GoAP delegation visited Saudi Arabia on Feb 26th and 27th and participated in multiple meetings discussing about the various investment opportunities in Andhra Pradesh.
A delegation from the Government of Andhra Pradesh led by Shri. Zulfi Ravdjee, Advisor to the Hon’ble Chief Minister and Special Representative to the Govt. of Andhra Pradesh, Middle & Far East; Dr (Smt) Poonam Malakondaiah, IAS Special Chief Secretary to Government, Agriculture & Cooperation, AHDD&F Department; Dr. Rajat Bhargava, IAS Special Chief Secretary to Government, Industries & Commerce; and Shri. J.V.N Subramanyam, IAS, Director of Industries, Commerce & EP, CEO, APEDB are in Saudi Arabia on 26 and 27 February 2020 to meet key Government officials of Saudi Arabia and representatives of leading Saudi business houses.
The Andhra Pradesh delegation met H.E. Yousef Al Bunyan, CEO, SABIC. SABIC is a public company based in Riyadh, Saudi Arabia and one among the world’s largest petrochemicals manufacturers. SABIC in India operates in five cities, Gurugram, Mumbai, Bengaluru, Chennai and Pune with around 600 employees across locations.
The delegation briefed the SABIC team on the chemicals & petrochemicals ecosystem and investment opportunities in Andhra Pradesh. Andhra Pradesh is home to the highest oil & gas discoveries in India in the last five years and India’s largest offshore gas field in the KG basin. Andhra Pradesh is also home to India’s largest Petroleum, Chemicals, & Petrochemicals Investment Region (PCPIR) with industrial parks, free trade zones, warehousing zones, export-oriented units, and growth centers with access to domestic & international markets.
The delegation from Andhra Pradesh consisting of Advisor & Spl. Representative Middle & Far East; Spl. Chief Secretary Industries & Commerce; Spl. Chief Secretary, Agriculture & Cooperation; Director, Industries & CEO, APEDB met H.E. Bandar Al Khoarayef, Minister of Industry and Mineral Resources, Kingdom of Saudi Arabia.
The delegation discussed the investor-friendly governance and policies in Andhra Pradesh. They highlighted that Andhra Pradesh is ranked number 1 in ease of doing business (EoDB) in India by the World Bank and is now moving toward strengthening this ranking by focusing on "low cost of doing business".
Andhra Pradesh is one of the mineral-rich states in India with the largest source of Barytes, Shale & Slate reserves in the country.
The Andhra Pradesh delegation to the Kingdom of Saudi Arabia met H.E. Khalid Al-Falih, Hon’ble Minister of Investment. The delegation discussed the best practices being implemented in Andhra Pradesh and how the State has emerged as an ideal investment destination in India. The delegation discussed strengthening trade links and exploring areas of mutual interest. The Hon’ble Minister and his team assured the best support for companies from Andhra Pradesh looking to do business with Saudi and vice-versa.
The Andhra Pradesh delegation to the Kingdom of Saudi Arabia participated in a roundtable discussion with the Saudi Chamber of Commerce and showcased the investment opportunities available in the State across sectors. The Chamber, consisting of businesses from various sectors of manufacturing and services showed keen interest to explore investment opportunities in Andhra Pradesh and tap into the huge potential of India, especially Andhra Pradesh.