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27th Zilhaj 1435 | Thursday, Oct 23, 2014
Hyderabad

CM offers incentives to Saudi investors

Tuesday, 5 March 2013
Comments(0)
Hyderabad, March 05:

Chief Minister N Kiran Kumar Reddy on Tuesday assured the Saudi delegation that the Government of Andhra Pradesh will extend all incentives and facilities to the industrialists from Saudi Arabia.

A Saudi delegation led by Dr Abdul Rahman A Al Rabuiah of Alrabiah Consulting & Engineering Services, gave a power point presentation before the Chief Minister regarding the key economic factors and economic growth of Saudi Arabia. The presentation also explained various business and investment opportunities in petro-chemical exports, agricultural expansion, gas production, telecom and IT sectors.

Addressing the delegation, the Chief Minister said that Andhra Pradesh provides a sea of opportunities like petro-chemicals, bulk drugs, pharmaceuticals, IT, BT, mining sectors for the Saudi investors and industrialists. He said that the State has one of the longest coastline and provides great investment potential.

Kiran Kumar Reddy said that the State provides a number of investment incentives like initial tax holiday, reimbursement of VAT, lowest power tariff, infrastructure facilities etc. He said Hyderabad is the bulk drug and pharmaceutical capital of the country and leads in many sectors like IT & BT etc. He said that Andhra Pradesh has a largest pool of human resources in the country, particularly professionals and technicians. He said he would also welcome industrialists from Andhra Pradesh to explore opportunities in Saudi Arabia and invest there. It should be a win-win situation.

The Chief Minister said the team could interact with the FICCI, industrialists and officials of the industries department. The Saudi delegation invited the Chief Minister along with industrialists from Andhra Pradesh to visit Saudi Arabia.

Tariq Mohammed Al Wabil, CEO, Alwabil, Nader Abu Eyta, Group Managing Director, Abueyta, Manas Gulf Group, Zaher S.Al-Munajjed, CBM Consultants for Business & Management, Abdulaziz Abdulhadi Al Judee Al Qahtani, Chairman, Alqahtani Holding, Kamel S.Al Manajjed, Managing Director, Support Services Network, Saudi Arabia, Suliman Al-Sayyari, President &CEO, Saudi German Company Ltd, Dr Tawfiq Al-Swailem, CEO, MSI Global Alliance, Mohammed Fahad Alshiddi, Executive Director, Saudi Indo-Business Council and Latifi H.M. of Gulf Bureau for Research and Economic Consultation were also a part of the delegation.

Former Minister Mohammad Ali Shabbir, Principal Secretary to CM Binoy Kumar and other officials attended the meeting. (INN)

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