Visakhapatnam, Vizianagram are likely to attract incremental investment in Seemandhra.

The Associated Chambers of Commerce and Industry of India (Assocham ) said its members in Andhra Pradesh and other adjoining south Indian states feel that after the state’s bifurcation the coastal cities of Visakhapatnam, Vizianagram are likely to attract incremental investment in Seemandhra (Andhra and Rayalaseema regions) while Hyderabad will continue to retain its appeal as the global hub for business activities.

“We only hope that the political turmoil over the Telangana issue is over and the two new states will flourish even more after the creation of Telangana. The special package and status to Seemandhra will make it an attractive centre of industrial investment.

“The locational advantages of Visakhapatnam being an important port city along with a well laid-out railway network will make the area a very attractive business proposition since the new investment will be eligible for a tax holiday,” Assocham president, Rana Kapoor, stated in a press release on Friday.

He said special efforts should also be made to pump in development funds in the Rayalseema region, which remained a backward area whereas coastal Andhra is blessed with agricultural prosperity and natural advantage of rivers.

According to Kapoor, the new government should place special emphasis on development of the backward areas throughout the country, be it naxal-affected eastern India or some areas in southern and northern India, which have not been able to keep pace with the rest of the country.

source: http://www.business-standard.com / Business Standard / Home> Current Affairs> National / by BS Reporter / Hyderabad – February 21st, 2014