Andhra CM seeks investments, announces Visakhapatnam as new capital

Jagan Reddy invites companies, diplomats to a two-day summit in Visakhapatnam in March

Global investors must come to Andhra Pradesh for its business-friendly rules and logistics, said Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Tuesday as he announced Visakhapatnam as the state’s new capital.

“Andhra Pradesh is an exciting geography—the fastest growing state with 11.43 per cent growth rate, with unparalleled offerings in terms of ease of doing business, where we have been consistently ranked first for three consecutive years in terms of stakeholder feedback, with a 974 km coastline, the state has a competitive logistics advantage of access to six ports, and there are four more that are coming