New Delhi, Oct 24 (KNN) Eyeing to develop Visakhapatnam as an innovative valley, Andhra Pradesh Chief Minister N Chandrababu Naidu urged global investors to establish their units in Visakhapatnam Fintech Valley which he claimed would become one of the top three fintech centres in the world.

Speaking after inaugurating the Vizag Fintech Festival, he said “Visakhapatnam would be developed as an innovation valley, Amaravati as a knowledge economy hub and Tirupati as a hardware and electronic hub.”

He said both the government and private sector should work together for the advantage of the common man.

Inviting global industrialists to invest in the state, the chief minister said the government has big data of all domains and there is wide scope for experimentation.

Also to improve delivery mechanism to increase satisfaction, he added that the state government has been adopting total integration of technology.

Emphasizing on innovation, Minister said that the government wanted to bring revolution in innovation for the betterment of the society.

"Innovation is a continuous process and the state government would adopt all new innovative ideas provided by IT companies for betterment of the society," he added.

He also informed that the government launched the e-pragati platform to provide good governance.

He said "Visible governance and invisible government is our motto and our ultimate objective is to make all government transactions online and integrate the data to provide the best possible governance.”

While interacting with several industrialists, Minister for IT Nara Lokesh said industries play a key role in the growth of Andhra Pradesh.

Started in 2016, Fintech is one of the government's initiatives and Fintech Valley had attracted world class companies in the last two years.

Several companies signed MoUs at the inaugural of the Fintech Festival with the Andhra government to launch operations in the state.