AP signs MoU with Japan’s Ministry of Economy, Trade & Industry

•     Naidu invites Japanese PM Shinzo Abe to visit AP State
•     He explains Modi govt’s tax reforms to woo investors
•     Says he will set up a special desk to help Japanese cos
•     Assures land, speedy clearances within specified time
•     Hitachi informs him of its readiness to develop sea ports

Hyderabad: Japan on Friday pledged co-operation to Andhra Pradesh in building a world-class capital city. Chief Minister N Chandrababu Naidu met Japanese Prime Minister Shinzo Abe in Tokyo to seek his country’s expertise.

The Japanese Prime Minister noted that Prime Minister Narendra Modi and Chandrababu Naidu visited the country in a short span of time, seeking its cooperation for building smart cities and in improving bilateral ties. On the occasion, Naidu invited Abe to APas part of his visit to India in January and handed over Tirupati ‘Prasadam’ and also presented a memento to him.

On the fifth day of his visit to Japan, Naidu met senior officials of Sumitomo Mitsui Banking Corporation (SMBC) which said it can act as a bridge between Japanese companies and Andhra Pradesh. The Chief Minister asked SMBC to advise him on the structure of financial inflows into Andhra Pradesh. “We will set up an office to clear Japanese investments. This will have an escort officer who will ensure that companies get faster clearances,” he said.

Expressing strong intention to develop ports in Andhra Pradesh, vice-president Hitachi Akira Shimizu sought Chandrababu Naidu’s help in providing incentives and connectivity.

Hitachi smart city project in-charge Akihiko Tobe gave a presentation on smart cities. Naidu informed Tobe that Singapore was also helping Andhra Pradesh in building the capital city. He invited Hitachi too to be part of it and requested Hitachi to study the plan and set up an office there.

Meanwhile, the State government signed a Memorandum of Understanding (MoU) with the Ministry of Economy, Trade and Industry of Japan (METI) to promote direct investment by Japanese companies in the State in fields such as urban development, infrastructure, manufacturing, agriculture, food processing and information technology. The METI and other Japanese governmental organisations will also support the development of industrial parks in Andhra Pradesh.

It welcomed the launch of a working group for the facilitation of investment from Japan to the State. The group consists of the State government, embassy of Japan, New Energy and Industrial Technology Development Organization (NEDO), Japan Bank for International Cooperation, Japan External Trade Organisation and Japan International Cooperation Agency.

The AP government signed an MoU with the NEDO. During a meeting with Yoshiyuki Toyoda, managing director, ISEKI and Co., Naidu urged him to take the first move and invest in Andhra Pradesh.

Source: THI