Telangana CM to Tour Singapore and Davos for Investment Opportunities
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Synopsis
Telangana Chief Minister A. Revanth Reddy will travel to Singapore and Davos from January 16 to 22 to attract investments. He aims to engage with global investors and promote Telangana as a leading investment destination.
Key Takeaways
- The Chief Minister is promoting Telangana as an investment hub.
- Delegation includes key officials from the Industries Department.
- Focus on Skill University and investment agreements in Singapore.
- Engagement at the World Economic Forum in Davos.
- Past investments of Rs 40,232 crore from global firms.
Hyderabad, Jan 13 (NationPress) The Chief Minister of Telangana, A. Revanth Reddy, is set to commence a journey to Singapore and Davos on January 16, aiming to draw investments to the state.
An official delegation, headed by the Chief Minister, will travel to Singapore from January 16 to 19 and to Davos from January 20 to 22.
Alongside him will be the Minister of Industry and Information Technology, D. Sridhar Babu, and senior officials from the Industries Department. The delegation plans to engage in discussions regarding the Skill University and other investment-related agreements while in Singapore, before attending the annual meeting of the World Economic Forum in Davos.
During a meeting with the Industry Minister and officials on Monday, discussions were held about the upcoming conferences and meetings scheduled with global industry representatives and investors during their stay in Singapore and Davos.
The Chief Minister emphasized that Telangana has established itself as the premier destination for global investment within the country, successfully attracting major players in both the manufacturing and service sectors.
He noted that the state government has fostered an investor-friendly ecosystem to entice both domestic and international investors and urged officials to be prepared to showcase Hyderabad on the global stage to invite significant investments.
Revanth Reddy expressed optimism that the state’s industrial policy will secure substantial investments in the years to come. He believes that various welfare initiatives and development programs implemented within the first year have bolstered the state’s economy.
Expressing contentment with the investments garnered in the first year, the Chief Minister highlighted that Telangana secured investments totaling Rs 40,232 crore through Memorandums of Understanding (MoUs) with international firms during the World Economic Forum conference in Davos last year. Fourteen prominent companies committed to investing in the state, leading to agreements for 18 projects.
Officials updated the Chief Minister that around 17 of these projects are already underway, while 10 are progressing rapidly through various stages of development. Additionally, they reported that seven projects are currently in the initial phase.
