Adding a new fete to the many list of investor achievements, Andhra Pradesh will now see a massive investment coming from GE, Boeing and Airbus. 12 to 13 out of 30 aerospace and defence industries are now looking at AP as their next investment destination.
The policy advisory group of the World Economic Forum (WEF) shared some insights to this effect on Wednesday, when CM Sri N Chandrababu Naidu went visiting New Delhi. Various American multinational conglomerate corporations are presently showing a keen interest to invest in AP considering the resources and skill available in the State.
WEF delegates made a presentation to Chief Minister N Chandrababu Naidu on the subject of ‘making AP the hub for Aerospace and Defence Industries’ in New Delhi. The group shared that AP is ranked No. 2 in the World Bank’s ease of doing business ranking in the country and has the potential to become No. 1 in two to three years.
A Memorandum of Understanding for Competitiveness for the State of AP was previously signed between Philipp Roesler, Head of the Centre for Regional Strategies, Member of the Managing Board, World Economic Forum and Sanjay Gupta, special secretary (planning), in the presence of Naidu.
WEF’s main role in this collaboration will be sharing tools, providing technical support and training selected staff of the State government. The WEF will also deploy a technical collaboration and knowledge-sharing program on competitiveness for the AP government along with its partners.
World Economic Forum has over 40 years of experience in bench marking competitiveness and has by far had such a collaboration only with ‘countries’. AP will be the first state that will be collaborating with WEF in the entire world.