Andhra signs MoU with Japan for capital development

Japan on Thursday signed a memorandum of understanding (MoU) with Andhra Pradesh for the development of Andhra capital Amaravati and assured a helping hand with its experience and technology.

The MoU was signed a couple of hours before Prime Minister Narendra Modi laid the foundation stone for the capital.

Japan Bank for International Cooperation's director general (social infrastructure) Noriko Nasu and Andhra Pradesh's Principal Secretary Finance P.V. Ramesh signed the MoU.

Andhra Pradesh Chief Minister N. Chandrababu Naidu and Japanese Economy, Trade and Industry Minister Yosuke Takagi were present at the function. Officials said the MoU would facilitate foreign investments and development of infrastructure in the new capital. The details will be worked out later.

Later, speaking at the foundation stone ceremony, Takagi said his country was ready to lend a helping hand in development of Amaravati with the experience and technology.

"We in Japan from our young days have learnt that this great land of Amaravati was a great seat of learning for Buddhism right from 3rd century BC and here is where the seed of Japanese nation's culture and values have emerged. In our text books we learnt that Nagarjuna visited the city. For me to stand here in great spot today is matter of great pride and honour," he said.

Takagi said Amaravati was once again set to become a vibrant centre and great city and "this time in history Japan is here to help a lending hand with experience and technology here to contribute to this great city".

The minister said that Japan understands what great effort it takes to make a new city and recalled how from burning fields of World War II, they created a new nation.

He said that Asia Pacific region has the potential to become growth engine for the entire global economy. "Andhra Pradesh is poised to be gateway for Asia Pacific and the Indian Ocean region. I believe it has the potential to be the centre of what can be called Asia Pacific Ocean region and the centre and hub of this place," he said

Stating that it was their wish to be part of the story from the beginning, Takagi said building a new capital was a symbol of great possibilities between India and Japan.