AP Economic Dev Board signs pact with Japanese bank MUFG to boost investments

Amaravati, Nov 30 (KNN) With the aim to enhance investments in Andhra Pradesh by companies from Japan and East-Asian countries, the Andhra Pradesh Economic Development Board (APEDB) on Tuesday inked an agreement with Mitsubishi UFJ Financial Group Bank (MUFG Bank).

As per a release, the MoU was signed by APEDB Chief Executive Officer and Department of Industries Commissioner G. Srijana and MUFG India Head Kenichiro Kawase in the presence of Kazuyoshi Shibatani, Managing Director and India Head of Planning & Strategy (Japanese Corporate).

The primary of this agreement is to establish a partnership between MUFG and APEDB across investment promotion, banking and financial inclusion.

Addressing the occasion, Srijana said, Andhra Pradesh is consistently being ranked as number 1 in Ease-of- Doing Business and the state is gradually emerging as an ideal destination for foreign investments.

“With the presence of more than 25 Japanese companies at the Japanese Industrial Township in the State, Japan has been one of the top investors,” she said, and added that A.P. was looking forward to conducting a roadshow in Japan in the light of the Global Investors Summit-2023, which was to be held on 3rd and 4th of March, 2023.

“India continued to be a key market for MUFG’s network, and the bank’s association with APEDB will provide a wide range of opportunities for the Japanese companies investing in Andhra Pradesh,” Shibatani said.

APEDB vice-president Prasad Savarapu and others representing MUFB Bank and APEDB were present on the occasion.  (KNN Bureau)