The Export-Import Bank of Korea (KEXIM) has shown keen interest in collaborating with the Andhra Pradesh government on several infrastructure and maritime projects, potentially marking a new era of development for the state. On Thursday, KEXIM representatives met with Andhra Pradesh officials at the state’s Secretariat to explore these collaborative opportunities.
During the discussions, S. Suresh Kumar, the Secretary of Infrastructure and Investment, introduced the Korean delegation to ongoing projects in Andhra Pradesh, focusing on the state’s commitment to infrastructure growth and maritime advancements. The Economic Development Cooperation Fund (EDCF) activities in Andhra Pradesh were also reviewed, with a view to strengthening existing relationships and expanding on collaborative avenues.
Key topics discussed included KEXIM’s interest in initiatives like shipbuilding and repair, port development, green ports, logistics, and smart port technology. The discussions underscored the importance of these areas in Andhra Pradesh’s maritime sector and examined future projects aimed at bolstering cluster development within the industry. Both sides agreed on conducting further studies to explore ways to deepen their cooperation and expand the state’s maritime capacity.
Additionally, the meeting covered strategic approaches for attracting private investment to Andhra Pradesh, addressing the importance of feasible incentives to draw significant private sector interest. This initiative aligns with the state’s vision for comprehensive growth in the infrastructure and maritime sectors, promising robust economic benefits and a long-term collaborative relationship between Korea and Andhra Pradesh.
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