A high-level delegation from the Govt of Andhra Pradesh led by the Minister for Industries, Commerce, IT, Skill Development, Training, Textiles & Handicrafts Mr. M. Goutham Reddy to the ongoing Dubai Expo 2020 from Feb 11th, 2022 to Feb 17th, 2022. The high-level delegation included Mr. Zulfi Ravdjee, Advisor to Government of Andhra Pradesh (Cabinet Minister Rank), Special Representative of the Government to Middle East and Far East region, Mr. R Karikal Valaven, IAS, Spl Chief Secretary to Government, Mr. JVN Subramanyam, IAS, Vice Chairman & Managing Director, AP Industrial Infrastructure Corporation (APIIC) & CEO, AP Economic Development Board (APEDB), and Mr. Govinda Reddy, Chairman APIIC, Hon’ble Kurnool MLA Mr. 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. The investment roadshow was kickstarted and with the inauguration of the Andhra Pradesh State Pavilion at the Dubai Expo on the 11th of February 2022, graced by H.E. Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, H.E. Dr. Ahmed Abdul Rahman Albanna, UAE Ambassador to India and H.E Sunjay Sudhir, Ambassador of India to UAE.
The state pavilion has seen a footfall of over 7,000-10,000 visitors per day experiencing 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 omtegrating ‘Environment & Social Governance’ towards sustainable development’.
Further on the sidelines of the AP state Pavilion week, the state delegation has undertaken multiple investment roadshows with the businesses based in Dubai, Abu Dhabi and local diaspora, where Mr. M Goutam 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 Minister has also commended the efforts of the Hon’ble Chief Minister, “It has been almost three years since taking charge, where the Chief Minister Mr. Y.S Jagan Mohan Reddy 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.”
Over the course of 4 days from Feb 14th to 17th 2022, the delegation interacted with over 100+ businesses based, as part of the CXO G2B meetings and 3 Business roundtables with industry bodies based out of Dubai and Abu Dhabi such as Indian Business and Professional
Council (IBPC) Dubai, Indian Business and Professional Group (IBPG), and ICAI chapters of Dubai and Abu Dhabi. The state has entered into MoUs with 5 major companies namely 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 Pvt Ltd (Electric Buses), with an intent to invest over INR 5,150 cr and generate employment of 3,440 directly and 7,800 indirectly.
Speaking at the MoU signing ceremony, Mr. M. Gowtham Reddy mentioned “I believe these MoUs would clearly give confidence to the investors towards investing into the state. The recent EoDB rankings and upcoming industrial infrastructure initiatives under the exemplary leadership of the Hon’ble Chief Minister have created a pulling effect on the investor community across the globe. We believe in sustainable industrial transformation by protecting our environment, where communities share the long term benefits of this industrialization by way of local employment, improved connectivity, and increased living standards.”
Further the delegation had advanced discussions with major firms, to finalize their investment interests into sectors such as Gypsum board building materials (INR 600 cr and employment of 300), Automotive and batteries (INR 105 cr and employment of 300), Food processing (INR 150 cr and employment of 300), Consumer and Industrial packaging unit (INR 100 cr and employment of 200), Pre-fabricated structures development (INR 250 cr and employment of 200), Innovation shared services center focused on delivering digital solutions across healthcare, cloud governance, utilities, education, and industrial automation using AI and ML technologies, and setting up of Tertiary Multi-specialty hospital as part of the Health Hubs scheme of the state. There-by, the delegation visit has resulted in the potential investment interest of over INR 10,350 cr and employment of 5,740 directly and 10,000 indirectly across emerging sectors within the India-UAE strategic partnership for trade and commerce.
The Spl Chief Secretary to Government, Industries, Commerce and Infrastructure emphasized on the opportunities that the India-UAE partnership and CEPA agreement would outlay for the UAE-based business, converging economic & strategic interests and ancient cultural & religious ties. He emphasized on the investments being made by the state of Andhra Pradesh for the development of Infrastructure such as ports, airports, logistics hubs, fishing harbors etc to support the growth of UAE-based businesses in the state. He said “We are increasingly looking to partner with large private sector firms towards forging partnerships via effective models in PPP basis. We are showcasing our state at the Dubai Expo in a new perspective, opening new opportunities for business and establishing new relationships with the industry”.
Over 70+ investible projects have been promoted across 11 focus areas of Industrial Parks & Infrastructure, 3 MTPA YSR Kadapa Steel plant, Renewable Energy, Ports, Airports & Logistics Parks, Agri and Marine Processing clusters, Health hubs all 13 districts and 10,000 health clinics in a hub and spoke model, Petrochemical Investment Region in the state, have been promoted to various investment and financial institutions holding potential investment ticket size of USD 36.7 bn. The delegation has also held productive discussions with the large state-owned financial holding companies such as Mubadala Investment Company, Abu Dhabi Investment Authority (ADIA), KAAF Holdings, Standard Chartered Bank, Family Offices, Abu Dhabi Global Markets (ADGM), which evinced interests in projects generating a ROI of 13-15% in specific investible projects.
The investment holding firms have shown keen interest to work with the state along with their partners in finding the best fit for funding the projects. The Government has launched the “Investment Docket with a Compendium of Investible Projects” at the India pavilion, unveiled by H.E. Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, H.E. Dr. Ahmed Abdul Rahman Albanna, UAE Ambassador to India during the inaugural of the state pavilion on the Feb 11th 2022.
The businesses and diaspora attending the roadshows at Dubai and Abu Dhabi commended the efforts of the state government in ensuring the Business Continuity of the industries both before and post the pandemic, and multiple reforms taken beyond Ease of Doing Business in Minimizing Regulatory Compliance Burden, Minimizing Cost of Doing Business and reducing Risk of Doing Business. The members of the IBPC, IBPG and ICAI Chapters highlighted plethora of opportunities in bridging the gap of exports potential and increasing trade in product lines from the state such as Crustaceans, Paddy, Tobacco, Animal feed, Groundnut, Processed Fruits & Vegetables, Sauce, Essence & Food preparations. Moreover the entrepreneurs also expressed interest in the work from anywhere initiative by the state government and some of them mentioned how they have started to take initiatives to develop their own villages and work with the government in developing the state.
Mr. JVN Subramanyam, IAS, VC & MD AP Industrial Infrastructure Corporation (APIIC), CEO APEDB has presented the strengths of the state namely transparent policy framework, strategic locational advantages, robust infrastructure, thriving industrial & business ecosystem, skilled manpower & immense potential for the growth across the emerging investment and trade opportunities in focus sectors. He emphasized the strides made by the state in industrial development and called upon the investors and industrialists alike in leveraging the supply-chain and strong infrastructure in the state to make the state a global hub for Trade & Manufacturing. He said, “I am happy to inform all of you today that we have been accompanied by a strong business delegation from Andhra Pradesh comprising of companies across Automobile, Food processing, Textiles, Healthcare, Information Technology, Capital Goods to showcase their strengths and to forge new partnerships on this global platform.”
Dr. Aman puri, IFS, CGI Dubai stated, “UAE and India are working on the SEPA agreement, which will mutually benefit both the countries, ensuring bilateral trade between the countries reach US$ 100 Billion soon”. Further, he commended the importance given by the state in the significant role played by the innovators, start-ups and industrialists, in charting the industrial growth story of Andhra Pradesh and elevating the economic and trade relations with the UAE.
Mr. Zulfi Ravdjee, Advisor to Government of Andhra Pradesh (Cabinet Minister Rank), Special Representative of the Government to Middle East and Far East regions, expressed profound gratitude to the departments from the Govt of India, Ministry of External Affairs, Ministry of Commerce for creating this opportunity for the state government to present its vision and mission. He stated, “On behalf of the Chief Minister of the state, I convey deepest appreciation to the businesses and partners for the overwhelming response towards the state’s participation at Dubai Expo 2020. I assure you that our state will make all efforts to work out detailed plans for a continuous engagement to build a great future through a balanced economic growth with health and welfare.”
