Tuesday, 02 January 2024 12:17 GMT

Odisha Targets UAE Investors in Big Push for Industrial Growth


(MENAFN- Middle East Media Corp) The Odisha government is set to launch a three-day investment outreach in the United Arab Emirates from 9 to 11 September, led by Chief Minister Mohan Charan Majhi, as the eastern Indian state seeks to attract foreign capital and expand its links with global markets.

The delegation will travel to Abu Dhabi and Dubai for meetings with investors, financial institutions, fund houses, industry leaders and Indian business professionals. Talks are expected to focus on investment, technology partnerships, exports and the development of industrial supply chains in Odisha.

The state is placing particular emphasis on industries linked to exports and higher-value manufacturing. Its established metals and metallurgy sector will form a key part of the discussions, alongside efforts to expand downstream production and connect local industries more closely with international markets.

Other sectors being presented to potential investors include food and seafood exports, port-based industrial and logistics parks, shipbuilding, rare earths, slurry pipelines, and chemical and petrochemical parks.

Odisha, which has a long coastline and an established industrial base, is also seeking investment in port-led development. The government sees its ports and related infrastructure as a way to expand manufacturing, logistics and exports while linking the state to global supply chains.

The UAE visit is part of a wider effort by the Odisha government to diversify its industrial economy and attract investment into technology-driven and higher-value sectors.

In Abu Dhabi, the delegation is expected to meet investment institutions, sovereign and institutional investors and UAE-based organisations. Discussions will include foreign direct investment, project financing and long-term partnerships.

In Dubai, the programme will focus more heavily on industrial and business groups, including companies in metals, downstream manufacturing, logistics and infrastructure. Sector-specific meetings and one-to-one discussions will be used to present individual investment opportunities.

The government also plans to engage with the Indian business community in the UAE, which it sees as a potential link between companies and investors in the two countries.

A central event will be the Odisha Investors Meet – UAE, where officials will showcase the state's investment opportunities and seek potential commitments from businesses and investors from the UAE and the wider Middle East and North Africa region.

Chief Minister Mohan Charan Majhi said Odisha wanted to use the UAE outreach to attract capital, technology and strategic partnerships while strengthening the state's manufacturing and export base. “Our focus is on building long-term partnerships that can transform our industrial ecosystem, strengthen value chains and create new opportunities for our people,” he said.

Industries Minister Sampad Chandra Swain said the state would highlight both established industries such as metals and metallurgy and newer opportunities in ports, logistics, rare earths, shipbuilding, chemicals, petrochemicals and food exports.

The government says the broader aim is to move beyond conventional investment and develop more integrated production and export chains within Odisha.

The UAE outreach comes as the state seeks to strengthen its position as an industrial and export hub on India's eastern coast, while building closer economic ties with international investors and businesses.

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Middle East Media Corp

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