Visakhapatnam is becoming the Administrative Capital of Andhra Pradesh. This means, the port city will become the Main Capital of AP. But still no multi-national company is showing interest to put their investments there. Latest news is that Karnataka Chief Minister Yeddiyurappa has announced that the Dubai-based Lulu Group is setting up its Rs. 2,200-Cr World Class Convention Centre cum 5 Star Hotel in Bangalore City. For this, the BJP government there signed an agreement at Davos World Economic Forum already.
There is a growing feeling that the anti-industry decisions of Jagan Reddy Circar are scaring away investors from AP. Rumour is that the multi-crore accessories industries for Kia Motors in Anantapur district are also going away to the neighbouring states. Till now, in the last eight months, the ruling YCP has not brought one single major industry that will create thousands of jobs under one roof.
Even in Vizag, there are fears of largescale land scams going on ever since YCP announced it as the Executive Capital. Common public is also worried there as already cost of living is very high in the port city.
