AP delegation visits Saudi Arabia to invite investments

Amaravati: The AP officials visited Saudi Arabia on Wednesday to attract investments in various sectors. The delegation including Zulfi Ravdjee, Special Representative to the Govt. of AP, Middle East, and Far East, Rajat Bhargava, Special Chief Secretary, Industries and Commerce Department, Poonam Malakondaiah, Special Chief Secretary Agriculture and Cooperation and JNV Subramanyam, Director of Industries Cum CEO, APEDB on the tour, which will end on February 28, informed the Chief Minister's Office in a statement on Wednesday here at Secretariat.

The State is looking for foreign partners, in order to harness the potential and attract investments. Dr. Pradeep Rajpurohit, Deputy Chief of Mission, Embassy of India, Riyadh Saudi Arabia extended the invitation to Andhra Pradesh to visit Saudi Arabia in order to promote business ties and explore opportunities in the field of petrochemicals, pharmaceuticals, medical tourism, renewable energy, mining and Information Technology.

Saudi Arabia is our fourth largest trade partner and is a major source of energy as we import around 18 percent of our crude oil requirement from the Kingdom. (As per DGFT), the India-Saudi bilateral trade has increased by 23.83 percent to US $ 34.03 billion.

India has been identified as the Kingdom's 8 Strategic Partner Countries under 'Vision 2030' clearly earmarks the growing bilateral ties in an upward trajectory.

Prime Minister Narendra Modi and the Saudi Crown prince have pronounced the kingdom's intention to invest US $ 100 billion in India in the coming years and signed an agreement to set up the Strategic Partnership Council.