AP government and METI signed MoU to promote FDI in AP
The AP government signed a MoU with the Ministry of Economy, Trade and Industry of Japan (METI) to develop Andhra Pradesh.
The Andhra Pradesh (AP) government on 28 November 2014 signed a memorandum of understanding (MoU) with the Ministry of Economy, Trade and Industry of Japan (METI) to promote Foreign Direct Investment (FDI) in Andhra Pradesh. The MoU was signed during AP chief minister, Chandrababu Naidu visit to Japan.
Under the MoU, METI and relevant governmental organisations will promote direct investment by Japanese companies to AP in various fields such as urban development, infrastructure, manufacturing, agriculture, and food processing and information technology.
METI also supports the development of Japanese industrial parks in AP where as AP government will support Japanese companies’ participation in significant projects in AP state.
AP government also signed a MoU with the New Energy Industrial Technology Development Organisation (NEDO) of Japan. The MoU will envisage sharing of information and exchange of opinion between NEDO and AP besides identifying the possibilities of future collaborative activities in the area of smart community.