‘Improveinfrastructure before Vizag becomes a Fintech hub’

  • | Saturday | 25th February, 2017

In this context, any attempts to turn this into a financial hub will prove disastrous in all aspects. Recently, chief minister N Chandrababu Naidu announced that the Port City will be developed into a Fintech (financial technology) hub. While officials say it will take at least three years to transform Vizag into a Fintech hub, it may take longer to get good results. The state government has always said it has plans to transform Vizag into a smart city as well as an educational hub. If Vizag has to transform into a Fintech hub, the people need to cooperate with the government departments and ensure that the firms are able to recruit youth from the district.

Recently, chief minister N Chandrababu Naidu announced that the Port City will be developed into a Fintech (financial technology) hub. However, most denizens say Vizag can become a Fintech hub only if world class infrastructure and facilities, proper organisation, guidance and local employment generation are taken care of.Let Vizag be a tourism hubVizag is a city of destiny and divinity. It has the potential to become a tourism or educational hub. The state government has always said it has plans to transform Vizag into a smart city as well as an educational hub. In this context, any attempts to turn this into a financial hub will prove disastrous in all aspects. Just because some politicians have vested interests in land related issues, the serenity and the sacredness of this lustrous land cannot be put at stake. Vizag can never attract tourists as a financial hub, but can attract people from across the world as an academic and spiritual hub.--Vizag has the potentialThe city has all the potential to become a Fintech hub due to its serene atmosphere, low cost labour and land, good connectivity, less traffic compared to metro cities and industry-friendly government. However, the magic created by Chandrababu Naidu at Cyberabad is yet to work in Vizag. With the start-up village in Madhurawada IT SEZ failing to yield results, all eyes are on Fintech Towers. If the AP government succeeds in creating world class infrastructure and facilities at par with metro cities, Vizag will certainly become a Fintech hub.Single platform for entrepreneursThe Fintech hub will bring entrepreneurs, investors and mentors to a single platform to discuss the feasibility to build start-ups and provide more employment opportunities in the region. The government's intentions are commendable, but needs proper planning. While officials say it will take at least three years to transform Vizag into a Fintech hub, it may take longer to get good results. We can't compare ourselves to metro cities where the infrastructure is already present.Vizag needs guidanceVizag lacks dedicated representatives in spite of having sufficient capability of becoming a Fintech hub. Vizag can grow far beyond many budding Fintech cities if proper organisation and guidance is given. The state government needs to make the departments active with officials willing to put in extra effort. People too need to put in their bit and ensure that officials are held accountable.Generate local employmentIt's nice to see that the state government wants to make Vizag an IT and Fintech hub. But employment opportunities also need to increase with the influx of companies. Firms should recruit local people rather than bring in manpower from outside. This way, local youth do not have to go outside their city in search of jobs and the number of unemployed youth will also decrease.Hard work neededBefore TDP was voted into power in bifurcated AP, Chandrababu Naidu had showed everyone how Hyderabad was developed into a financial hub. Vizag too can become one through hard work and determination. Local people need to cooperate with the government departments and with a positive attitude bring about a change in the city.Mindset needs to changeThe state government will be able to only build a few buildings if the mindset of the people does not change. If Vizag has to transform into a Fintech hub, the people need to cooperate with the government departments and ensure that the firms are able to recruit youth from the district. It is important that employment is generated among the local people. Moreover, the state government has to improve the infrastructure of the city including internet connectivity.For next week, we turn the spotlight on the frequent fire mishaps in and around the city. What should be done to ensure safety in public establishments? How can the fire safety norms be implemented strictly? Pick up the megaphone and SAY IT LOUD ! If you feel strongly about this or any other issue, mail us at sayitloudvizag.toi@gmail.com. Do not forget to send in a photograph of yours along with your opinion and phone number

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