The Land of the Rising Sun has promised more than just investments to the state of Andhra Pradesh; Japan expressed readiness to help construct the new capital Amaravati.
As Chief Minister Chandrababu Naidu embarked on his tour of the nation, it was seen as a move to build closer ties between the two sides that has some remarkable cultural connection – Buddhism. Japan is essentially a Buddhist country, and the capital city of Andhra Pradesh has been christened after ancient Buddhist town of Amaravati.
The cultural connect certainly helped in eliciting good response from the Japanese Government as well as companies for the construction of Amaravati.
Japan is ready to join hands in building the new capital of Andhra Pradesh, Chief Minister Chandrababu Naidu said after returning from his tour of Japan.
During his visit, CM Naidu met Japanese Premier, Shinzo Abe, and extended a personal invitation to him for the foundation stone laying ceremony of his state’s new capital, Amaravati. Naidu said Prime Minister Narendra Modi would also write to Abe inviting him for the ceremony to be held in October this year. Abe assured Naidu that Japan will extend all technical and possible financial assistance for infrastructure development and building of capital. The Chief Minister also made a request for making some institutionalised arrangement for AP-Japan relationship, to which Abe agreed.
Japan’s Ministry of Economy, Trade and Industry (METI), on the other hand, has come forward with equity participation in the capital development and management. METI Minister Yoichi Miyazawa informed CM Naidu that several Japanese companies are ready to partner in Amaravati’s construction. The METI Minister added that the trade and industry body is also keen to invest in Andhra Pradesh’s metro rail project if there is a request out forth from the Government of India. Replying to this, the Chief Minister said he would request the Government of India to pursue it. On similar lines, Japan’s Ministry of Land, Infrastructre, Transport and Tourism (MLIT) extended co-operation in helping Amaravati with the construction of roads, building and infrastructure.
The Chief Minister also took the opportunity of inviting Bank of Tokyo to set up their offices, especially foreign exchange operations, in Amaravati, when he led his high profile delegation for a luncheon meeting with the President of the bank, Takashi Morimura.
And, apart from requesting the Mizuho Bank, Japan’s second largest bank, to set up its Indian headquarters in Amaravati, Naidu urged Tatsufumi Sakai, Managing Executive Office of Mizuho Bank, to consider setting up their back office in the state. The CM invited the bank to set up their offices, especially foreign exchange operations, in Amaravati.