Andhra CM assures all support to Saudi investors

Last Updated: Tue, Mar 05, 2013 18:10 hrs

Hyderabad, March 5 (IANS) Andhra Pradesh Chief Minister N. Kiran Kumar Reddy Tuesday assured a business delegation from Saudi Arabia that the state government would extend all incentives and facilities to Saudi businessmen keen to invest in the state.

The delegation led by Saudi-Indian Business Council (SIBC) chairman Abdulrahman Alrabiah called on Reddy, said a statement from the chief minister's office.

The delegation gave a power-point presentation regarding the economic growth of Saudi Arabia and also explaining various business and investment opportunities in petrochemical exports, agriculture, gas production, telecommunication and IT sectors.

Reddy told the visiting delegation that Andhra Pradesh provide a sea of opportunities in petrochemicals, bulk drugs, pharmaceuticals, IT, biotechnology and mining sectors for the Saudi investors.

He also pointed out that the state provides investment incentives like initial tax holiday, reimbursement of Vaue Added Tax (VAT), lowest power tariff and infrastructure facilities.

The chief minister said he would also welcome industrialists from Andhra Pradesh to explore opportunities in Saudi Arabia and invest there.

The delegation invited the chief minister along with industrialists from the state to visit Saudi Arabia.

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