centre to grant special category status to the residuary State post-bifurcation, investors still hope that Visakhapatnam has a bright future to become a hub when it comes to port-related development.
Investors feel convinced with the city’s prospects of becoming the gateway to South-East Asia. Its ready-built infrastructure will itself ensure steady flow of funds in various sectors, including steelmaking, pharma, manufacturing, IT, and tourism, they say.
“With Visakhapatnam being transformed into a gateway to South-East Asia, we are confident of the city becoming a transhipment hub,” says senior vice-president of J.M. Baxi & Co. K.P. Unnikrishnan.
The efforts to launch work on the Visakhapatnam-Chennai Industrial Corridor, petroleum and IT corridors, and develop Bhavanapadu and other minor ports all along the 974-km coast will change the investment profile of Visakhapatnam.
Visakhapatnam is the largest city in Andhra Pradesh and the second largest after Hyderabad in the undivided State in population, size and GDP.
“The hope generated so far is expected to become a reality in the next few years with the government offering the promised incentives to do business with ease. Introduction of single window system for according time-bound clearances to investment proposals is one such trend-setting decision,” says CEO of Vizag General Cargo Berth D.K. Manral.
Flight connectivity from Visakhapatnam to Singapore, Dubai, and Kuala Lumpur, land acquisition for a Greenfield international airport at Bhogapuram, 10,000 mw nuclear power plant at Kovvada, 80 km from here, and development of a petroleum corridor from Visakhapatnam to Kakinada, and warehousing hub by the Visakhapatnam Port Trust near Anakapalle will give a boost to showcase ‘Destination Vizag’ for investments.
Ready-built infrastructure will itself ensure steady flow of funds in various sectors,
they say
