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Andhra Pradesh seeks greater investment from South Korea

THE state government of Andhra Pradesh and Make in India Korea Centre (MIC) have signed a memorandum of understanding (MoU) to establish a Korea Industrial Complex in the state.

According to the MoU, the Andhra Pradesh Centre will be set up at Busan in South Korea.

The MIC will also conduct outreach programmes in Korea for the promotion of investment and business in Andhra Pradesh, reported The Hindu.

Chief Minister N Chandrababu Naidu attended a business seminar during a rcent visit to Busan. Addressing the gathering, Mr Naidu said Andhra Pradesh was ahead of other states in the creation of infrastructure, and he emphasised that an investor-friendly atmosphere prevails.

Andhra Pradesh unveiled the best industrial policy and was offering best packages to the investors. Some of the automobile giants that have a presence in Andhra Pradesh are Isuzu, Hero, Bharat Benz and Kia Motors.

"To know more about efficiency, you can talk to Kia Motors," Mr Naidu was quoted as saying. "Come up with a project proposal and invest in our state," he added.

At another meeting, Busan Mayor Suh Byungsoo said Andhra Pradesh and Busan can establish a sister state relationship.

Mr Naidu requested the Busan Mayor visit Andhra Pradesh as a state guest, as he is keen to work with Busan.

Busan Vice Mayor Kim Young Wan and Mr Naidu discussed the prospects of mutual cooperation between the fisheries university of Andhra Pradesh and Pukyoung national university of Korea.

Mr Naidu and his delegation also visited Busan new port, the Busan-Jinhae Free Economic Zone (BJFEZ), Busan-Jinhae FEZ and Nok-san National Industrial Complex, and New Indian Cultural Centre - Make in India Centre, Busan.