AP inks MoUs worth over Rs.10,000 crore at Dubai Expo

Visakhapatnam A high-level delegation from Andhra Pradesh led by Minister for Commerce and IT Mekapati Goutham Reddy signed MoUs involving an investment of over Rs.10,000 crore during the just concluded weeklong Andhra Pradesh Floor at the Expo 2020 Dubai.

The delegation had advanced discussions with major firms, to finalise investment interests into sectors such as gypsum board building materials (Rs.600 crore with job potential of 300), automotive and batteries (Rs.105 crore and employment of 300), food processing (Rs. 150 crore and employment of 300), consumer and industrial packaging unit (Rs.100 crore and jobs for 200), Prefabricated structures development (Rs.250 crore and employment of 200), innovation shared services center focused on delivering digital solutions across healthcare, cloud governance and industrial automation using AI and ML technologies, and setting up of tertiary multi-specialty hospital as part of the Health Hub scheme of the State.

Thereby, the visit of AP team to Dubai has resulted in the potential investment interest of over Rs.10,350 crore and jobs for 5,740 directly and 10,000 indirectly across emerging sectors within the India-UAE strategic partnership for trade and commerce.

The delegation led by Goutham Reddy includeded Zulfi Ravdjee, Advisor to Government of AP, Special Representative of the government to Middle East and Far East region, R. Karikal Valaven, Special Chief Secretary JVN Subramanyam, Vice Chairman & Managing Director, AP Industrial Infrastructure Corporation (APIIC) & CEO, AP Economic Development Board (APEDB), and Govinda Reddy, Chairman APIIC and, Kurnool MLA Hafeez Khan.

Given the ongoing negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between UAE and India, this participation in Dubai has enabled the State to identify new partners of growth in the sectors of synergies between the state and UAE, especially emerging post the pandemic, Goutham Reddy said after winding up AP floor at India Pavilion.

The investment roadshow was kickstarted with the inauguration at the Dubai Expo February 11. The inaugural was 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.

AP stall had seen a footfall of over 7,000 to 10,000 visitors per day. They could experience the rich tradition of the State combined with initiatives being taken by the State Government in 'Transforming governance paradigm', 'Investing in future', measures driving 'Equitable economic growth', and integrating 'Environment & social governance' towards sustainable development'.

On the sidelines of the AP Pavilion, the State delegation could undertake multiple investment roadshows with the businesses based in Dubai, Abu Dhabi and local diaspora, where Goutham Reddy addressed over 400 business professionals from various industries and highlighted the immense opportunities for investments and collaborations in sectors such as agriculture & food sector, infrastructure (ports, airports, logistics, industrial parks, construction, renewable energy), manufacturing (pharmaceuticals, food processing, petrochemicals, IT & electronics, eextiles, electric mobility) and exports.

The Minister commended the efforts of Chief Minister Y.S. Jagan Mohan Reddy said "It has been almost three years since taking charge, where our dynamic Chief Minister has delivered on a comprehensive governance & development model, built on nine assurances called 'Navaratnalu' and steps being taken to boost the investment climate and infrastructure development in the State."