VIJAYAWADA

Chief Minister N. Chandrababu Naidu requested Abdulla Bin Touq Al Marri, Minister of Economy & Tourism, UAE, to explore the investment opportunities in Andhra Pradesh (A.P.) especially in seaports, logistics, agriculture, shipbuilding, digital technologies, renewable energy and tourism sectors, while promising to extend all possible support to those coming forward to partner with the State in its development journey. 

“I invite you to spend 25% of your time in our State and see our functioning. If you are not confident of our ability to deliver on our promises, you can leave us”, Mr. Naidu told Mr. Al Marri, seeking to impress upon him the effectiveness of A.P. Government’s hand-holding to investors. 

Andhra Pradesh Chief Minister Chandrababu Naidu leading a high-level team to Singapore from July 26 

Participating as the chief guest at an investor meet jointly organised by the Confederation of Indian Industry (CII) and Investopia, a UAE-based global investment platform, in Vijayawada on Wednesday (July 23, 2024), Mr. Naidu said the A.P. Government was committed to giving time-bound clearances to proposals put forth by entrepreneurs and the State was transitioning from Ease to Speed of Doing Business, and the CMO was directly monitoring the status of projects. 

He noted that Andhra Pradesh was rich in agriculture and water resources, was endowed with a 1,053 km-long coastline, it has a string of seaports and upcoming airports and skilled human resources, well-established rail and road networks and multiple other advantages beckoning investors.

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“The UAE Government and entrepreneurs should see for themselves the opportunities and they can be assured of all full support. The A.P. Government introduced 15 sector-specific policies and was offering a slew of incentives to those putting their money in the State,” the CM mentioned.

Mr. Naidu said the A.P.-UAE bilateral trade last year amounted to $1.45 billion (approximately ₹12,500 crore) and there was tremendous scope for increasing it as the State moved forward in alignment with the goals laid down by the Prime Minister Narendra Modi in his vision of Viksit Bharat. 

He said a British company came forward to set up a green ammonia plant in Krishnapatnam, DP World evinced interest in working with the A.P. Government in the development of the maritime sector and many other prospective investors were in touch with the State, reiterating that A.P. would be the best bet for investors from the UAE.  

Andhra Pradesh Industries & Commerce Minister T.G. Bharat, A.P. Government Chief Secretary K. Vijayanand, LuLu International CMD M.A. Yousuff Ali, Investopia CEO Jean Fares and CII President Designate R. Mukundan spoke in the inaugural session.

Later, the A.P. Government and Investopia announced the signing of an MoU for collaboration in promoting investments. A.P. Economic Development Board CEO C.M. Saikanth Varma and Mr. Fares exchanged copies of the agreement.