Hyderabad: Andhra Pradesh will have Japan's imprint on development in various spheres, particularly in building the state's new capital, if plans drawn out by the TDP-led Government fructify.
Not only Japan's top companies and organisations but also the its government has agreed to "work with us" and aid in development of the "sunrise state", Chief Minister Chandrababu Naidu said on Monday and expressed satisfaction over his five-day successful trip to Asian economic powerhouse last week.
Naidu is promoting Andhra Pradesh as a "sunrise state" given its location in the east-coast zone.
Briefing mediapersons about the outcome of his second foreign visit after taking over as the Chief Minister of the truncated State, Naidu said the main purpose of his trip was to make preparation for long-term development plans for AP.
"I am preparing long-term plans for the State and not looking at instant gains. Japan Government has promised support and its participation in our State's development while major Japanese companies and organisations have also agreed to chip in with investments and other assistance," he said.
Japanese Prime Minister Shinzo Abe was "very positive" after knowing the state's development plans, the Chief Minister said, adding, "I have requested Abe to visit Andhra Pradesh when he tours India next year and he has agreed."
Japan's Ministry of Economy, Trade and Industry (METI), he said, signed a Memorandum of Understanding (MoU) with the AP Government to promote direct investment by companies from Asia's second largest economy into Andhra Pradesh in urban development, infrastructure, manufacturing, agriculture, food processing and information technology.
METI would also support development of industrial parks in AP, he added. Japan International Cooperation Agency (JICA) has come forward to prepare a project report on the industrial potential in AP and promote investments.
"We are in the third place now in Japanese investment but we want to make it No 1. Already three Japanese companies are investing in the Sri City SEZ in Chittoor district and more are expected to come," the Chief Minister said.
SoftBank, a major business group of Japan, has evinced interest in setting up 10,000 MW of solar power plants in AP.
"SoftBank Chairman and CEO Masayoshi Son is currently doing some research to make the solar power project cost-effective and efficient so that the per unit cost could be brought down to Rs 4 from the current Rs 6.5," he said.
"Son said he will visit AP in the next 45 days to finalise his company's investment plans and also help us in promoting Information Technology projects," Naidu said.
The AP Government also signed four crucial agreements with Sumitomo Corporation for modernisationmechanisation of agriculture sector; promotion of foreign investments in the food processing sector; establishment of a 4,000 MW thermal power plant in Srikakulam district and development of the new capital of AP into a "world-class smart city", he said.
"A top Japanese architect met us and said he would design a plan for our new capital. During my recent visit to Singapore, I requested the Government to associate with us in preparing a Master Plan for the capital. Once the plan is prepared, Japan is ready to participate in the building of the capital," the Chief Minister said.
"Singapore's Trade and Commerce Minister Iswaran will visit Hyderabad on December 8 wherein details of the capital development and other plans will be discussed."
Noting that "red-tape" was the "biggest problem" in India when it comes to granting approvals related to projects and investments, Naidu said he has initiated an exercise of reorganising the set up to simplify processes and fast-track clearances.
Questioned about the tax incentives promised to AP under the Reorganisation Act-2014 (under which the state was bifurcated), the Chief Minister said they were vigorously pursuing the matter with the Centre. "I am hopeful it will come through soon. We will simultaneously bring out a new industrial policy offering incentives to investors."
Asked about his next foreign destination to attract investments, Naidu said it could be South Korea or Germany.
"I will make AP the logistics hub and the gateway for south-east Asian countries by developing two container ports and other ports," he added.
