The fifth State Investment Promotion Board (SIPB) meeting held under the chairmanship of Andhra Pradesh Chief Minister N Chandrababu Naidu at the State Secretariat cleared investment proposals to the tune of Rs 30,667 crore.

The SIPB meeting approved investments by 17 organisations in sectors like I and C, food processing, IT and energy to create 32,133 jobs. During all the five meetings held so far after the formation of the coalition government, investment proposals to the tune of Rs 4,70,879 crore related to 57 firms were cleared. A total of 4,16,688 jobs will be provided.

While only five SIPB meetings were conducted in the five years tenure of the previous YSRC regime, the coalition government conducted five SIPB meetings in less than a year.

Speaking on the occasion, the CM made it clear that investments taking shape at ground-level is as important as investments coming to the State. The CM told the officials that the respective industries launching production on time is very important and made it clear to the officials that when a project is approved it is necessary to take the details from them on the date of starting production and the phase-wise progress of such projects should be closely monitored.

The CM directed the officials to provide the details in the next SIPB meeting on how many companies have launched production till and how many jobs have been created.