A building acquired from an IT company on rent by the State government at Cyber Valley of Rushikonda in the city is named as FinTech (financial technology) Tower.
Chief Minister N. Chandrababu Naidu is expected to inaugurate the tower on Hill No. 2 on December 17 signalling the launching of the mission to convert the city into FinTech Valley, Special Chief Secretary and IT Advisor to CM J.A. Chowdary told The Hindu .
Around one lakh square ft of area will be allotted to leading players in the world in the field of FinTech. As on today, 25 leading players involved in stock management, cyber security,
Internet of Things and Blockchain applications such as digitising workflow applications and smart ways to tackle the threat of hacking have expressed their interest to start their operations in the city.
The FinTech players will collaborate with local educational institutions to offer courses as well as indulge in research.
A global research lab on cyber security is coming up with involvement of experts from Israel at Rushikonda. UBS, HSBC and a few others have expressed their willingness for joining the government’s efforts to make the city No.1 destination for FinTech experts.
The selection of Visakhapatnam for development as a smart city along with Allahabad and Ajmer with the support of the United States, the successful conducting of major events CII Partnership Summit and International Fleet Review early this year have generated the buzz around the world that the city has a lot of future for investment in the industries as well R&D.
After a visit to Visakhapatnam Port, a smart city team consisting of John Bachmann, Ryan Bouma and Raj Shelat of United States and Vivek Nanda of UK exuded confidence that the city had a bright future after the decision to make it a smart city.
“Singapore, Boston, New York or London wherever we go there is talk about Visakhapatnam. We are expecting a lot of global companies to invest in Vizag mainly in the field of IT and IT enabled services,” CII-AP chairman G.S. Shiv Kumar said.
