Hyderabad: Andhra Pradesh on Friday signed a slew of MoUs with Japan's Ministry of Economy, Trade and Industry (METI) and other Government agencies for promoting industrial development in the southern state.
The MoUs were inked during the the fifth day of Chief Minister N Chandrababu Naidu's visit to Japan.
Naidu, who has already met senior officials of companies like Isuzu, had meetings with representatives of leading Japanese firms such as Hitachi, Sumitomo Mitsui Banking Corporation (SMBC) and Iseki today.
"METI (Ministry of Economy, Trade and Industry of Japan) and relevant Governmental organisations will promote direct investment by Japanese companies to Andhra Pradesh in various fields such as urban development, infrastructure, manufacturing, agriculture, food processing and IT," Naidu's office here said, quoting from the MoU with METI.
The development of Japanese industrial parks in Andhra Pradesh is also to be supported by METI and relevant Governmental organisations, a statement from the Chief Minister's Office (CMO) here said.
The AP Government has assured it will improve business environment for Japanese companies and industrial parks by facilitating prompt land acquisition, providing adequate infrastructure and incentives.
As per the MoU with New Energy and Industrial Technology Development Organisation (NEDO), the AP Government and NEDO would explore opportunities for collaboration in development of smart cities and energy-related areas.
An MoU was signed between Kobe Steel Group and Kobelco Cranes (of Japan) and Sri City (a SEZ located along AP and Tamil Nadu border).
During a meeting with Akira Shimizu, Vice-President, Hitachi, Naidu offered to set up a "Japan Desk" with Japanese- speaking officials in the CMO to expedite clearances.
The Hitachi official was quoted as saying in the statement that land acquisition and taxation are two challenges Japanese firms face in India.
Naidu said Prime Minister Narendra Modi is working on taxation issues. "We want you to come to Andhra Pradesh with an open mind. I request you to put all your apprehensions about India to rest. We are different now," he said.
Naidu was given a presentation on smart cities by Hitachi smart city project in-charge Akihiko Tobe. The Chief Minister informed Tobe that Singapore is helping AP in building a new capital city.