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Opportunities galore to invest in TN: CM Stalin tells Dubai industrialists

Holding that the United Arab Emirates and Tamil Nadu share a "long history" of rich cultural and trade relations, he said, "we are committed to develop and strengthen this relations"

Opportunities galore to invest in TN: CM Stalin tells Dubai industrialists

Press Trust of India Chennai
Tamil Nadu Chief Minister M K Stalin, on a visit to Dubai to woo investors, has invited industry captains and business leaders to invest in the State by saying opportunities were available in abundance.
On his maiden trip overseas after assuming office in May 2021, Stalin, addressing a conference organised by Guidance Tamil Nadu, said, "I take this opportunity to invite you to Tamil Nadu to engage in a partnership of investment, innovation, growth and prosperity."

During the conference named "Tamil Nadu - Investors First Port of Call," a pact to invest Rs 1,600 crore in the State was signed in the presence of Stalin and government officials of Dubai.
MD and CEO of Guidance Bureau Pooja Kulkarni exchanged documents with officials of Noble Steels, White House, and Transworld Group of Companies for the Rs 1,600-crore investment which would create employment for 5,200 people in Tamil Nadu.
Noble Steels would invest Rs 1,000 crore that would see creation of 1,200 new jobs while White House earmarked Rs 500 crore to set up integrated sewing plant that would see generation of 3,000 jobs. Transworld Group of Companies would invest Rs 100 crore to set up a food park which would generate 1,000 new jobs, official sources said.
Stating that the United Arab Emirates and Tamil Nadu share a long history of rich cultural and trade relations, he said, "We are committed to develop and strengthen the ties."

"There is keen interest to further strengthen the ties between Tamil Nadu and UAE and this is evident after seeing the number of participants in this conference," he said.
Terming Dubai as a beautiful city, Stalin said it is not only beautiful but has also become a place where huge businesses take place.
"Fifty years back, the population was less than one lakh in Dubai. But, today, it has increased and people are in awe, globally," he said.
The Chief Minister listed out some of the popular landmarks of Dubai, including the 2,217-foot tall Burj Khalifa, shopping malls and Palm Jumeirah Islands which saw strong growth as a business centre.
Appealing to the industry captains to invest in Tamil Nadu, Stalin said he took up the overseas trip after assuming office to strengthen economic relations between Tamil Nadu and Dubai. "I invite you all to make big investments in Tamil Nadu," he said.
Despite the COVID-19 pandemic, Tamil Nadu has signed 124 memoranda of understanding (MoUs) attracting investments of USD 8 billion thereby creating two lakh jobs, he said.
"Tamil Nadu has registered a GDP of 5.8 per cent in 2020-21 in contrast to negative growth in most economies. This clearly shows the faith and confidence global investors have in Tamil Nadu," he said.
Noting that the State government has drawn up plans to increase the GDP to USD 1 trillion by 2030, Stalin said the government has taken up upgrading infrastructure and developing the skills of the employees to make the achievement.
"In this context, there are large number of opportunities available for you to invest. Opportunities were in abundance in real estate, tourism, and hospitality sector," he said, adding that the State was home to more than 75 Fortune 500 companies.
"Our doors are always open to do business and to take up investments," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 26 2022 | 7:42 PM IST

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