The Andhra Pradesh (AP) government, in coordination with the ministry of external affairs, will conduct a conference on attracting investments in different fields to the state on 9 August at Vijayawada.
The event, which was announced after the AP assembly passed a bill last week reserving 75% of jobs in all industries for locals, will be attended by ambassadors, diplomats, and consul generals from an estimated 30 to 40 countries.
“The summit to commence on 9 August will have two phases. In the first phase, chief minister of Andhra Pradesh Y.S. Jagan Mohan Reddy will meet with ambassadors and consul generals of the respective countries. In the second phase, he would hold individual meetings with the representatives of different countries," according to a press release issued by the state government.
It will be interesting to see if the state government will push for more investments for Amaravati, the upcoming capital that is now facing funding problems after the World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB) withdrew their combined investment of $500 million in the capital city project. The WB took the decision after the Indian government withdrew its request for funding the project and the AIIB followed suit as it was roped in by the WB. All eyes are thus now on the state government to see how it raises funding for the upcoming capital.
The AP government was supposed to put in an additional $215 million in the project. AP Capital Regional Development Authority commissioner P. Lakshmi Narasimham had earlier said that the state government will take a decision on the matter after consulting the Union government in the coming days.
An official of the chief minister’s office also said that Reddy is also likely to launch the first ‘Made in India’ car of Kia Motors on 8 August at Penukonda in Ananthapuram district.