Andhra Pradesh: A New Era of Investment and Tourism Development

The Andhra Pradesh Investment Promotion Board has cleared 27 projects with investments exceeding Rs 29,000 crore. Chief Minister Chandrababu Naidu emphasized the 'Speed of Doing Business' policy and proposed developing tourism across Visakhapatnam, Amaravati, and Tirupati. He highlighted the need for infrastructure to attract foreign investments and boost health tourism.

The Andhra Pradesh Investment Promotion Board has approved 27 new projects, bringing in over Rs 29,000 crore in investments. This decision came during the 15th State Investment Promotion Board meeting chaired by Chief Minister N Chandrababu Naidu, who stressed the importance of the 'Speed of Doing Business' policy for industrial projects.

In a bid to boost the state's economy, Naidu announced plans to invite NRIs for more investments, particularly in semiconductor projects. He urged officials to remove any government barriers and offered incentives for projects on privately-owned land. Mega projects from giants like Google and ArcelorMittal are also considered.

Furthermore, Naidu proposed significant developments in tourism across Visakhapatnam, Amaravati, and Tirupati. Initiatives include creating clusters like Suryalanka and Gandikota, establishing more hotels and convention centers, and enhancing health tourism. The focus is also on setting up a culinary institute in Tirupati to promote the food sector.

(With inputs from agencies.)