Andhra Pradesh Woos Industrialists From South Korea

Chief Minister of Andhra Pradesh, N Chandrababu Naidu on Thursday invited industrialists from South Korea to set up their ventures in the state’s new capital Amravati or any other place in the state. With the intent to develop a South Korea like city in AP, he assured them that the government will extend full support and cooperation if they make AP their second capital and set up industries in a big way. Naidu told the team of visiting South Korean delegation that the government is ready to sign MoUs if they come up with comprehensive proposals and designs. South Korean automobile giant Kia Motors, will soon set up its car manufacturing unit in Anantapuramu district. Showcasing it as the mascot, Naidu invites other industrialists from the East Asian nation to the state. Naidu asserted that there would be immense opportunities for all even if all the 3,000 South Korean companies would come there. He said that both countries share similarities in size and population and are blessed with a vast coastline as well as rich natural resources. He expressed his interest to collaborate with South Korea, assuring them that land, water, uninterrupted electricity and other incentives would be offered to them. Later, a statement from the CMO revealed that the visiting delegation proposed to bring in at least 30 companies in sectors like electric steel, logistics, automobile components, heavy equipment manufacturing, ship-building, liquors, medical and marine equipment.