Andhra signs MoUs with Siachuan for investments

Vijayawada, February 23: The government of Andhra Pradesh today signed a Memorandum of Understanding with Siachuan province of China for investments in the state.

Addressing Andhra Pradesh- Sichuan Province investment and cooperation exchange conference in Vijayawada, Minister for Finance Yanamala Ramakrishnudu said the efforts of  Chief Minister N. Chandrababu Naidu to attract investments for the past two years started yielding results.

The minister explained on the investment opportunities in the state to Chinese delegates.

He said that Andhra stands number one in ease of doing business as per World Bank report. He said Amaravati would be developed as world class city. He said there is vast scope for investments in airports, manufacturing sector, ports and agricultural sector in the state.

He said a target was set to achieve 12.32 per cent growth in the state this year. Later MoUs were signed between Andhra Pradesh and Sichuan province for investments in various sectors.

Earlier a one to one meeting was held between Chandrababu Naidu and Vice-Governor of Siachuan province Liu Jie.

Lu Jie later explained about the similarities between India and China. He said that the relations between two countries would pave way for development. Welcoming sister state relations he said over 500 China companies invested in India.

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