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Andhra Pradesh attracts investments worth 5,150 cr
Industries minister Mekapati Goutham Reddy along with state government officials holds discussions with representatives of companies in Dubai on Thursday
The Andhra Pradesh week at the India Pavilion in EXPO-2020, Dubai, concluded on a successful note with the State signing five MoUs worth Rs 5,150 crore with investors across key sectors like EV, FMCG, infrastructure, manufacturing, logistics and smart city solutions.
Vijayawada: The Andhra Pradesh week at the India Pavilion in EXPO-2020, Dubai, concluded on a successful note with the State signing five MoUs worth Rs 5,150 crore with investors across key sectors like EV, FMCG, infrastructure, manufacturing, logistics and smart city solutions.
Andhra Pradesh Economic Development Board on behalf of the State government signed the MoUs during its participation at the India Pavilion with global investors like Causis e-mobility, Regency Group, Tabreed, MULK holdings, Sharaf Group, Fluent Grid and Trogo General Trading LLC. These MoUs are expected to generate around 3,340 direct & 7,500 indirect jobs for the people of the State.
The State floor at the India Pavilion was inaugurated on February 11 by Mekapati Goutham Reddy, Minister for Industries, Commerce, Information Technology, Government of Andhra Pradesh in the presence of Dr. Ahmed Albanna, UAE Ambassador to India, and Dr Aman Puri, Consul General of India in Dubai and Deputy Commissioner-General for India at Expo-2020 Dubai. The State showcased its attractive model of development based on the four key pillars of - investing in future, transforming governance, driving economic growth, and environmental and social governance (ESG).
On the sidelines of the State week, the delegation undertook multiple investment road shows with the businesses based in Dubai, Abu Dhabi and local diaspora, where 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, textiles, electric mobility) and exports.
The delegation invited global investors and Andhra Pradesh Non-Resident Telugu (APNRT) Society to script a new story of growth and development in the State during meetings with India Business and Promotional Council (IBPC) members and many business leaders.
Andhra Pradesh is one of the nine industrialised States in India, which is blessed with abundant natural resources and mineral wealth and offers a low-risk and easy environment for businesses to grow with one of the best industry-friendly policies. Apart from showcasing its business potential in the State, Andhra Pradesh also displayed its cultural heritage with several performances by renowned artistes at the India Pavilion.
