The State government is committed to driving Micro, Small, and Medium Enterprises (MSMEs) growth by prioritising infrastructure and financial incentives, Visakhapatnam district Collector M. Abhishikth Kishore said on Monday.

Speaking after laying the foundation stone for a ₹14.5-crore Flatted Factory Complex (FFC) at Kancharapalem in Visakhapatnam North constituency, Mr. Kishore said the flagship goal is to nurture grassroots entrepreneurship through the “One Family, One Entrepreneur” initiative.

The event coincided with Chief Minister N. Chandrababu Naidu virtually launching 38 industrial parks across the State from Vijayawada.

Out of seven sanctioned Small and Medium Enterprise (SME) parks in the district, foundation stones are laid for six. The Pedagantyada park is operational. The administration is also negotiating with the Visakhapatnam Port Authority for land to establish a logistics park in the South segment.

Highlighting industrial momentum, Mr. Kishore noted that 28 distinct policies were introduced over the last two years. Andhra Pradesh secured 16% of national inbound investments in the first year and 25% in the second. Over 60% of the State’s ₹10-lakh crore investment pipeline is directed toward the nine districts of the Visakhapatnam Economic Region. Under the MSME policy, units investing up to ₹10 crore can reclaim up to 75% through subsidies.

Visakhapatnam North legislator Vishnu Kumar Raju said that the 83-cent FFC will house 36 entrepreneurs in 725-sq. ft. workspaces. He highlighted the newly established dispute resolution portal and warned that buyers must clear dues within 45 days under the MSME Act or face penal interest.