Section 14 in Andhra Pradesh Economic Development Board Act, 2018
14. Functions of the Board.
- The Board may perform all or any of the following functions, namely,-(1)Strategic Planning and Policy,-(a)To conduct strategic analysis of national and global development trends and identifying strategies that would facilitate creation and management of an ecosystem for sustainable high growth trajectory.(b)To provide a platform for bringing leading national and international business leaders, economists, academicians and knowledge leaders to advise the Government.(c)To nurture a Think Tank and create Knowledge Bank for strategic planning, policy analysis, data analytics and action-research essential for sustaining high rates of growth and successful completion within the committed timelines with focus on investment flows, their efficacy in terms of value addition, employment generation and wealth creation.(d)To secure policy and programmatic integration and co-ordinate preparation and prioritisation of pipeline of projects related to economic sector like infrastructure, industrial development, energy, information and communication technologies, tourism, skill development, higher education and technical education, etc.,(e)To identify potential sources of financing and facilitate early launch and accelerated execution of projects.(f)To work through various departments, ensure proper timely alignment of State policies with the existing and emerging policies at the Centre.(g)To identify the best policies being adopted by the other States and exploring the scope for adopting the same.(2)Investment Promotion and Project Facilitation,-(a)To facilitate investments in the State by being the one-stop shop and a single point interface for all investors seeking opportunities in Andhra Pradesh and act as a dynamic interface between the external world of investors and the Government Agencies and Departments.(b)To promote Andhra Pradesh as the ideal investment destination through various means including road shows, meetings, seminars and programmes, advertisement, printing promotional material dissemination of information etc., in India and Abroad, in co-ordination with the departments concerned.(c)To provide hand holding services to the entrepreneurs throughout their investment process in the State, with a view to facilitate ease of doing business in the State.(d)Apart from disseminating information through the available channels to the potential investors, the Board would proactively market projects to investors and facilitate their approval by the regulatory authorities. It will create an Internal Investment Friendliness Standard for the Departments (along the lines of 'ease of doing business'), through a combination of process indicators and investor surveys.(e)To promote economic activity through development of Industrial Parks, Special Economic Zones and other economic clusters.(f)To enter into memorandum of understandings, agreements etc., on behalf of the Government for promoting investments into the State and for attaining other objectives of the Board.(3)External Engagement with National/International Investors and other Governments,-(a)To provide one-stop interface for all investors-sector wise and infrastructure wise and a single point interface between Investors and the Government Departments.(b)To facilitate the implementation of comprehensive set of measures to improve the ease of doing business with time-bound and transparent resolutions of issues during the project execution and commissioning phases.(c)To facilitate effective inter-departmental co-ordination for multi-sector investments aiming for higher returns and predicable project completion timelines, including but not limited to industrial corridors, growth nodes, capital city development, etc.,(d)To catalyse effective knowledge management and technology transfer essential for innovation, entrepreneurical development and economic growth.(e)To provide one-stop interface for all external engagements with Foreign Governments or investment related issues with the Government of India.(f)To monitor priority projects of the Government and provide timely feedback required for corrective action.(4)Project Appraisal,-(a)To create a robust institutional apparatus that would inspire the confidence of national and international investors through uniform, fair and transparent promotion procedures and consistent assessment and support during the execution phases of the projects.(b)To identify priority projects for Public-Private Partner-ship, conduct techno-economic appraisal of major projects and provide appropriate advice to the Government on all aspects of Public Private Partnership project approval, execution and monitoring.(5)Financial Resource Mobilization,-(a)To mobilize resources (financial, knowledge and intellectual capital) required for sustaining high growth momentum and for executing various projects including internal sources, multilateral bodies, private sector, Public-Private Partnership, through various means, including by setting up of Special Purpose Vehicles.(b)To enable high-yielding investments and high efficiency levels through synergies and co-ordination with multiple stakeholders.(6)Setting up Special Purposes Vehicles(a)To co-ordinate and facilitate establishment of Special Purpose Vehicles involving multi-departmental functions such as establishing Industrial Corridors, Financial Services, Capital City, Smart Cities, Smart Villages, Science Centers, Educational and Research Centers etc., as well as those required for soft and ecosystem development.(b)To promote Venture Funds and other investments strategies to encourage private investments in industrial development and economic activities, either directly or in association with national and international concerns/institutions engaged in operation of venture funds, investments funds and other funds.(c)To take up income generating activities to further the objectives of the Board.(7)Incubating and Co-ordinate Futuristic Initiatives.(a)To incubate and co-ordinate special initiatives which cut-across multiple departments and Government Organizations targeting a quantum leap in terms of developmental outcomes.(b)To promote the development of best practices, innovation and State of the art technology in the State.(8)Futuristic growth To scout for the futuristic growth propelling emerging feasible technologies and establish an ecosystem for its adaption and growth in the State.(9)Any other functions entrusted by the Government including Urban Development and Economic Cities as may be directed by the Government from time to time with a view to bring about the accelerated economic development of the State.
