Andhra Pradesh Chief Minister N. Chandrababu Naidu on Thursday announced that the state will finalise 303 Memorandums of Understanding (MoUs) worth ₹9.89 lakh crore at the ongoing CII Partnership Summit in Visakhapatnam.

With these agreements, total investment commitments in Andhra Pradesh have reached ₹32.49 lakh crore over the past two-and-a-half years. "This is the biggest investment figure in India," Naidu said at the summit.

The chief minister urged Union Commerce and Industry Minister Piyush Goyal to introduce a Central Investment Protection Act to strengthen investor confidence across the country. He said concerns over changes in government and what he described as a political vendetta were creating uncertainty among investors.

"I am bringing an Investment Protection Act to safeguard investors from regime changes and political vendetta. The Centre must support it,” Naidu said.

Speaking at the inaugural session of the 31st CII Partnership Summit, Naidu invited entrepreneurs attending the two-day event to submit investment proposals and sign MoUs with the state government. He urged every entrepreneur to consider signing at least one MoU before leaving the summit.

He said the state government had presented detailed information about investment opportunities in Andhra Pradesh and its efforts to attract industries.

Earlier, State HRD, IT and Electronics Minister Nara Lokesh announced that the Andhra Pradesh government would soon introduce its own Investors Protection Act.

Addressing the gathering, Lokesh said the government would turn trade, technology and trust into tangible outcomes. "We will remain just a phone call away for industrialists. We are keen to work together with you. We will respond faster than your own teams," Lokesh said.

Lokesh also urged global industrialists to invest, innovate and expand their businesses in Andhra Pradesh rather than simply visiting the state. He encouraged companies to establish not just factories but also their corporate headquarters in Andhra Pradesh.

Highlighting the summit's focus on trade, technology and trust, Lokesh said, "In Andhra Pradesh, we want to give these three words a concrete shape and transform them into investments, partnerships and opportunities."

He assured investors of the government's full support, saying its doors would always remain open and its teams would be ready to assist them. He added that the government looked forward to working closely with industrialists.