The Andhra Pradesh Chief Minister Nara Chandrababu Naidu exchanged 49 MoUs (Memorandum of Understanding) in the Tourism sector on the first day of the 3-day CII Partnership Summit 2018 in Vishakhapatnam. The total value of these 49 MoUs stands at Rs 8,000 crores according to official sources.
The sources have confirmed that these MoUs will result in creating 32,000 direct jobs in the state of Andhra Pradesh. The AP Government is aiming at an investment of nearly Rs 3 Lakh crores during this 3-day CII Partnership Summit.
AP Tourism Minister Bhuma Akhila Priya was present during the exchange of MoUs between the Companies representatives and the Chief Minister, along with other officials.
It will interesting to see how far these MoUs will materialize into actual projects. According to insider sources, it would at least take 3-4 years for the projects to move from the proposal stage to complete functioning state.
Parallely, a company is not entitled to establish its unit in the state because it signed a MoU. The MoU agreement is just a formal proposal for the paperwork to proceed. With Bhuma Akhila Priya’s alleged intervention in the events that led to Ongole Boat accident, clearly casts dark clouds on the implementation of the proposed projects.
