Though AP Capital is nearer to Vijayawada, Visakhapatnam is the fastest growing city in the state. Many Companies and countries have looking towards beach city for their operations. Foreign companies have competed with each other on putting their investments in the city. Visakha Container Terminal signed an agreement with Dubai for cargo shipping from Visakhapatnam.
Companies from Nepal seek to make Vizag as Transshipment Hub to import goods. Singapore Company has very much interested to start incubation centre at Rishikonda IT Park in Visakhapatnam. Government has decided to assign 2000 sq.ft of space to the company. In addition to that, China wants to start industrial park in Visakhapatnam.
A delegation from China may visit Vizag in this summer to start Port related logistic operations. APIIC is in gathering of 200 acres in the district. Asian Paints will start India’s biggest operations in Pudi village in the district. Government allotted 110 acres to Asian Paints. 1200 acres of land assigned to NTPC for the construction of 4K MW Thermal Plant in Atchutapuram.
APIIC is in search for 300 acres of land for Petroleum University in the district. On the other hand, US selected Vizag is one of the two cities in India to make Smart City along with Indian Government. HUDHUD can’t stop Visakha’s growth and development.
