BUSINESS

Andhra Pradesh to set up Korean desk to facilitate investment

Inviting industrialists from Republic of Korea to invest in Andhra Pradesh, State Chief Secretary IYR Krishna Rao said a Korea Desk would be set up to facilitate investors.

H istorical linkage

Drawing upon the historical linkage between the two countries, the Chief Secretary said the relations between the India and South Korea was cultural and not commercial and emphasised on the need to strengthen the two millennia-old relationship that began with Princess of Ayodhya marrying King of Korea in AD 48.

Speaking at the inaugural of the Korea Caravan organised by the Korea-Andhra Pradesh (AP) Friendship Forum here on Tuesday, the Chief Secretary emphasised on the ease of doing business in the state, which was recognised by the World Bank in its latest report on the subject. He invited Korea to partner the State in building the Greenfield capital Amaravathi and thanked the Embassy of Republic of Korea for selecting Andhra Pradesh to organise such an event.

Earlier, Minister for Information Technology and Public Relations Palle Raghunadh Reddy spelt out the priority areas of the State Government and said that Chief Minister N. Chandrababu Naidu had expressed his regret that he could not attend the event.

Andhra Pradesh is making spectacular progress and is drawing attention of the world to its performance, Ambassador of Republic of Korea to India Joon-gyu Lee said. The Korean industries had developed expertise in a number of industries and were keen on investing in Andhra Pradesh in infrastructure, skill development and smart cities.



Industrialists and experts from both the countries participated.