A vital memorandum of Cooperation was signed between Japanese Ministry of Economy, Trade and Industry and AP Government yesterday, just before the main Amaravati Foundation Ceremony.
Japan State Minister of Economy, Trade and Indusstry (METI), Yosuke Takagi signed a pact with Chief Minister N Chandrababu Naidu with a consensus to develop the new capital city of the state and extend full industry cooperation to Andhra Pradesh.
According to the deal signed, a special Andhra Pradesh Investment Task Force (APITF) will be set up in Japan for empowering industrial development within the state. The MoC will officially facilitate further investments by the Japanese companies in the State.
Several of Japanese industrial bodies have partnered with METI to this effect. These include Japanese Ministries of Land, Infrastructure, Transport and Tourism, Agriculture, Forestry and Fisheries, Japan Bank for International Cooperation (JBIC), Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA) and New Energy and Industrial Technology Development Organization (NEDO).
The government of AP has requested the Japanese Government to extend technical assistance towards developing a master plan in the more strategic sectors such as transportation infrastructure in Amaravati.
JICA has chosen to provide technical assistance with transportation. Several other Japanese multilateral funding agencies will also help the state govt of Andhra Pradesh in the areas of development of seaports, food value chains, ultra-supercritical coal-fired power plants, renewable energy projects and smart cities etc.
Director General (Social Infrastructure Department) of JBIC Noriko Nasu and A.P Principal Secretary (Finance) P.V. Ramesh signed a MoU towards facilitating foreign investments within AP.
Mr. Takagi, who was one of the distinguished guests for the Amaravati ceremony stated that he was happy to be associated with the development of Andhra Pradesh and looked forward to a large scale participation in Amaravati, India’s new gateway to the East Asian countries.
Mr. Naidu earnestly requested the Japanese government to make investments in a big way in the Capital Region, across prime sectors such as urban development, seaports etc.