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AP ideal investment destination: CM

Written by: Staff

Hyderabad, May 5 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today said the state, by hosting the prestigious ADB meet, had successfully itself as an ideal investment destination.

'The Centre tied up Andhra Pradesh with World Bank for external borrowings, while other states had a similar arrangement with other International Financial Institutions, including ADB', ''he told media at the airport soon after seeing off Prime Minister Manmohan Singh.

The state had showcased investment opportunities effectively during the 'India Advantage Day' yesterday, he added.

Dr Reddy said he concurred with Dr Singh's view that India needs to look at China as a model for rapid development'. The view that growth should be all inclusive was shared by ADB President Haruhiko Kuroda as well as Union Finance Minister P Chidambaram, he added.

Denying any information about the auto major Volkeswagen thinking of setting up its car unit in some other state, he said, 'I too saw reports in a section of the press. No official communication has been received from the company. I will react at an appropriate time'.


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