The Andhra Pradesh government, led by Chief Minister Chandrababu Naidu and IT Minister Nara Lokesh, has sent a high-profile delegation to the World Economic Forum (WEF) in Davos, Switzerland, marking a significant move towards bolstering the state’s economic landscape.
During the trip, Lokesh emphasized the importance of representation at the WEF, calling it a crucial step in rebuilding Andhra Pradesh’s global image. He highlighted that potential investors often express concerns about the political stability in the state, particularly regarding the possibility of Y. S. Jagan Mohan Reddy returning as Chief Minister. Lokesh noted that this fear of political uncertainty has been a major obstacle in attracting investments. He stressed that the new government must showcase stability and perseverance at a global level, and attending forums like Davos is key to sending that message.
Lokesh expressed confidence that the WEF trip would open the door for substantial investments into Andhra Pradesh. He believes that with the backing of Chandrababu Naidu’s leadership, the state can reassure the global community of its economic stability and growth prospects.
In addition, the government has strategically appointed Sarin Paraparakath, a senior executive formerly with Tamil Nadu, as the Senior Vice President of the newly formed Economic Development Board. This appointment is expected to enhance Andhra Pradesh’s appeal to international investors, especially with the expert leadership at such high-level global events.
Lokesh is also set to meet representatives from over 50 companies during the five-day event in Davos, furthering efforts to bring new investments to the state. This follows his successful trip to the U.S., where he persuaded Google to consider Vizag for its future projects.
Overall, the WEF trip is seen as a pivotal moment for Andhra Pradesh’s economic future, with the potential to attract significant global investments and solidify the state’s position on the international business map.
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