AP generates potential investment interest of Rs 10,350 cr at Dubai Expo
Hyderabad: A high-level delegation from the Government of Andhra Pradesh led by the Minister for Industries, Commerce, IT, Skill Development, Training, Textiles & Handicrafts M Goutham Reddy visited the Dubai Expo 2020 from February 11 to 17. The visit generated a potential investment interest of Rs 10,350 crore and employment of 5,740 direct and 10,000 […]
Hyderabad: A high-level delegation from the Government of Andhra Pradesh led by the Minister for Industries, Commerce, IT, Skill Development, Training, Textiles & Handicrafts M Goutham Reddy visited the Dubai Expo 2020 from February 11 to 17. The visit generated a potential investment interest of Rs 10,350 crore and employment of 5,740 direct and 10,000 indirect jobs. Over 70 plus investible projects have been promoted across 11 focus areas.
The delegation interacted with over 50 businesses and entered MoUs with five major companies including Regency Group (hyper retail markets and food processing unit), Mulk Holdings (aluminium coils & panels manufacturing), Sharaf Group (integrated logistics park), Tabreed (sustainable cooling infrastructure) and Causis e-mobility (electric buses), with an intent to invest over Rs 5,150 crore and generate employment of 3,440 direct and 7,800 indirect jobs.
The delegation had advanced discussions with major firms to finalise their investment interests in sectors such as arms and carbine manufacturing (Rs 3,000 crore and 1,000 jobs), gypsum board building materials (Rs 600 crore and 300 jobs), automotive and batteries (Rs 105 crore and 300 jobs), food processing (Rs 150 crore and 300 jobs), consumer and industrial packaging unit (Rs 100 crore and 200 jobs) and prefabricated structures development (Rs 250 crore and 200 jobs).
The delegation included Zulfi Ravdjee, advisor, Government of Andhra Pradesh, special representative of the Government to Middle East and Far East region, R Karikal Valaven, special chief secretary to Government, JVN Subramanyam, vice chairman & MD, AP Industrial Infrastructure Corporation (APIIC) & CEO, AP Economic Development Board (APEDB), and Govinda Reddy, chairman, APIIC.
Given the ongoing negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between UAE and India, AP’s participation enabled it to identify new partners of growth in the sectors of synergies between the State and UAE, especially emerging post the pandemic.
The investment roadshow was kickstarted with the inauguration of the Andhra Pradesh State Pavilion at the Dubai Expo on 11th February, attended by Dr Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Dr Ahmed Abdul Rahman Albanna, UAE Ambassador to India and Sunjay Sudhir, Ambassador of India to UAE.
Andhra Pradesh pavilion witnessed a footfall of over 11,000 visitors, showcasing initiatives such as ‘transforming governance paradigm’, ‘investing in future’, measures driving ‘equitable economic growth’, and integrating ‘environment & social governance’ towards sustainable development’.
On the side lines of the pavilion week, the AP delegation carried out multiple investment roadshows with the businesses based in Dubai, Abu Dhabi and local diaspora, where Goutam Reddy addressed over 400 business professionals from various industries and highlighted the opportunities for investments and collaborations in sectors such as agriculture & food Sector, infrastructure, manufacturing and exports.
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