UAE Med Tech Company M42 Ready To Invest In AP

Saturday, July 20, 2024

After a gap of five years, investors are again looking towards Andhra Pradesh as their destination with the change of government here. Many companies are showing interest in investing in the state. In this order, another Med Tech company has come forward to invest in the state to boost the medical sector.

M42 Company of Abu Dhabi will soon enter into MoU with AP Govt., said Health Minister Minister Satyakumar Yadav. According to the agreement, investments in three economic corridors, construction of health hubs in 9 municipalities and investment in Amaravati Health City are possible.

The representatives of M42 Company recently met and held discussions with Minister Satyakumar regarding investments. On the other hand, he felt that there are immense opportunities and resources in AP for investment. The minister said that there is a bulk drug park in AP and there are more opportunities for investment due to the 170 acre Med Tech zone.

He said that M42 company has experience in Genomics, Biotech and Med Tech departments. The minister said that he will provide full assistance to the companies coming forward to make investments. He said that a single window system will be implemented to give permission to these companies.

He said that the government will discuss with them and enter into a memorandum of understanding, after their representatives visit   the economic corridors, before taking a decision on the nature of their investments. On the other hand, the TDP alliance government that has taken over the reins of power in AP is determined to bring large-scale industries to the state.

During the elections, Chief Minister N Chandrababu Naidu promised that development will be done along with welfare. In this context, the AP government is working with the objective of attracting investments. Vermeerian Company in Sricity is already ready for expansion with Rs 100 crores. Now Dubai based M42 company has come forward to invest in AP.

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