Ummid Assistant

Applications open for Manmohan scholarship at Cambridge

Opportunities for Indian students in US

Welcome Guest! You are here: Home Business & Economy

Saudi Arabia keen to invest in India

Sunday February 10, 2013 03:15:04 PM, Mohammed Shafeeq, IANS

Related Article

Uttar Pradesh seeks Saudi investment

Chief Minister Akhilesh Yadav has sought more Saudi investment in Uttar Pradesh and greater cooperation with Riyadh in the fields of agriculture, education and tourism. Yadav met Saudi ambassador Saud Mohammed Alsati   

Saudi Arabia to set up consulate in Hyderabad

I

Hyderabad: Saudi Arabia is keen to promote commerce and investment with India, especially in Andhra Pradesh, Saudi Arabia's ambassador to India Saud Mohammed Al-Sati said, saying the oil-rich kingdom was "investing heavily" abroad.

After a two-day visit to Hyderabad, Al-Sati told IANS in an interview: "Hyderabad is hub of innovation, information technology, biotechnology, engineering and pharmaceuticals. We can explore the opportunities for partnerships."

He added that opportunities for partnership with Andhra Pradesh in various sectors could be explored.

"I learnt about opportunities here in all sectors of the economy. I would like to see more Saudi companies investing in India, especially in Andhra Pradesh," he said.

Al-Sati also invited businessmen and industrialists from the state to invest in Saudi Arabia. During an interaction with business leaders Friday, he highlighted the investment opportunities in his country. He said Indian companies evinced interest in the opportunities the kingdom offered.

During the visit, the ambassador met Andhra Pradesh Chief Minister N. Kiran Kumar Reddy, Governor E.S.L. Narasimhan, among others.

"The purpose of the visit was to reach out to business communities, friends of Saudi Arabia and Saudi citizens and students in Hyderabad, to strengthen bonds between the two friendly countries and serving the interests of Saudi citizens and students," Al-Sati said.

"I discussed with the chief minister and the governor ways to strengthen relations, especially in commerce, joint ventures and investments and to inform business communities, chambers of commerce and industrialists about the business opportunities in the kingdom," he said.

He pointed out that Saudi Arabia's King Abdullah bin Abdul Aziz Al-Saud's visit to India in 2006 and Prime Minister Manmohan Singh's visit to the kingdom in 2010 laid the foundation and vision for strong and close relations.

While inviting people to invest in Saudi Arabia, he explained the initiatives taken by the oil-rich country to boost development.

"The kingdom is investing heavily. The size of investment is unprecedented in infrastructure, transport, health sector, renewable energy, airports and sea ports. I told this to friends of the kingdom and to people from all walks of life and invited them to come and see the programme for themselves," the envoy told IANS.

The Saudi Industrial Property Authority (MODON) was established in 2001 for the development of industrial cities with integrated infrastructure and services. Under MODON, more than 3,000 factories have come up in industrial cities with investments of $50 billion and employing 300,000 people.

He said other avenue of investment for Indian investors was economic cities under Saudi Arabian General Investment Authority (SAGIA). SAGIA was established in 2000 as a vehicle for investment in Saudi Arabia for sustaining economic growth.

The envoy also explored Hyderabad, which has historic ties with the Arab nation. He visited the 105-year-old Osmania University, which edits and publishes rare Arabic manuscripts. He offered Friday prayers at Mecca Masjid, the 17th century mosque.

"I learnt about the very rich history of India, diversity of its culture and its people," said Al-Sati, who has visited Lucknow and Hyderabad in the past since taking over as the Saudi envoy.

He also called on Director General of Police V. Dinesh Reddy to discuss the interests of 300 Saudi nationals in the city.
 


(Mohammed Shafeeq can be contacted atm.shafeeq@ians.in)

 

 

 

 

 




 

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

More Headlines

Students to 'evaluate' teachers at Panjab University

Shutdown cripples Darjeeling, GJM demands Mamata's apology

'Afzal's hanging an act of political expediency'

Israel Football club office torched for hiring Muslim players

Cyprus gives Palestinians full diplomatic status

Pirated CD sellers rough up police official in Kerala

Haridwar student gets NASA honour

Green tea, red wine deterrent against Alzheimer's

German makes electric bike-car hybrid

11 months on, Akhilesh Yadav begins calling the shots

Tens of thousands powerless in US as blizzard pelts east coast

 

Top Stories

Six policemen arrested in Dhule riot case

The local Police on Friday arrested six policemen - 04 State Reserve Police (SRP) Jawans and 02 police constables, based on the video  

A month on, Dhule riot victims without govt. aid, food and shelter

Dhule Civil Hospital record contradicts claim of large scale police injuries

It was a police action, not riot: Maharashtra legislator

 

  Most Read

'Afzal's hanging an act of political expediency'

The government Saturday was accused by some jurists of hanging Afzal Guru on account of political expediency as it was finding itself  

40 injured in Kashmir violence after Afzal Guru hanging

Parliament attack convict Afzal Guru hanged at 8 a.m.

Curfew-bound Kashmir calm but tense after Afzal Guru's hanging

Shutdown cripples Darjeeling, GJM demands Mamata's apology

Gorkha Janamukti Morcha (GJM) chief Bimal Gurung Saturday demanded an apology from Chief Minister Mamata Banerjee for hurting the sentiments of the people of the northern hills of West Bengal, and normal life was hit hard in the region following a 12-hour shutdown called by the pro-Gorkha 

 

  News Pick

650,000 powerless in US as blizzard pelts east coast

Over 650,000 homes and businesses in northeast America were left without power in peak winter, thousands of flights were cancelled and people were asked to stay off roads as a monster blizzard buried cities from New York to Boston under mounds of snow. By Saturday morning 

Israel Football club office torched for hiring Muslim players

The offices of Israeli football club Beitar Jerusalem have been damaged by fire in a suspected arson attack. The blaze came a day after four fans were charged over racist chanting  

German makes electric bike-car hybrid

A 36-year old German engineer-businessman wants to reduce toxic emissions from road transportation by fusing together different elements of cars and bicycles. The man has made a prototype hybrid vehicle that seats  

Out on bail, Malegaon blast accused runs healing centre for arthritis patients

Marshal Battery & Inverter Point is exactly the same place from where Shabbir Ahmed Masihullah (38) was picked up by the police in August 2006 and later   

 

Picture of the Day

Prime Minister Dr. Manmohan Singh presenting the award to the District Collector, Visakapatanam V. Seshadri for promoting social equity in MGNREGA implementation, at the 8th Mahatma Gandhi NREGA Divas Sammelan, in New Delhi on February 02, 2013.

 

Recommend the story to your friends

 

 
 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

The Funny Side

Education & Career

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2012 Awaz Multimedia & Publications. All rights reserved.