Chandrababu Naidu urges global investment in Visakhapatnam Fintech Valley

Andhra Pradesh Chief Minister N Chandrababu Naidu Tuesday urged global investors to set up their units in Visakhapatnam Fintech Valley which he claimed would become one of the top three fintech centres in the world. 

Visakhapatnam would be developed as an innovation valley, Amaravati as a knowledge economy hub and Tirupati as a hardware and electronic hub, he said after inaugurating the Vizag Fintech Festival here. 

He said the state government has been adopting total integration of technology to improve delivery mechanism to increase the satisfaction level of people. 

Inviting global industrialists to invest in the state, the chief minister said the government had big data of all domains and there is wide scope for experimentation. 

He said both the government and private sector should work together for the advantage of the common man. The chief minister said the government wanted to bring revolution in innovation for the betterment of society. 

"Innovation is a continuous process and the state government would adopt all-new innovative ideas provided by IT companies for the betterment of the society," he added. 

The chief minister said his government had launched the e-pragati platform to provide good governance. 

"Visible governance and the invisible government is our motto and our ultimate objective is to make all government transactions online and integrate the data to provide the best possible governance," he said. Minister for IT Nara Lokesh interacted with several industrialists and responded to their queries. 

He said industries play a key role in the growth of Andhra Pradesh. Lokesh said Fintech is one of the government's initiatives started in 2016 and added Fintech Valley had attracted world-class companies in the last two years. 

He said the state government had been utilising technology in all government departments. 

Several companies signed MoUs at the inaugural of the Fintech Festival with the Andhra government to launch operations in the state.

(With inputs from agencies.)