Amaravati: Chief Minister Nara Chandrababu Naidu has directed officials to fast-track implementation of investment agreements signed at last month’s CII Partnership Summit in Visakhapatnam, instructing that over half of the MoUs must enter the approval stage immediately and that foundation stones be laid within 45 days. The directives were issued at the 13th meeting of the State Investment Promotion Board (SIPB) held at the Secretariat on Thursday. The board cleared proposals for new projects worth Rs 20,444 crore that are expected to generate 56,278 jobs. MoUs of six companies that took part in the Visakhapatnam Partnership Summit were among those approved.

Reviewing the summit outcomes, Naidu said the pace of approvals reflects renewed investor confidence in the state’s “speed of doing business” regime. “We are providing water, power, and land without procedural hurdles. Transparency is the reason companies are choosing Andhra Pradesh,” he said, adding that the state had worked to reverse the “negative international perception” created by the previous administration’s handling of the Singapore-linked projects.

Naidu said MoUs worth Rs 7.69 lakh crore, signed barely 20 days ago, were already moving toward implementation. Locations for major projects and land allocations have been identified across districts, he said, urging officials to complete registration of pending MoUs at the earliest. “All MoUs must be grounded within 45 days. If we show rapid progress before Davos, more investors will follow,” he said.

The Chief Minister directed that groundwork for 75 MSME parks be completed before the World Economic Forum meeting and ordered weekly reviews by the Chief Secretary. A new policy on grounding industries will be finalised and placed before the Cabinet, supported by a monitoring mechanism involving the Chief Minister, Cabinet Sub-Committee and senior officials.

Naidu emphasised that land acquisition must proceed without disputes, ensuring “equal satisfaction” for both landowners and recipients. He also called for stronger technological capability within government departments, aligning with the state’s goal of transitioning to a knowledge-driven economy.

The Chief Minister announced plans for a Logistics University, Green Energy University as well as Civil Aviation University and instructed officials to constitute an advisory board for the proposed Quantum Valley cluster. Of the six planned quantum towers, two will focus on algorithm development and two on artificial intelligence. Schools in AP will begin teaching basic AI concepts from 7th class, with support from companies such as Microsoft and Google.

To scale tourism, Naidu approved the allocation of 50 acres in Kapuluppada, Visakhapatnam, for hotels and convention centres, with incentives to be structured under large, mega, and ultra-mega project categories.

The Chief Minister proposed creating a Rs 500-crore sovereign fund, like in Dubai and the UAE, enabling public-sector enterprises to invest across strategic sectors. He highlighted the goal of expanding the livestock industry to Rs 8 lakh crore, developing nine horticulture hubs, and accelerating connectivity to support export-led agriculture.

In the meeting, IT and HRD minister Nara Lokesh said approvals must follow rigorous due diligence but should avoid unnecessary delays for investors.

Across 13 meetings, the state has cleared investments proposals worth Rs 8.29 lakh crore, targeting 7.62 lakh jobs. The latest approvals include Mass Fabric Park (Rs 200 crore; 35,000 jobs), Chinta Energy (Rs 8,500 crore; 5,800 jobs), Reliance Consumer Products (Rs 1,622 crore; 1,200 jobs), and Virupaksha Organics (Rs 1,225 crore; 1,500 jobs), along with several technology, renewable energy, hospitality, and pharmaceutical firms.