Hyderabad, Aug 16 (IANS): Telangana Chief Minister Revanth Reddy on Friday invited Foxconn to invest in the Fourth City planned near Hyderabad, assuring the company of all support.
CM Revanth Reddy met Foxconn Chairman Young Liu in New Delhi and assured full support, including necessary permits and incentives, for setting up their factories in the Fourth City.
Explaining the phase-wise development of three cities in Hyderabad, CM Reddy said the Fourth City will focus on multifaceted growth in sectors such as education, life sciences, medicine, sports, electronics, electrical industries and skill development.
According to the Chief Minister’s Office (CMO) here, CM Reddy highlighted the establishment of the Young India Skill University, a key component of the Fourth City project on the outskirts of Hyderabad.
CM Reddy said that eminent industrialists were involved in the design of the syllabus to provide the necessary skills and human resources that equips the youth with modern industry skills.
CM Reddy explained to the Foxconn team all the advantages of Hyderabad, including the International Airport, Outer Ring Road (ORR) and Regional Ring Road (RRR).
The CM emphasised Hyderabad's consistent industrial progress over the years, which remains unhampered by changes in governments.
State IT and Industries Minister, D Sridhar Babu, also briefed Liu on the government's pro-industrial policies, incentives, and international collaborations aimed at boosting industrial development.
The Foxconn Chairman said that Hyderabad city has immense potential to expand in all sectors, including industrial and service sectors.
Liu commended CM Reddy's visionary approach and said that Foxconn was eager to explore investment opportunities in Hyderabad.
He announced plans for an initial visit by a team led by Chief Campus Operations Officer Kathy Yang and India representative V Lee, with a follow-up visit by Liu himself.
Liu said that he was very impressed by CM Reddy's vision and pro-industrial policies in the design of the Fourth City.
The meeting also saw the presence of several high-ranking officials from both the Telangana government and Foxconn, signaling the beginning of a potentially significant partnership for Hyderabad’s industrial development, the CMO added.