Rajasthan Forges New Hospitality Partnerships with Saudi Arabian Firms
Rajasthan's Minister of State for Industry and Commerce, K.K. Vishnoi, led a delegation to Saudi Arabia, where they signed two MoUs in the hospitality sector and invited the country to participate in the ‘Rising Rajasthan Global Investment Summit 2024’.
RajasthanSaudi ArabiaMousHospitalityInvestment SummitReal Estate MaharashtraNov 05, 2024
Vishnoi emphasized the significance of the partnership, stating, “Saudi Arabia is one of the largest economies in West Asia, boasting leading business groups in various sectors such as petrochemicals, engineering, real estate, and renewable energy. These sectors are vital to Rajasthan’s economic growth.” He added, “Our discussions were highly productive, leading to the signing of two investment MoUs in the hospitality sector, which will significantly boost our state’s tourism and hospitality industry.”
The delegation, comprising key government officials and industry leaders, outlined the pro-business policy reforms being implemented under Chief Minister Bhajan Lal Sharma. These reforms aim to attract new investments and create business opportunities in Rajasthan.
The MoUs were signed with Riyadh-based Swiss Hospitality Company and Jeddah-based C Ventures. Swiss Hospitality Company offers a wide range of services, including advisory and project management, as well as community engagement and development. C Ventures, a leading consulting firm, supports emerging entrepreneurs and new ventures, focusing on community building and engagement programs.
In addition to the MoUs, the delegation met with officials from Alfanar Projects, a prominent engineering and construction company based in Riyadh. The company expressed a keen interest in making fresh investments in Rajasthan’s renewable energy sector.
The delegation included Naveen Jain, Secretary of the Finance (Expenditure) Department; Sandesh Nayak, Special Secretary to the Chief Minister; Navneet Kumar, Additional Commissioner of the Delhi-Mumbai Industrial Corridor; Ravish Kumar Verma, Joint Commissioner of Industries; and Krishan Kumar Gupta, DGM of RIICO.
The ‘Rising Rajasthan Global Investment Summit 2024’ is part of a broader strategy to attract investments and foster economic growth. The Government of Rajasthan has organized numerous investor meets both domestically and internationally. So far, investor meets have been held in major cities across India such as Mumbai and New Delhi, as well as in several countries, including South Korea, Japan, UAE, Qatar, Singapore, Germany, and the United Kingdom. These efforts have resulted in investment proposals (MoUs) worth over Rs 18 lakh crore, demonstrating the strong confidence of the investor and business community in Rajasthan’s development initiatives.
Frequently Asked Questions
What is the ‘Rising Rajasthan Global Investment Summit 2024’?
The ‘Rising Rajasthan Global Investment Summit 2024’ is a significant event organized by the Government of Rajasthan to attract investments and foster economic growth. It aims to create new business opportunities and partnerships in various sectors.
Which companies signed MoUs in the hospitality sector with Rajasthan?
The MoUs in the hospitality sector were signed with Riyadh-based Swiss Hospitality Company and Jeddah-based C Ventures.
What other sectors are important for Rajasthan’s economy according to the Minister?
According to the Minister, sectors such as petrochemicals, engineering, real estate, and renewable energy are crucial for Rajasthan’s economy.
Which company expressed interest in investing in Rajasthan’s renewable energy sector?
Alfanar Projects, a Riyadh-based engineering and construction company, expressed interest in making fresh investments in Rajasthan’s renewable energy sector.
How much investment has been proposed through MoUs so far?
The Government of Rajasthan has received investment proposals (MoUs) worth over Rs 18 lakh crore, reflecting the strong confidence of the investor and business community in the state’s development initiatives.
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