AP woos investments

Hyderabad, Feb 22 (UNI) The Andhra Pradesh Government was determined to provide one lakh industry-related jobs in the coming three years.

It would continue its efforts to project Andhra Pradesh as the most convenient and favourable investment destination for domestic and international investors and accordingly, several initiatives had been taken up, Chief Minister Dr Y S Rajasekhara Reddy said today.

The Chief Minister stated this while interacting with 33 PG students of Journalism and Communication, University of Pune in his chambers in Secretariat this afternoon.

Answering a volley of queries, he said the new industrial investment promotion policy 2005-10 had been evolved, to encourage flow of investments into the state and strengthen entrepreneurial skills of youth. Up to December 2005, 982 small scale industries had been started with an investment of Rs.175.49 crore providing employment to 12,390 people, an official release said.

The MoU signed with Brandix Sri Lanka, a textile manufacturing company, would provide 60,000 jobs in coming years. The proposed Fab city was also promising.

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