APEDB wins Skoch Gold for investment Promotion & Facilitation
The Andhra Pradesh Economic development Board (APEDB), Government of Andhra Pradesh (www.apedb.gov.in), won the Gold Award for being the best organization in India, for Investment Promotion & Project Facilitation, at the 55th Skoch Summit held in New Delhi. The Skoch Awards celebrate human excellence and agents of change in the Indian society. Since 2003, the Skoch Awards have been the only independent benchmark of best practices in India in the fields of governance, finance, banking, corporate citizenship, economics and inclusive growth.
This award was received by APEDB and was presented before the Chief Minister of Andhra Pradesh by Mr. J Krishna Kishore, CEO, APEDB & Ms. Bhavna Saxena, Special Commissioner, APEDB on 27/12/2018.
The Andhra Pradesh Economic Development Board (APEDB), has been formed in 2016, under the Chairmanship of Mr. N. Chandrababu Naidu, Chief Minister of Andhra Pradesh, taking into account the experience of premier economic development institutions across the world including the Singapore Economic Development Board, Bahrain Economic Development Board and the Rwanda Economic Development board, besides other reputed organizations. APEDB is entrusted with the task of promotion of the economic growth of the state, through sustained accelerated investment ecosystem, policy initiatives and other measures. Besides acting as the single point of contact for investments both national and international,, APEDB acts as interface for all discussions with international trade, industry and diplomatic missions,
The Andhra Pradesh Economic Development Board won the Gold Award, for contributing towards economic growth and employment generation and establishing a globally competitive investment climate, capable of quickly responding to fast changing global economic and technological scenario.
The jury commended the APEDB on contributing towards a predictable and pragmatic policy regime, acting as a nodal agency for engaging with foreign governments, embassies, multilateral & bilateral agencies and trade associations and for providing a sustained and dynamic feedback to executing departments and ministries. The Andhra Pradesh Economic Development Board’s contribution towards economic growth and employment generation and establishing a globally competitive investment climate in the state, capable of quickly responding to fast changing global economic and technological scenario, was acknowledged.
The APEDB has contributed towards 6 policy recommendations of the State Government viz. Electric Mobility Policy, Textile Policy, Industrial Parks Policy, Logistics policy, Gaming and animation policy and helped the Government notify the Direct Selling Guidelines.
The APEDB has spearheaded over 86 Inbound international delegations and 111 Outbound delegations, within just 3 years of its establishment. The External Engagement Division has elevated the status of partnership with organizations from various countries including South Korea, UK, Japan, China, Europe, United States, Singapore, Malaysia and Russia.
The APEDB has a clearly defined mandate, responsible for attracting investments into the state and acting as a single point of contact for trade and investments on behalf of the State Government. Over 25 billion USD of committed investments from marquee companies are in the pipeline, due the efforts of APEDB.
The board is responsible for marquee investments like Kia Motors, Asia Pulp and Paper, Saint Gobain, THK, Toray, Lixil, Arvind Mills and Rockman Industries.
The APEDB is also entrusted with the task of planning and executing high level international delegations led by the Hon’ble Chief Minister of Andhra Pradesh and has organized 17 such international delegations so far, including the high-level delegations to the Annual Meetings of the World Economic Forum at Davos, Switzerland, USA, Russia, Korea, Kazakhstan, Singapore, China, UAE , UK etc.
The APEDB and the World Economic Forum have also collaborated recently on a study titled 'Accelerating Sustainable Production', concluding a USD 5 billion opportunity in the automotive and electronics industries in Andhra Pradesh. The APEDB is an associate member with the World Economic Forum and the only State level organization in India, admitted to the membership.
The APEDB has created a pro-growth, pro-investment ecosystem in Andhra Pradesh, by effective coordination across various ministries, departments and institutions.
J. Krishna Kishore, Chief Executive Office, Andhra Pradesh Economic Development Board said that "Created by an Act of the State Legislature, the APEDB is unique in design, structure and thinking and owes its remarkable success to the independent and holistic mandate given by the Government. Chaired and guided by the Chief Minister of Andhra Pradesh, the Board is flexible and efficient with a future-ready dynamic talent pool. This has resulted in the immense contribution by APEDB to the development of Andhra Pradesh."
"This award is a testimony to the confidence among investors that the institution dealing with them is adequately empowered in determining the nature of support the government can provide for their investments. At the heart of APEDB's values and ethos, is a young, talented, skilled and agile workforce that is capable of working round the clock to achieve development goals. Hand-picked from top institutes, this young workforce are proactive and go beyond business as usual" Mr. Kishore added.
Mr. N. Chandrababu Naidu, Chief Minister of Andhra Pradesh has commented, “The Skoch award to Andhra Pradesh Economic Development Board, is an eloquent testimony to the excellent work being done by the Board to promote Andhra Pradesh as the foremost destination for Investments. The APEDB team has worked remarkably to promote Andhra Pradesh in India and abroad and has contributed to the growth of the state. The engagement of APEDB with activities of World Economic Forum in promotion of sustainable developmental practices in the era of Industry 4.0 is commendable. The work done young and dynamic work force is appreciable. ”