McKinsey to facilitate flow of Chinese investments into AP

McKinsey to facilitate flow of Chinese investments into APVIJAYAWADA: McKinsey & Company, the global management consultancy, has promised to facilitate Chinese investments in Andhra Pradesh.

Chief Minister N. Chandrababu Naidu met McKinsey’s Global Institute Director Jonathan Woetzel at the ongoing World Economic Forum (WEF) conference at Davos on Thursday, a press release from the Chief Minister’s Office said.

Mr. Woetzel said that his firm would take the responsibility of networking 20 most important companies and investors from China. Plans would be finalised in the next three months, he said.

Responding to it, Mr. Naidu said that McKinsey’s best talent should form a group to help mobilise finances and investments for developmental activities and plans in Andhra Pradesh and Amaravati.

At another bilateral meeting with Max Neukirchen, Head of Strategy, JPMorgan Chase & Co, a multinational banking and financial services holding company, whose headquarters is in New York, the Chief Minister said that FinTech was the right area for them to invest in.

“Leverage your networking and bring finances for the development of Amaravati,” Mr. Naidu told the JPMorgan official.

Mr. Naidu explained him features of Core Dashboard and opportunities available in the State.

Japan-based Kumi Umi Asset Management Company president Yasuyo Yamazaki assured the Chief Minister that it would bring investments to the tune of 15-20 billion US dollars to Andhra Pradesh through a consortium of Japanese companies. The company also evinced interest in developing Tirupati.

Mr. Yasuyo Yamazaki told the Chief Minister that they were interested in exploring opportunities in development of Tirupati, expanding it eastwards.

The company worked in Varanasi and had experience in development of temple towns, he said. In response, Mr. Naidu asked them to come with a clear roadmap.

CISCO Chairman John T Chambers lauded the Chief Minister for his interest in digitising the State.

To a suggestion by Mr. Naidu to set up a digital university in A.P., Mr. Chambers said that he would constitute a group that would interact with the State government and work in the areas of digital skills, block chain, IoT, and cyber security.

Sandeep Naik, Managing Director of General Atlantic, a US-based growth equity firm, said that they were interested in funding first generation entrepreneurs and startups.

General Atlantic manages 30 billion dollar fund and has investments up to five billion dollars in India. Their core sectors include IT and healthcare.

Japan-based Teijin Ltd. president and Chief Executive Officer Jan Suzuki told Mr. Naidu that their company was into carbon and aluminium fibres and was exploring the possibility of coming to India.

Mr. Naidu held a breakfast meeting with Union Minister for Road Transport and Highways and Shipping Nitin Gadkari. The Union Minister made a special request to arrange Andhra cuisine as breakfast when he met Mr. Naidu on Wednesday.

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