Japan State Minister of Economy, Trade and Industry (METI) Yosuke Takagi and Andhra Pradesh Chief Minister N. Chandrababu Naidu signed a Memorandum of Cooperation (MoC) on development of new capital city of Andhra Pradesh and industry cooperation on October 22, 2015.
Memorandum of Co-operation
Few of the deals under Memorandum of Co-operation (MoC) between Andhra Pradesh and Japan include:
- The promotion of investments by Japanese companies in the Andhra Pradesh
- Andhra Pradesh Investment Task Force (APITF) will be set up in Japan for accelerating industrial development in Andhra Pradesh
- Andhra Pradesh requested to extend technical assistance for developing a masterplan on such strategic sectors as transportation infrastructure in the new capital area.
- Other Japanese multilateral funding agencies will help Andhra Pradesh State Government in development of seaports, food value chains, ultra-supercritical coal-fired power plants, renewable energy projects and smart cities.
AP-Japan Memorandum of Understanding (MoU)
• It was signed between Andhra Pradesh Finance department and Japan Bank for International Cooperation (JBIC).
• Its focus is on inviting foreign investments and developing the state’s new capital city and the surrounding region.
This is interesting to note that Japan Ministries of Land, Infrastructure, Transport and Tourism, Agriculture, Forestry and Fisheries, Japan Bank for International Cooperation (JBIC), Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA) and New Energy and Industrial Technology Development Organization (NEDO) have partnered with the Japan State Ministry of Economy, Trade and Industry (METI).