Visakhapatnam, March 3 : Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy on Friday said that Visakhapatnam will be the executive capital of the state in the days to come. Making the announcement at Global Investors Summit 2023, which began in the port city, he also said that he would also be shortly moving over to Visakhapatnam. The Chief Minister this time was categorical that Visakhapatnam will be the executive capital. At the curtain raiser event in Delhi on January 31, he had announced that Visakhapatnam will soon be the state capital. Subsequently, Finance Minister B. Rajendranath Reddy had stated at another curtain raiser in Bengaluru that the YSRCP government decided on Visakhapatnam as the next capital of Andhra Pradesh. He had reportedly remarked that the state will not have three capitals. This had triggered speculations in political circles that the Jagan Mohan Reddy-led government had given up the plan of three state capitals. It was on December 17, 2019 that Jagan Mohan Reddy had announced in the state Assembly that three state capitals will be developed reversing the decision of the previous TDP government to develop Amaravati as the state capital. The YSRCP government mooted Visakhapatnam as administrative capital, Kurnool as judicial capital, and Amaravati as legislative capital. However, the protest by farmers of Amaravati over shifting of the capital and the High Court order directing the government to develop Amaravati as the state capital had delayed the process. On March 3, 2022, the Andhra Pradesh High Court had directed the state government to develop Amaravati as the state capital in six months. A bench of three judges had pronounced the judgment on 75 petitions filed by Amaravati farmers and others challenging the government's move on three capitals. However, the state government filed an appeal in the Supreme Court. In November last year, the Supreme Court stayed the High Court order saying the court cannot act like a town planner or an engineer. Meanwhile, the Chief Minister announced at the investors' summit that the state has received 340 investment proposals involving an investment of Rs 13 lakh crore and employment to almost 6 lakh people across 20 sectors. On the first day, 92 MoUs will be signed with an investment of 11.5 lakh crore and employment potential for almost 4 lakh people. Remaining 248 MoUs will be executed on Saturday for an investment of 1.15 lakh crore and employment to 2 lakh people. Jagan Mohan Reddy told the investors that his government was committed to facilitating a business-friendly environment and ensuring sustainable economic development. "We will facilitate the most conducive business ecosystem. We are only a phone call away for whatever you need," he said. The Chief Minister stated that Visakhapatnam has emerged as strong economic hub with the presence of multiple public and private sector units, port led infrastructure and a tourist hotspot. He said Visakhapatnam is a city known not only for industrial strengths but also for its picturesque beauty and serene landscape. He said 2023 will be an important year for India as the country will be hosting the G20 summit with the theme 'one earth one family one future'. He pointed out that Visakhapatnam will also be hosting one of the important G20 working committee meetings as well. /IANS