Andhra Pradesh Chief Minister YS Jaganmohan Reddy’s plan to conduct a mega investment summit in Vijayawada to attract global investments into Andhra Pradesh has been receiving a lukewarm response.
Jagan announced on July 30 that AP government in coordination with union ministry of external affarirs will organise a mega conference in Vijayawada on August 9, in a bid to attract investments.
Jagan said that the conference will be attended by high-level representatives from various countries who include ambassadors, diplomats and consulate general from at least 30 to 40 countries.
However, the AP industries department, which has been approaching the dignitaries including industrialists and investors, to invite them for the event has been getting a poor response.
No major industrialist or investor confirmed their participation so far.
Official sources said that the industrialists and investors are upset at Jagan enacting a law in Assembly reserving 75 per cent jobs for local in all the industries to be set up in AP besides making it mandatory for existing industries to appoint 75 per cent locals in a phased manner.
Besides, the investors are also learn to be upset at Jagan choosing Amaravathi as the venue for location.
Because there are no facilities in Amaravathi or Vijayawada to organise the meeting of a global scale
The previous TDP used to hold investment summits in Vizag for which a large number of industrialists or investors used to attend,
Industrailists want Jagan to shift the venue to Vizag.
But Jagan is not keen to follow Naidu and he wants to create his own mark by organising the event in Vijayawada.
Due to these reasons, it is learnt that that event is not getting the kind of response it should get even after CM Jagan himself involving personally to ensure the success of the meeting.
AP has pitched high hopes on this summit. AP people are hoping that this summit will bring some big investments, industries into AP, thereby create jobs and development in AP.
