Kumaraswamy woos UAE investors

Dubai, June 9 (UNI) Chief Minister of Karnataka H D Kumaraswamy, on his maiden overseas trip after taking over office three months ago, has urged investors from the United Arab Emirates (UAE) to take advantage of the investor-friendly atmosphere in his state.

Accompanied by a delegation of officials, he held talks with the Abu Dhabi Investment Authority yesterday and told potential investors that in 2005-06; about 360 new projects worth 16 billion dollars had come to the state.

Mr Kumaraswamy said Karnataka is home to over 1,500 companies in the IT sector, apart from 500 multinational firms and 66 Global Fortune 500 companies, Gulf News reported .

Besides IT and tourism, Karnataka holds immense potential in biotechnology, heavy machinery and oil and petroleum sector.

With a 320-km long coastline, Karnataka has eight minor ports, an area open for investments, Mr Kumaraswamy said.

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