The Economic Development Board has been conceived under the leadership of the Honourable Chief Minister to accelerate the inclusive economic growth of Andhra Pradesh. The board acts as a catalyst to facilitate economic growth, investment climate, reforms, and competitiveness in Andhra Pradesh. It is the single point of contact for all investments in the Indian state of Andhra Pradesh as per the Andhra Pradesh Economic Development Board Act, 2018. The Andhra Pradesh Economic Development Board Act, 2018 (Act no. 21 of 2018) has been in force since June 7, 2018.
The functions of the Economic Development Board include:
- Strategic investment planning and promotion
- Nodal point of contact for investments
- Mobilisation of resources required for supplementing public and private investment
- Facilitating inter-departmental coordination
- Economic and policy research
SPPD is a think-tank for creating a knowledge bank needed for strategic planning, policy analysis, data analytics, and research, which are essential for sustaining a double-digit growth within the committed timelines.
In addition to implementing strategies for the state, SPPD conducts analysis of national and global development trends that would facilitate creation and management of an ecosystem for sustaining a high growth trajectory.
IPPD Promotes Andhra Pradesh as the ideal investment destination to investors in India and abroad. It is a single point of contact for all investors seeking opportunities in Andhra Pradesh and acts as an interface between investors and the government.
IPPD is also responsible for smoothly implementing memorandum of understanding, agreements, etc., on behalf of the Government for promoting investments into the state.
EED promotes Andhra Pradesh as an investment destination to the global community in international forums. It is responsible for engaging with Governments, Multilateral and Bilateral agencies, Development Banks, Trade associations etc.
EED acts as a one-stop interface for all engagements with foreign governments as well as handles the investment related issues with the Government of India.
PPPD is responsible for creating an ecosystem to promote public private partnership in the state. It appraises techno-economic feasibility and viability of public-private partnership projects. It also assesses PPP structuring and the funding provisions, and provides its recommendations to the State Government, which includes the viability gap funding (VGF).
RMD is responsible for both strategic as well operational dynamics related to increasing internal resources (tax and non-tax reform, user charges, etc.), mobilizing central government resources, mobilizing grants and loans financing multilateral and bilateral international development agencies, and leveraging resources through securitization, guarantees, mutual funds, bonds, etc.
RMD has been mandated to administer the Investment Facilitation Fund, the Innovation Fund, the Viability Gap Fund, the Project Development Fund, the Capacity Development Fund etc.
SPVD is responsible for conceiving and establishing the Special Purpose Vehicles (SPVs) for the purpose of delivering citizen services, skill development, financial services, resource mobilisation, smart cities, new capital city, management of industrial corridor, etc.
While SPVD assists the departments in structuring and setting up of SPVs, it only coordinates the functioning of those SPVs that cut across multiple departments. Departmental SPVs are entirely managed by the departments.
ENDD’s mandate is to translate into reality the CM’s vision of developing entrepreneurship in the State, on a wide scale.
ENDD is responsible for actively promoting the culture of entrepreneurship and skill development through various means, including establishing institutes of excellence, holding seminars, workshops, etc.
PSCL is responsible for incubating and coordinating the implementation of special initiatives, which cut-across multiple departments targeting a quantum leap in terms of developmental outcomes, as deemed necessary by the Government.
The lab develops state of the art practices, innovative methods and strategies to place Andhra Pradesh on the fore font of technology.