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Japanese companies keen on investing in AP
In Short
- Keiichi Ono arrives in Visakhapatnam to participate in the CII Partnership Summit
- The Japanese Ambassador says that several Japanese companies were already operating at Sri City
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Chief Minister N Chandrababu Naidu holding discussions with Japanese Ambassador to India Keiichi Ono, among others, in Visakhapatnam on Wednesday
Visakhapatnam: Japanese companies are keen on investing in Andhra Pradesh and Japan is ready to establish an industrial cluster in the state, Japanese Ambassador to India Keiichi Ono has said. Keiichi Ono, who arrived in Visakhapatnam to participate in the CII Partnership Summit, met Chief Minister N Chandrababu Naidu and discussed various aspects concerning industrial investments, skill development, infrastructure, critical mineral supply chains and green energy. The Japanese Ambassador pointed out that several Japanese companies were already operating at Sri City. He also brought various issues raised by Japanese industrial groups and the Japanese community in the region to the Chief Minister’s attention.
He informed the Chief Minister that companies such as Marubeni Corporation, Sumitomo and Mitsui Group had expressed interest in establishing a second Japanese Industrial Cluster in Andhra Pradesh as part of the 20 sector-specific industrial parks planned by the state government. Chandrababu Naidu explained that the government is creating an industry-friendly ecosystem to attract investments into Andhra Pradesh. He mentioned that the state had introduced an escrow account mechanism to ensure greater transparency and reliability in the disbursement of incentives to industries.
The Chief Minister urged Japanese companies to extend their cooperation in developing a skilled workforce to meet industry requirements.
He stated that if young people were provided with training tailored to the needs of Japanese companies, the state could supply highly-skilled human resources.
Responding positively to the appeal, the Japanese delegation expressed its willingness to provide skill development training to employees working in industries across Andhra Pradesh.
The Chief Minister also invited leading Japanese automobile and heavy machinery manufacturers, including Suzuki, Honda, Komatsu, Kawasaki and Yamaha, to explore investment opportunities in Andhra Pradesh as part of their business expansion plans.
Leveraging the expertise and talent of Indian professionals, the Japanese representatives further informed the Chief Minister that a new Global Capability Centre (GCC) had been launched in Visakhapatnam this year through India-Japan collaboration. The meeting also included discussion on a preliminary agreement between Japan-based JERA and AM Green for the procurement of approximately 70,000 tonnes of green ammonia annually for five years. The discussions highlighted the growing cooperation between India and Japan in the green energy sector.
