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Apart from signing two MoUs in the hospitality development sector, a delegation led by Rajasthan’s Minister of State for Industry and Commerce K.K. Vishnoi invited Saudi Arabia to participate as partner country in ‘Rising Rajasthan Global Investment Summit 2024’ to be held here next month, an official said on Tuesday. 

Vishnoi said, “Saudi Arabia is one of the largest economies in West Asia and is replete with leading business groups in sectors ranging from petrochemicals and engineering to real estate and renewable energy, which are crucial to Rajasthan’s economy.”

“We had very fruitful discussions with leading business groups, which resulted in us signing two investment MoUs in the hospitality development sector,” he said in a statement.

Seeking cooperation to facilitate new investments and business opportunities in Rajasthan, the Minister-led delegation apprised the Saudi Arabian delegation of the pro-business policy reforms being implemented by Chief Minister Bhajan Lal Sharma.

Continuing the series of signing of investment MoUs ahead of the summit, the Minister-led delegation also signed pacts with Riyadh-based Swiss Hospitality Company and Jeddah-based C Ventures in the hospitality development sector.

While Swiss Hospitality Company provides a range of services from advisory and project management to community engagement and development, C Ventures, apart from being a consulting major, also provides support to emerging entrepreneurs, new ventures and community building and engagement programmes.

The Minister-led delegation also interacted with officials of Alfanar Projects, a Riyadh-based engineering and construction company, who expressed willingness to make fresh investments in Rajasthan in the renewable energy sector.

Apart from the Minister, other delegation members currently present in Saudi Arabia include Naveen Jain, Secretary, Finance (Expenditure) Department; Sandesh Nayak, Special Secretary to Chief Minister; Navneet Kumar, Additional Commissioner, Delhi-Mumbai Industrial Corrido; Ravish Kumar Verma, Joint Commissioner Industries; Krishan Kumar Gupta, DGM, RIICO and others.

In preparation for the ‘Rising Rajasthan’ Global Investment Summit 2024, the Government of Rajasthan has organised investor meets across the country as well as abroad. Domestic investor meets have already been organised in Mumbai and New Delhi, while on the global front, investor meets have been organised in South Korea, Japan, UAE, Qatar, Singapore, Germany and the United Kingdom so far. Extensive outreach both domestically and internationally has resulted in Rajasthan Government receiving investment proposals (MoUs) worth over Rs 18 lakh crore till date, reflecting the tremendous confidence of the investor and business community in the efforts of the State.