Kerala, UAE to set up joint working group

Investments into Kerala from the Gulf region may get a boost with the state government all set to kickstart a high-level joint working group between the United Arab Emirates (UAE) and the state.

The decision was taken during the recent visit of Kerala's minister for industries Elamaram Kareem to UAE, where he met the UAE state minister for finance and industry, Mohammed Khalfan Al-Kurbashu and other officials.

The Kerala delegation led by Kareem toured various West Asian countries from April 27 to May 9.

According to an official source, the proposed joint working group will aim at throwing the windows open in a bid to attract investments into the state from the UAE, especially in the petrochemicals and power sectors.

During the visit, companies based in the UAE had met with the Kerala delegation and expressed their keenness on investing in mega projects in the state in the petrochemicals and power sectors, the minister stated here.

"Among the many firms, the Emirates Investment Group has evinced interest to invest in Kerala, especially in projects like tourism," he added. The Kerala government is currently awaiting proposals in this regard from the company.

Besides, proposals on investing in Kerala in the fields of oil and gas, ports and shipbuilding are also expected.

The team also met with the Dammam-based Saihathi Group, which has expressed interest in sourcing cables and electricity meters from Kerala-based companies.