Hitachi evinces interest in developing Andhra ports

Hyderabad: Japanese multinational conglomerate Hitachi has shown interest in developing ports in Andhra Pradesh.

Xompany officials told Chief Minister N. Chandrababu Naidu during a meeting in Tokyo Friday that they want good connectivity and incentives.

Hitachi vice president Akira Shimizu said that land acquisition and taxation are the two challenges faced by Japanese firms in India.

Naidu said Prime Minister Narendra Modi is working on taxation issues. "We want you to come to Andhra Pradesh with an open mind. I request you to put all your apprehensions about India to rest. We are different now," he said.

Naidu assured him that that a "Japan desk" with Japanese-speaking officials would be set up in the Chief Minister's Office to expedite clearances.

Hitachi smart city project in-charge Akihiko Tobe gave a presentation on smart cities.

Naidu informed Tobe that Singapore is helping Andhra Pradesh in building the capital city.

He invited Hitachi too to be part of building the city. He also requested Hitachi to study the plan and set up an office there.

The state government signed a Memorandum of Understanding (MoU) with the ministry of economy, trade and industry of Japan (METI) to promote direct investment by Japanese companies in the state in fields such as urban development, infrastructure, manufacturing, agriculture, food processing and information technology.

It welcomed the launch of working group for the facilitation of investment from Japan to the state. The group consists of the state government, embassy of Japan, New Energy and Industrial Technology Development Organization (NEDO), Japan Bank for International Cooperation, Japan External Trade Organization and Japan International Cooperation Agency.

The METI and governmental organisations will also support the development of Japanese industrial parks in Andhra Pradesh.

The state government also signed an MoU with the NEDO, under which they will explore opportunities for cooperation and collaboration on matters of common interest.

During a meeting with Yoshiyuki Toyoda, managing director, senior corporate officer and division manager of overseas sales division, ISEKI and Co., Naidu urged him to take the first move and invest in Andhra Pradesh.

"We want to improve our agriculture productivity and reach to the international standards. Our farmers are good at adapting new technologies," Naidu said.

On the fifth day of his visit to Japan, Naidu also met Fumio Hoshi, senior advisor of Sumitomo Mitsui Banking Corporation (SMBC), which is willing act as a bridge between Japanese companies and Andhra Pradesh.

He said many Japanese companies have the technologies for developing smart cities.

The chief minister stated that his state has an advantage of deep water ports which can make the state a gateway to south-east Asia.

Naidu requested to the SMBC to advise him on the structure of financial inflows into Andhra Pradesh.