The Abu Dhabi Investment Authority (ADIA) expressed keenness on making substantial investments in Andhra Pradesh particularly in the infrastructure sector. ADIA Director Khalil Mohammed Sarif Foulathi gave an assurance to that effect to Chief Minister N. Chandrababu Naidu in an interaction in Abu Dhabi on Monday.
Mr. Naidu said the phenomenal success of the United Arab Emirates (UAE)’s growth into an economic powerhouse was an inspiration for all and he would like the ADIA to explore the opportunities in A.P. which, he asserted, was providing the best of conditions for doing business.
The country which was perceived to be just a desert had undergone a dramatic transformation as the rulers and the businessmen took the adversities in their stride and had come up with such a model of development that proved to be the envy of others, the CM observed.
Mr. Naidu said the State had targeted 15% growth rate over the next 15 years, for which efforts were being made with the help of the Central government and other interested parties. Focus had been laid on the construction of the capital city Amaravati and it was a matter of pride that the Singapore government was extending a helping hand in that endeavour.
Natural resources
Mr. Naidu said the State was at the forefront of utilising its natural resources optimally and agencies like the ADIA could look at agriculture, mining and other sectors as potential destinations for their investments.
Indian High Commissioner in UAE Navdeep Singh Suri and First Secretary Dinesh Kumar were present.
Mr. Naidu interacted with B. Raghuram Shetty, Chairman of BRS Ventures, and other business tycoons, over breakfast. He had lunch with UAE Minister of Culture, Youth and Social Development Sheik Nahyan bin Mubarak al Nahyan and held discussions with Mubadala Group CEO Homaid Al Shimmari, who promised to explore the opportunities in aerospace, renewable energy, healthcare and real estate among other sectors.
