Andhra Pradesh signs MoU with South Korea and welcomes the investors

NewsBharati    06-Dec-2017
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Hyderabad, December 6: State of Andhra Pradesh has rolled out red carpets for South Korean Investors. The State government and Make in India Korea Center (MIC) signed a Memorandum of Understanding (MoU) to set up Korea Industrial Complex in the State.

This is the result of Chief Minister N. Chandrababu Naidu’s three-day Korea tour where he wooed industrialists to come and invest in Andhra Pradesh. As per the MoU, the Andhra Pradesh Centre will be established at Busan in South Korea. The MIC will also conduct outreach programmes in Korea for the promotion of investment and business in AP.

CM Naidu held meetings with a host of Korean industrialists and told them that AP would like to make rapid strides, inspired by South Korea's success in manufacturing and technology. Explaining what all his government had been doing to propel growth and prosperity in the sunrise state, CM Naidu made a strong pitch for Korean investments in different sectors like automobiles, power, textiles, food processing, electronics, etc, an official release issued at seoul said.

 

AP unveiled the best industrial policy and was offering best packages to the investors. Isuzu, Hero, Bharat Benz and Kia Motors were a few automobile giants that have footprints in AP.

A Korean township would soon be developed in the state, he said. Naidu requested Hwang Chul-joo, CEO of Jusung Engineering that has 3.5 GW of solar power plants in different states of India, to set up a research and development facility in AP.