Short Takes

A “South Korea City” is expected to come up in Andhra Pradesh's new capital, Amaravati, or elsewhere in the state as Chief Minister N. Chandrababu Naidu invited industrialists from the country to set up their ventures in the state. Naidu told a delegation of South Korean industrialists: “We will extend full cooperation and encouragement from the government if you make Andhra Pradesh your second capital and set up industries in a big way. We will develop a South Korean City, on the lines of Busan in your country. “We will sign MoUs if you come up with comprehensive proposals and designs.” He tried to woo other industrialists from the country by presenting South Korean automobile giant Kia Motors, which is setting up its car manufacturing unit in Anantapuramu district, as the mascot. “We share similarities in size and population and we are both blessed with a vast coastline. We are rich in natural resources and I am very interested to collaborate with South Korea,” he said. Naidu offered land, water, uninterrupted electricity and other incentives for the Koreans in his bid to woo them to the state.

The Andhra Pradesh government will soon be announcing a more investor-friendly tourism policy by making certain changes to the 2015-20 policy, announced two years ago, to make execution of projects speedier and attractive for investors. Bhuma Akhila Priya Reddy, Andhra Pradesh Tourism and Culture Minister, said the tweaked tourism policy would address issues related to land allocation and its high cost, lease rents, incentives for smooth and speedy implementation of tourism infrastructure development projects in all 13 districts. She disclosed that the state government proposes to allot a 240-acre site in Madhurawada, Visakhapatnam, to be developed as a resort and theme park on the lines of Genting Highlands in Malaysia. The other major projects include the development of Bhavani Islands, village tourism, 39 beach locations, and jetties near ports as tourist spots. Krishna Kishore, CEO, Economic Development Board, AP, said the huge industrial investments flowing into the state from Japan, Singapore, US, would also open up the tourism potential. Also, a proposed 1,000-km road along the beach would open up beach-front tourism.

The Andhra Pradesh government signed 17 initial pacts worth Rs 4,000 crore ($615 million) with reputed global and domestic players at a recent three-day World Food India 2017 organised by the central government. A major MoU has been signed with the UAE's Sharaf Group, where it has promised to invest Rs 2,000 crore (almost $308 million) for setting up of a logistics and food park. The state's Chief Minister, N. Chandrababu Naidu, held one-on-one meetings with the corporate leaders in the food processing industry and invited them to invest in the state, assuring them of full cooperation in terms of providing land, water and necessary logistics for setting up the business. Haldiram's has signed an agreement with the state government to establish a food processing and manufacturing unit with an investment of Rs 400 crore ($61.5 million). Janani Foods Pvt has also promised to invest Rs 500 crore ($77 million) for the setting up of an integrated horticulture project in the state. Keventer Agro signed an MoU with an investment promise of Rs 250 crore ($38.5 million) for setting up of a banana procurement and processing unit. Other major MoUs were signed with ITC, Sesh Sai Foods, MNR Agri Food Products, Foods and Inns, Freshfrugies, RF Exports, Tifosi Foods, Waycool and Supermarket Grocery Supplier Pvt Ltd (BigBasket.com).