Offering investment opportunities

Azali Assoumani, President of the Comoros, attended the business forum on investment in his country, held at the Business Centre at Expo 2020 Dubai. Several Emirati and international officials and investors also attended the event.

In his speech, President Assoumani called on the audience to invest and forge partnerships in his country and engage in exchanging innovative ideas and expertise. He also encouraged them to cooperate with his country’s private sector to develop small and medium-sized enterprises (SME).

The Comoros is still a country with unrealised potential, he added, noting there are numerous opportunities for investing in various sectors, including agriculture, fisheries, tourism, energy, transport, social services, renewable energy and the green economy.

The Comoros has achieved significant recent progress in supporting the green economy, mainly due to its ability to overcome the repercussions of the COVID-19 pandemic, he added. The UAE has contributed to these efforts and supported his country’s economic development by encouraging Emirati investors, he noted.

Assoumani then pointed out that the Comoros recently held the “Donors’ Conference” in Paris, which witnessed a significant turnout, but the COVID-19 pandemic has delayed the process of implementing the conference’s recommendations related to investment.

With the return to normalcy and the opportunity of being present at Expo 2020 Dubai in the UAE, one of the most prosperous countries in the world, the forum aimed to promote the advantages offered by the Comoros to the UAE and other countries, he added. He stressed that Expo 2020 Dubai is an opportunity to promote the potential and capacities of his country.

In addition to the cultural and artistic diversity of the Comoros, its young people are creative and energetic and account for over 60 per cent of the population, Assoumani further said. The Comoros is a member of the Common Market for Eastern and Southern Africa (COMESA), the Southern African Development Community (SADC) and the African Continental Free Trade Area (AfCTA), which have over 1.5 billion consumers, representing a great opportunity for investors.

Assoumani also expressed his happiness at the audience’s interest in the presentation of his prime minister and members of his country’s delegation on available investment opportunities, strategic trends and the projects aimed at making the Comoros a prosperous country.

UAE minister visits pavilions: Mohammed Bin Ahmed Al Bowardi, Minister of State for Defence Affairs, visited the pavilions of Saudi Arabia and Singapore at Expo 2020 Dubai.

Al Bowardi and his delegation started their tour by visiting the Saudi pavilion, where they explored the country’s leading innovative projects, reflecting its unlimited ambitions to achieve a prosperous and sustainable future for the Saudi people, under the directives of King Salman Bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques, and HRH Prince Mohammed Bin Salman Bin Abdul Aziz, Saudi Crown Prince, Deputy Prime Minister and Minister of Defence.

Al Bowardi also explored the Saudi pavilion’s contents, pillars, objectives and sections showcasing the country’s heritage, nature, economy, development, science and technology, among other areas related to the Saudi Vision 2030.

Al Bowardi expressed his happiness at Saudi Arabia’s participation in Expo 2020 Dubai, highlighting the pavilion’s programmes that utilise advanced digital technologies. In response to an invitation, Al Bowardi and his delegation also visited the Singaporean pavilion, held under the theme, “Nature.. Care.. Future,” which showcases the country’s major environmental achievements based on self-sufficiency.

The pavilion also highlights Singapore’s efforts to achieve development, sustainability and flexibility, in addition to its readiness to address the challenges of the current era.

Investment opportunities: The Indian state of Rajasthan is geared up to offer big-bang investment opportunities to the global investors during the State’s week (November 12-18) at Expo 2020 India Pavilion in Dubai.

The sectors in which the state is looking at major investments include chemicals & petrochemicals, fintech, automobile & electric vehicles, renewable energy, infrastructure, mining, tourism,  MSMEs, etc. A number of MoUs are slated to be signed during the course of Rajasthan week at the India Pavilion.

A high-level delegation from Rajasthan government will be in Dubai to meet the investors during the week and pitch for the investments. The programme would also feature diaspora connect programmes and tourism prowess of Rajasthan. The delegation will include Shri Shanti Kumar Dhariwal, Minister for Urban Development & Housing; Shri Parsadi Lal Meena, Minister for Industry; Shri Arjun Singh Bamaniya, Minister of State for Industry; Mr Ashutosh A T Pednekar, Secretary – Industries, Government of Rajasthan; Ms Rukmani Riar, Executive Director, RIICO; Mr Dhiraj Srivastava, Commissioner – Rajasthan Foundation, etc.

The Rajasthan Week will kick start with the inauguration of the state’s pavilion in the India pavilion on Saturday followed by an inaugural session which will be addressed by the Rajasthan government ministers and other top officials. The delegation will have focussed interactions and G2B meetings with a number of companies in Dubai for attracting investments in the state.

Among the specific projects in which the State is looking for investments, is Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR). HPCL Rajasthan Refinery Limited (HRRL), a subsidiary of HPCL is developing this project, which is one of the largest refineries of the country in Barmer, Rajasthan. Rajasthan State Industrial Development and Investment Corporation (RIICO) is developing PCPIR near the refinery to catalyze the investment for the downstream products of the refinery. With a capacity of 9 MMTPA, the Refinery has the potential to generate Rs15,000 crore investment.

The other mega project of Rajasthan is FinTech Park at Jaipur. RIICO is pitching Jaipur as destination par-excellence for corporates and start-ups of the financial and Information Technology world by developing a world-class FinTech Park spread over 100 Acres. The State is also planning to develop a textile park at Jodhpur. Considering the current potential and existing ecosystem of textile and apparel sector in the State, RIICO has proposed to develop a dedicated textile park in the city, which is well connected by road, rail, and air. Investments would also be in the offer for Khushkera Bhiwadi Neemrana Investment Region (KBNIR) along the Delhi Mumbai Industrial Corridor (DMIC), Marwar Industrial Cluster and MEDtech Medical Devices Park. RIICO is developing the Medtech Medical Devices Park at Jodhpur with a proposed area of approximately 230 Acres. The park will have a dedicated common facilitation centre (CFC) equipped with high quality laboratory and research and development facility.

WAM