Vishakapatnam has lost in the race of AP’s Capital and then the bad publicity about the city being unsafe during recurring Cyclones but that does not take away from the city in becoming a hub of investments. The proposed PCPIR, Vizag-Chennai Industrial Corridor (VCIC), ITIR and the recent Entertainment City makes the sea shore city bustling with activity. Experts say no one can take the charm off Vizag as the United States invinced its interest in developing the city as a smart city.
Asian Development Bank (ADB) has announced one of the five industrial parks planned by it in Andhra Pradesh in Vishakapatnam as part of Vizag-Chennai Industrial Corridor (VCIC). ADB will be investing 2.5 billion dollars in this corridor and Vishakapatnam will have hardware, software, petrochemicals and maritime industrial park.The proposed industrial corridor will be developed in four phases on the lines of Delhi-Mumbai Industrial Corridor.
Experts say that the real estate segment slowly started to boom in Hudhud affected Vishakapatnam with lot of investors making buzz in the city. With the industrial corridor, ITIR and Entertainment City starting, the city is expected to witness a major spike in investments which will trigger economy and also provide employment.