Investors advised to look for business opportunities in Africa

Vijayawada: Mostof the African countries have tax-free regimes for the manufacturing sector with 100 per cent repatriation benefits, said Senior Executive from ARISE Integrated Industrial Platforms (ARISE IIP) AK Pramod Kumar. He was addressing a seminar on ‘Exploring Business/Investment Opportunities in Africa’ organised by AP Chambers in Guntur on Tuesday to educate the industrialists and entrepreneurs about the opportunities in Africa, according to a communiqué from AP Chambers here on Wednesday.

Investors have opportunities to explore 27 LDCs (Least Developed Countries of Africa) with duty free tariff preferences on non-reciprocal basis. Around 70 exporters/investors from the sectors like agriculture, food processing, textiles, granites, spices, hospitality, health care, poultry, etc., participated in the seminar.

Pramod spoke in detail about opportunities for investments like setting up the manufacturing and processing units with ready infrastructure supported by round-the-clock power supply. Speaking on the occasion, AP Chambers’ president Potluri Bhaskara Rao said that the trade between India and Africa goes back thousands of years. The bilateral trade grew to USD 100 billion with balanced exports and imports.

Many investors evinced interest to explore business opportunities in Africa and AP Chambers intends to take a delegation to visit some of the potential countries in the Africa continent in July 2024.

AP Chambers’ General Secretary B Raja Sekhar, members P Koti Rao, V Samba Siva Rao, Dr P Vasu, Sakku Madhavi, Dr Rayapati Mamatha, Gadde Vijay Kumar and other members of AP Chambers were present.

Entrepreneurs interested in exploring opportunities in Africa may contact AP Chambers at 0866-248 2888.