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Dubai: The South Australian government wants the UAE and other Gulf investors to participate in the $50 billion worth of projects that the Adelaide-based administration plans to kick-start soon.
"We are putting up plans for major projects which will require investments between $40 to $50 billion in the next few years that will include about $5 billion of federal and state government money in infrastructure," Rear Admiral Kevin Scarce, governor of South Australia, told Gulf News on Friday.
"The remaining $45 billion worth of projects will be funded by private and foreign investors," he said.
Scarce is in Dubai to promote South Australian trade and to seek investment which coincides with Australian Football League matches.
South Australia has a liberal trade and investment policy. Foreign investors can buy land on a freehold basis and develop projects and operate companies with 100 per cent ownership.
"I'd invite the UAE and Gulf investors to come and participate in the opportunities in South Australia, where we are opening our economy to foreign investments."
The South Australian government runs an office in Dubai which advises and helps foreign investors, who could benefit from their guidance.
Scarce said his state is going to enjoy a mining boom as four new copper and gold deposits would require 23,000 skilled workers which will help the economy to grow further. "Our economy is growing at 4.5 per cent a year and with the new projects we expect it to grow faster," he said.
DP World operates a terminal at Adelaide Port. The governor said he met DP World officials on further investments to develop new projects close to the harbour.
South Australian exports to the UAE jumped nearly 150 per cent last year to A$223 million from A$123 million the previous year. It exports food, agriculture, automobiles and beverages to the UAE.
"The UAE is our second biggest trading partner in the Middle East after Saudi Arabia and the trade flow is growing," Scarce said.
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