AP to be top investment destination: Naidu

The chief minister, N Chandrababu Naidu, today said that Andhra Pradesh would soon become the top investment destination in the country.

Addressing a network luncheon meeting at the Partnership Summit with AP as the focus, the chief minister said that AP had already taken lead over other states in implementing second generation reforms which were initiated in 1996.

"Economic reforms are only a starting point. All-round reforms, including key labour and administrative reforms, are a must for achieving growth rates that were prescribed in the Vision-2020 document.

He said that reforms would not only help eradicate poverty but also create competition to improve efficiency levels on all fronts. "India is basically a rich country but made poor by the poverty of thinking," he said. Naidu informed that the greenfield international airport project which was expected to be completed in another three and half years near here would make Hyderabad a transit point between Europe and Asia.

Addressing the meeting, Saud bin Saqr Al Qasimi, the crown prince of Ras Al-Khaimah said that, RAK Ceramics did not think twice about bringing investments to AP as the state had already proved itself the as preferred investment destination in the IT front.

Praising the vision and commitment of the political leadership of the state he said that AP and Al-Khaimah are moving in the same direction as far as creating investor-friendly environment was concerned.

The state government had set out on forging new public-private partnerships, KV Rao, the principal secretary (industries), said. He informed the various policy initiatives being undertaken by the state government.