Andhra Pradesh CM Naidu in China to scout for funds for new capitalhttps://indianexpress.com/article/india/india-others/andhra-pradesh-cm-naidu-in-china-to-scout-for-funds-for-new-capital/

Andhra Pradesh CM Naidu in China to scout for funds for new capital

Besides Beijing, Naidu will be visiting Chengdu and Shanghai where he will be addressing similar meetings.

N Chandrababu Naidu, China trip, china investment in AP, business, energy and manufacturing sectors, express business, business news
The meeting will provide information to Chinese enterprises about upcoming investment and business opportunities in Andhra Pradesh. (Source: Express archives)

Andhra Pradesh Chief Minister N Chandrababu Naidu arrived in Beijing on Sunday along with a big business delegation on a week long visit to China to scout for Chinese investments to rebuild his state after the separation of Telangana.

Naidu who is visiting at the invitation of the ruling Communist Party of China (CPC) International Department will address a series of meetings of business and investors to highlight the scope of investment opportunities in his state.

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Besides meeting the CPC officials, Naidu will address a meeting here on “Investment Opportunities in Andhra Pradesh” to be attended by state and major private investors in China.

He would also be meeting the top officials of Foxcon, a Taiwanese owned electronic firm which manufactures a host of items for companies like Apple, Samsung, Dell as well as Xiaomi, the Chinese phone maker whose cheap smartphones took India by storm.

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Officials of the Indian Embassy who are organising Naidu’s visit said that the focus of his meetings will be building a new capital city as well as launching other large-scale development projects in the state.

The specific areas of business interest of his delegation are road construction, renewable energy, metro and railway, auto and auto components, heavy machinery and equipment, IT and electronics, white goods, pharmaceuticals, textiles, solid waste management, vocational training and education, they said.

The meeting will provide information to Chinese enterprises about upcoming investment and business opportunities in Andhra Pradesh.

It will also offer a platform for interaction with the top government and business leadership of Andhra Pradesh.

Besides Beijing, Naidu will be visiting Chengdu and Shanghai where he will be addressing similar meetings.

He has already visited Japan and Singapore to get foreign direct investment from those countries.

Officials said Naidu’s visit is similar to that Prime Minister Narendra Modi who made several visits to China when he was the Chief Minister of Gujarat to study the Chinese model of development as well as to get Chinese investments.

Gujarat has the highest number of Chinese industrial investments in India.

Modi is expected to make his first visit to China as Prime Minister, next month.

AP govt to sign 13 pacts with Chinese firms

Andhra Pradesh Chief Minister N Chandrababu Naidu, who is leading a state delegation to China, will sign 13 MoUs with various Chinese companies during the 6-day tour of the neighbouring country beginning on Sunday.

In the first leg of the visit to Beijing, the delegation will sign six government-to-business (G2B) MoUs.

The government will sign an MoU with Camel Group Company Ltd engaged in the research and development, manufacture, distribution and recycling of storage batteries.

Another Memorandum of Understanding will be signed with industry body China Council for the Promotion of International Trade (CCPIT). Another MoU with CCPIT pertains to the construction sector.

Following Guizhou International Investment Corporation delegates’ visit to Visakhapatnam in November last year, the AP government will ink an MoU with the Corporation, an official release said here today.

The state will also sign an MoU with Sinoma International Engineering Company Ltd which operates in equipment manufacturing, supply and engineering sector.

Another pact will be inked with New Hope Liuhe Company Limited. The firm engages in integration of farming industry operations, such as feed production, livestock breeding and slaughtering, and meat processing.

Under the business-to-business (B2B) segment, AP will sign two key MoUs with Chinese industries in Beijing.

Vertex Cements (India) and Sinoma will also sign an MoU. Vertex Cements has already come forward to set up its cement unit at Gangavaram in Guntur district.

Leading apparels manufacturer Brandix and Chinese professional manufacturer and exporter of blankets Jiangsu Kingday Textile Company Ltd will sign a pact in Beijing.

At their second destination Chengdu, the state government will sign three MoUs with the Chinese companies.

The government will ink pact with Sichuan Chuanyi Automation Company Ltd, an industry in supply, erection, commission of automated instrumentation for industrial uses.

It will also sign a pact with real estate company Panzhihua Guanghua Group Real Estate Development Ltd and with Sichuan Vehiline Information Technology Company Ltd.

Energy sector firm VSF Energy will sign a pact with China Western Power Industrial Company Ltd. The Chinese company is the base of research and development, manufacture and export in China for large-scale power plant boiler, special-type boiler and power station auxiliary equipment.

During the last leg of the delegation’s tour in Shanghai, (under business-to-business segment), GMR will sign a pact with Chinese toy-maker Pals Plush. The play store giant will set up its only overseas operations at Sri City Special Economic zone in Andhra Pradesh’s Chittoor district.

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During the trip, the delegation led by Naidu will also meet a number of industrialists, investors and businessmen inviting them to explore the investment opportunities in the state, the release added.